Hong Kong Monetary Authority: Implementing a regulatory framework for stablecoin issuers

[Hong Kong Monetary Authority: Implementing Regulatory Framework for Stablecoin Issuers] The Hong Kong Monetary Authority (HKMA) today issued the following document regarding the regulatory framework for stablecoin issuers, which will come into effect on August 1, 2025:

• Summary of Consultation on the "Guidelines for Regulating Licensed Stablecoin Issuers"
• Summary of the consultation on the "Guidelines for Combating Money Laundering and Terrorist Financing (Applicable to Licensed Stablecoin Issuers)" and the guidelines;
• Summary of the Licensing System for Stablecoin Issuers related to the licensing system and application procedures;
• Summary of the Transitional Provisions for Existing Stablecoin Issuers The two sets of guidelines will be published in the Gazette on August 1, 2025. The Hong Kong Monetary Authority encourages institutions intending to apply for a license to contact the Monetary Authority on or before August 31, 2025 (Sunday), so that the Monetary Authority can convey regulatory expectations and provide appropriate feedback. As of today, the Monetary Authority has not issued any licenses.