Hong Kong Finalizes Stablecoin Rules Effective Aug. 1, Warns Against Hype as Licensing Delayed to 2026
Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, has finalized its regulatory framework for stablecoin issuers, publishing two sets of directives that will enter into force on August 1. Although the framework is now in place, the HKMA should issue the first batch of Stableloin licenses at the beginning of 2026, and called on potential emissions to submit their applications by the beginning of 2026, and called on potential transmitters to subject their applications by the beginning of 2026, and called on potential transmitters to subject their applications by the end of 2026.
Hong Kong pushes after the act genius
On Tuesday, the HKMA published finalized guidelines and consultation conclusions describing the upcoming rules for the surveillance of Stablescoin. The documents cover the supervision of approved transmitters, as well as the requirements of the LMA and the CTF. As part of the new framework, Hong Kong will also launch a public register of stablecoin issuers under license.
“In the future, the public can refer to the register of License Stablecoin issuers as indicated on the HKMA website,” said the regulator.
At a press conference, Hong Kong Monetary Authority (HKMA) said that the city’s stablecoin regulations will take effect this Friday, August 1. However, the first licenses for stabbing issuers should now be granted in early 2026.
Many on the market had hoped that the licenses would be issued this year, but HKMA comments suggest that it will adopt a more cautious approach.
The regulator added: “Given the well -established systems of Hong Kong, we do not plan to immediately reach the first stages.
The HKMA encourages anyone interested in requesting a Stablecoin license to contact the regulator by August 1. To be examined for the first approval cycle, candidates must also submit their full requests by September 30.
HKMA warns against media threshing and scams
HKMA has clearly indicated that, to date, no Stablecoin license had been granted, and warned the public against individuals or companies that claim to be authorized or regulated in Hong Kong.
The new guidelines oblige stable issuers to follow the rules on reserves management, issuance and repurchase of coins, risk management and correctly execution of their operations.
To avoid money laundering, approved transmitters must check customer identities, manage wallet risks, follow transfers monitoring rules and keep an eye on transactions.
The HKMA has also said that it would make checks and investigations if the rules are breaking and can take measures against those who do not comply. The authorities also advised skepticism to those who say they are applying, stressing that anyone holding stable -to -license without its own risk.
The HKMA expressed its concern with regard to media threshing on the market. The CEO Eddie highlighted an increase in excitement around the stablescoins which had triggered a strong increase in commercial activity and share prices, means that the regulator believes largely unjustified.
