Hong Kong to Issue First Stablecoin Licenses in Regulatory Push
Hong Kong accelerates its crypto regulatory framework with plans to grant its first stablecoin issuer licenses next month. Financial Secretary Paul Chan confirmed the MOVE in his 2026–27 budget speech, marking a pivotal shift toward supervised digital asset innovation. The licensing regime will initially target fiat-backed stablecoin issuers, requiring strict compliance with financial safeguards.
The initiative forms part of a broader regulatory overhaul. A forthcoming bill will extend licensing requirements to digital asset custodians and traders, bringing OTC crypto transactions under existing financial rules. The Securities and Futures Commission is concurrently developing liquidity solutions to enhance market depth and price discovery mechanisms.
