HKMA issues stablecoin rules ahead of Friday rollout

Hong Kong has issued guidelines on its stablecoin regulatory regime that are set to take effect on Friday, including a six-month transition period.

The Hong Kong Monetary Authority has published guidelines on the supervision and anti-money laundering requirements for stablecoin issuers and encouraged interested parties to contact the HKMA by the end of August. This will allow the regulator to communicate regulatory expectations and provide feedback as appropriate, the HKMA said in a statement on Tuesday.

While licensing will be an ongoing process, interested parties that consider themselves sufficiently ready and wish to be considered early should submit their application to the HKMA by the end of September, it said.

Under the Stablecoins Ordinance, anyone who issues a specified stablecoin in Hong Kong, or tokens with reference to the local currency, as well as actively promotes stablecoins to the public in the city, must obtain a license from the HKMA beforehand.

Preexisting stablecoin issuers may carry on their operations in Hong Kong before the end of January 2026, provided they apply for a license before October 31, one of the guidelines showed. Those who do not apply or have not fulfilled the regulatory requirements have to close down their business in November.

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