The Government today published in the Gazette the Stablecoins Ordinance (Commencement) Notice to appoint August 1, 2025, as the commencement date for the Stablecoins Ordinance to come into operation.
Gazetted last Friday, the ordinance mainly aims to supervise activities involving stablecoins, and to introduce a licensing regime for regulated stablecoin activities in Hong Kong.
Secretary for Financial Services & the Treasury Christopher Hui said after the ordinance comes into force, the licensing regime will provide suitable guardrails for relevant stablecoin activities.
“It will be a milestone in facilitating the sustainable development of the stablecoin and digital asset ecosystem in Hong Kong.”
The Financial Secretary has also made the Stablecoins Ordinance (Specification of Persons for Purposes of Section 9(2)(b)(iii)) Notice to allow the offering of specified stablecoins issued by a person who is not granted a licence under the ordinance to professional investors.
The Monetary Authority has launched a consultation on the detailed regulatory requirements of the regime, including provisions related to anti-money laundering and the counter-financing of terrorism.
The notices will be tabled before the Legislative Council on Wednesday for negative vetting.
