Hong Kong to Issue First Stablecoin Licenses in March

[madmax]

Hong Kong regulators are preparing to roll out the city’s first fiat-referenced stablecoin licenses as early as March, with approvals expected to be limited in the initial phase. Financial Secretary Paul Chan said authorities will ensure licensed issuers explore stablecoin use cases in a compliant and risk-controlled manner.

HKMA Chief Executive Eddie Yue confirmed that regulatory reviews are focusing on risk management, asset backing, Anti-Money Laundering (AML) safeguards, and real-world applications. In parallel, the government plans to introduce licensing regimes for digital asset dealers and custodians, while amending tax laws to implement the OECD’s Crypto-Asset Reporting Framework (CARF), aligning Hong Kong with international transparency standards.

[tradelikepro]

meanwhile other countries still debating what a stablecoin is