Emphasis on prudent risk management and regulated issuance.
Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, announced the Hong Kong Stablecoin Ordinance’s implementation, with 36 institutions applying for licenses as of August 1, 2025.
This regulatory move underscores Hong Kong’s commitment to fostering a stable crypto market, potentially influencing global stablecoin standards and encouraging cautious optimism among industry stakeholders.
The Hong Kong Stablecoin Ordinance took effect on August 1, 2025, setting the stage for the HKMA to process stablecoin license applications. According to Chief Executive Eddie Yue, 36 institutions submitted applications, which are under ongoing assessment.
Eddie Yue emphasized a focus on collecting more detailed information from applicants, covering risk management, reserve assets, and application scenarios. Licensing decisions are expected in March, but due to strict standards, initial license numbers might be limited.
BingX offers exclusive rewards and top-tier security for new and high-volume crypto traders.
Industry reactions underscore cautious optimism, especially after Financial Secretary Paul Chan reiterated a “proactive yet prudent” approach. The market anticipates detailed guidance, while institutions await clarity on licensing terms.
Did you know? The Hong Kong Stablecoin Ordinance aligns with global trends, mirroring U.S. regulations post-2025’s CLARITY Act, aiming for standardized stablecoin oversight.
Ethereum (ETH) currently trades at $2,254.75 with a market cap of 272,133,748,420. Over 90 days, ETH’s price fell by -37.91% per CoinMarketCap data as of February 2, 2026. Trading volume dropped by -5.49% in the past 24 hours as circulating supply reached 120,693,748.
According to Coincu’s research team, the stablecoin regulatory framework in Hong Kong could lead to enhanced global collaboration and investment influx. The regime’s cautious nature may invite stability in the region’s burgeoning fintech landscape.
“First licenses are expected in Q1 2026 under a ‘proactive yet prudent’ approach,” said Paul Chan Mo-po, Financial Secretary.
