#香港稳定币新规 Hong Kong's "Stablecoin Regulation" officially comes into effect, marking the establishment of the world's first comprehensive regulatory framework for fiat-backed stablecoins. This historic initiative positions Hong Kong as the first jurisdiction to implement thorough regulation on stablecoins, injecting unprecedented institutional certainty into the turbulent digital asset market. According to the new regulations, any entity issuing fiat-backed stablecoins in Hong Kong, or issuing stablecoins pegged to the Hong Kong dollar value overseas, must apply for a license from the Hong Kong Monetary Authority. Non-bank institutions must meet a high threshold of 25 million Hong Kong dollars in paid-up capital.