Hong Kong’s Stablecoin Gold Rush: Firms Scramble for Licenses Before August 1 Deadline
Hong Kong's crypto scene just hit hyperdrive as stablecoin issuers race to secure licenses before the August 1 regulatory cutoff. The city's Financial Services Authority (FSA) is about to separate the wheat from the chaff—or more likely, the compliant from the 'creative accountants.'
Why the rush? Because come August, only licensed players get to play. Everyone else? They'll be stuck watching from the sidelines while the big boys mint fiat-pegged tokens legally. Expect late-night office takeout and overworked compliance teams across Central district this month.
Here's the kicker: The same regulators who spent years warning about crypto's risks are now gatekeeping its most boring—and profitable—corner. Irony tastes better with a side of banking license.
The implementation of the Stablecoin Ordinance approaches August 1, 2025, intere... Read More
