Hong Kong Embraces Blockchain-Based Payments: New Regulatory Framework for Stablecoins

The Hong Kong Monetary Authority (HKMA) has unveiled a comprehensive regulatory framework designed to drive the adoption of blockchain-based payment solutions, specifically focusing on stablecoins. This new regime, effective August 1, 2025, will reshape Hong Kong’s role in the global financial landscape. The HKMA aims to foster innovation and bolster Hong Kong’s standing as a leading financial center while navigating the exciting possibilities of blockchain technology.