Hong Kong Enacts Stablecoin Regulations in August 2025

The Hong Kong government is gearing up for the implementation of stablecoin regulations on August 1, 2025, with the introduction of the Stablecoin Ordinance (Chapter 656). This legislation will introduce a licensing framework for stablecoin activities. Notably, professional investors will gain access to specified stablecoins that are not subject to licensing under this new regime. Christopher Hui, Secretary for Financial Services and the Treasury, highlighted that this ordinance marks a pivotal development in fostering the local stablecoin and digital asset ecosystem.