Hong Kong: "Stablecoin Regulations" will take effect on August 1, 2025.

The Hong Kong Special Administrative Region Government today published the "Stable Coin Ordinance Notice" in the Gazette, designating August 1, 2025 as the date on which the "Stable Coin Ordinance" will come into effect. The Secretary for Financial Services and the Treasury, Christopher Hui, stated: "After the ordinance comes into effect, the licensing regime will provide appropriate regulation for relevant stable coin activities, marking a milestone in promoting the sustainable development of Hong Kong's stable coin and digital asset ecosystem."