Mr - Zeeshan

The Hong Kong Monetary Authority (HKMA) has released several guidelines and explanatory documents regarding the regulatory regime for stablecoin issuers, which will take effect on August 1, 2025.

According to an official announcement, the Hong Kong Monetary Authority (HKMA) today released several guidelines and explanatory documents regarding the regulatory regime for stablecoin issuers, which will take effect on August 1, 2025:

Consultation Conclusions on the "Guidelines on the Supervision of Licensed Stablecoin Issuers," the "Guidelines on Combating Money Laundering and Counter-Terrorist Financing (Licensed Stablecoin Issuers)," the "Summary Notes on the Licensing Regime for Stablecoin Issuers," and the "Summary Notes on Transitional Provisions for Existing Stablecoin Issuers," which relate to the licensing regime and application procedures. Both sets of guidelines will be gazetted on August 1, 2025. With the regulatory regime officially taking effect, market participants should comply with the Stablecoin Ordinance and related guidelines.

The HKMA encourages institutions interested in applying for a license to contact the HKMA via its official email address on or before August 31, 2025, so that the HKMA can convey its supervisory expectations and provide appropriate feedback. Licensing will be an ongoing process. Individual institutions that believe they are fully prepared and wish to be considered sooner should submit their applications to the HKMA on or before September 30, 2025. The HKMA reminds market participants to exercise caution in public communications and avoid statements that could be misunderstood or create unrealistic expectations. Under the Stablecoin Ordinance, falsely claiming to be a licensed entity or applicant is an offence.

As of today, the HKMA has not issued any licenses. The public will be able to refer to the HKMA's website for a list of licensed stablecoin issuers. The public should remain wary of any stablecoin issuer claiming to be regulated or licensed in Hong Kong, or any person claiming to be applying for a license. The public holds unlicensed stablecoins at their own risk.
#US-EUTradeAgreement
#BinanceHODLerTree

South Korea's Democratic Party proposes the country's first stablecoin bill

According to the Chosun Ilbo, the Democratic Party of Korea proposed a bill to institutionalize stablecoins on the 28th. Ahn Deok-gil (transliteration), a member of the Democratic Party of Korea, who belongs to the National Assembly Budget Settlement Committee, will present the "Draft Law on the Issuance and Circulation of Value-Stable Digital Assets" containing the above content on the same day.

The media explained: "Although the "Digital Asset Basic Law" proposed by Democratic Party member Min Bingde (transliteration) last month contains some stablecoin-related content, this is the first time that a bill has been introduced to regulate the entire ecosystem of the issuance, circulation, and supervision of the Korean won stablecoin."

Previously, the Daily Economy reported that Kim Eun-hye (transliteration), a member of the National Power Party, also plans to propose a bill related to the issuance of the Korean won stablecoin this week.

President Trump said he reached a trade agreement on Sunday with the European Union, avoiding a damaging trade war with the U.S.’s largest trading partner and marking his biggest deal so far in his attempt to remake the global trading system through higher tariffs for U.S. trading partners.

Trump said the U.S. would set a baseline tariff of 15% for European goods, including automobiles. He said steel and aluminum tariffs, which are currently at 50%, would remain unchanged. He also said the EU had agreed as part of the deal to buy $750 billion worth of energy products from the U.S. and invest an additional $600 billion in the U.S.
#CryptoScamSurge
#Trump tariffs