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Hong Kong Joins Global Race With New Stablecoin Licensing Bill

On 21 May 2025, Hong Kong enacted legislation introducing a licensing framework for issuers of fiat-backed stablecoins.
The bill follows Hong Kong's efforts since 2023 to build a regulatory framework and keep pace with global jurisdictions regulating stablecoins.
The new regime mandates issuers to meet requirements on reserve asset management, redemption mechanisms, anti-money laundering, and auditing under Hong Kong Monetary Authority oversight.
Officials described the ordinance as a risk-based, pragmatic framework aiming to foster financial stability and support responsible growth in Hong Kong's digital asset ecosystem.
The legislation is anticipated to be implemented within this year and will include a transitional phase that allows businesses to adjust and comply, reinforcing Hong Kong’s role as a global frontrunner in stablecoin regulation.

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CNBC

Center

Hong Kong passes stablecoin bill as more governments recognize the digital asset

Hong Kong has passed a stablecoin bill to expand its cryptocurrency licensing regime as more governments recognize the digital asset.

2 days ago·United States

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Coin Desk

Center

Hong Kong Joins Global Race With New Stablecoin Licensing Bill

Hong Kong has been working on establishing a stablecoin regime since 2023.

3 days ago·Manila, Philippines

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South China Morning Post

Center

Hong Kong passes stablecoin law, clearing way for sales to public

Law sets up a ‘risk-based, pragmatic, and flexible regulatory regime’ with public protection in mind, head of city’s monetary authority says.

3 days ago·Hong Kong

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Bitcoin World

Hong Kong Stablecoin Testing Accelerates With JD Tech's Coinlink

BitcoinWorld Hong Kong Stablecoin Testing Accelerates with JD Tech’s Coinlink The world of digital finance is constantly evolving, and significant steps are being taken in key global financial hubs. A notable development gaining traction is in the realm of stablecoins, particularly in Hong Kong. Recently, JD Tech’s subsidiary, JD Coinlink, made headlines by advancing its Hong Kong stablecoin testing, marking a crucial phase in its development jo…

15 hours ago

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LexBlog

Recent Passing of Hong Kong Stablecoins Bill

On May 21, 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill, establishing a regulatory framework for stablecoins–cryptocurrencies whose value is tied to an external asset or commodity. This marks an important step in positioning Hong Kong as a progressive hub for digital finance. The legislation introduces a licensing regime for fiat-referenced stablecoin (FRS) issuers and strengthens the city’s broader regulatory approach to vi…

17 hours ago

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Cryptoast

Soon Chinese Stables via Hong Kong? The "Stablecoins Bill" Has Just Been Adopted

Hong Kong has just taken a new step in the regulation of cryptocurrency by endorsing its "Stablecoins Bill" on 21 May. This law imposes a strict framework for stablecoins and proves its will to become the Asian hub of digital finance. A text that resonates far beyond the region. The article Soon Chinese stablecoins via Hong Kong? The "Stablecoins Bill" has just been adopted appeared first on Cryptoast.

20 hours ago

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