The Hong Kong Monetary Authority issues guidelines for stablecoin issuers, applications can be submitted by September 30th or earlier.

The Hong Kong Monetary Authority today issued the "Licensed Stablecoin Issuer Regulatory Guide" and "Anti-Money Laundering and Counter-Terrorist Financing Guide" for the regulatory system for stablecoin issuers starting from August 1, 2025, as well as summaries of the two guides. The two guides will be gazetted on August 1, 2025. The Hong Kong Monetary Authority also released a "Summary of the Stablecoin Issuer Licensing System" and a "Summary of the Transitional Provisions for Existing Stablecoin Issuers" related to the licensing system and application procedures. The Hong Kong Monetary Authority stated that no licenses have been issued as of today. Institutions interested in applying for a license are encouraged to contact the Monetary Authority by August 31, 2025, to convey regulatory expectations and provide feedback as appropriate. The licensing process will be an ongoing process, and if individual institutions believe they are fully prepared and wish to be considered early, they should submit an application to the Monetary Authority by September 30, 2025.