Hong Kong The Stablecoin license frame was officially posted on August 1. This is the first time that the City has presented a legal structure specifically for the handled digital tokens. This decision puts Hong Kong Monetary Authority (HKMA) responsible for approving companies that can issue stablecoins and how they work. The new law applies immediately.
What Stablecoin transmitters are now required to do
Under the new rules, any company offering stablecoins supported by the Hong Kong or the US dollar must obtain an HKMA license. It doesn’t matter if the company is based in Hong Kong or operating abroad. The requirements are strict: transmitters must keep complete reserves at all times, clearly separate customer funds from their own and guarantee that users can quickly exchange tokens. They will do it Also be subject to audits, compliance checks and verification to ensure that their management teams meet certain Standards.
Licenses are live, but the approvals come later
Even if the law is in force now, license won’t be distributed right away. The HKMA says that it will start to issue approvals at the beginning of 2026. There will be a limited number of licenses granted in the first wave, and companies hoping to be among the first need to move quickly. The deadline to report interest is August 31, 2025. Complete Requests must be submitted By September 30. This calendar establishes a clear rhythm for serious contenders.
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Deceptive marketing is delivered with penalties
The HKMA clearly indicated that no one should promote itself as an approved issuer until they In fact are. Any company captured to do so could face consequences. Only approved entities will be allowed to announce stablecoins to the general public. The regulator adopts a progressive approach, and this early stage East clearly supposed To define the tone and limit media threshing.
Some big names are already in the mixture
Several large companies have already expressed their interest. JD.com, Ant Group and Standard Chartered are among those who prepare to register. Some are aimed at delivering stablescoins from Hong Kong, while others are considering tokens supported by US dollars or yuan offshore. However, if a company plans to use the Chinese yuan, the HKMA waits complete Transparency around reserves and used use cases.
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Crypto fundraising is recruiting steam
The launch of the policy has coincided with a wave of capital activities in Hong Kong Fintech sector. In July, digital asset companies collected more than $ 1.5 billion in fresh capital. Groups like Osl, Dmall and Sensetime would have planned new offers related to stablescoins or tokenized obligations. There is clearly Momentum behind crypto projects regulated in the region.
Barriers for small players
Although it all seems promising, the entrance bar is high. Smaller startups could have trouble with the cost of compliance. Maintaining appropriate reserves, audit infrastructure and security features requires serious resources. This could leave the market concentrated among large companies for the moment.
Why this decision is important
The regime is part of a wider thrust to make Hong Kong a leading digital asset center. Authorities are trying to find the right middle between encouraging innovation and protecting users. With clear rules now on books, Hong Kong becomes one of the few financial centers To completely regulate the Fiat back tokens.
The upcoming road
The applications are open, but it will take time before the first approved transmitters are online. Observers will look to see who qualifies and if small players can compete in a realistic way. The standards established here can influence the way other markets react to stablecoins in the coming months.
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Main to remember
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The Hong Kong Stable Law is now active, forcing all HKD or USD tokens issuers to obtain a HKMA license.
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Companies must comply with strict rules: full reserves, separate customer funds, fast redemptions and regular audits.
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License approvals begin at the beginning of 2026, with a tight calendar for the first candidates to meet the deadlines of interest and submission.
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Marketing as an approved issuer without approval is prohibited, with penalties in place for misleading promotions.
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Large players like JD.com and Ant Group get involved, but high costs of compliance could limit small businesses.
The Stablecoin Post Hong Kong license regime entered into force appeared first on 99Bitcoins.
