Hong Kong Stablecoin Regulations to Take Effect August 1, 2025
Hong Kong's stablecoin regulatory framework will become enforceable on August 1, 2025, following its official gazetting. The new regime introduces a licensing system for issuers and service providers, with the first approvals anticipated later this year. Unlicensed operators may only offer tokens to professional investors under strict limitations.
The ordinance mandates 100% reserve backing with high-quality liquid assets, segregated from corporate funds and held in trust. Issuers must maintain minimum capital of HK$25 million or 1% of circulating stablecoins—whichever is higher—while redemption guarantees within one business day become compulsory. The HKMA has initiated consultations on operational guidelines to complement these requirements.
