- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
Earn- More
Hong Kong Monetary Authority: "Stablecoin Regulation" establishes a 6-month transition period and implements a classification treatment for existing stablecoin issuers
BlockBeats News, July 29th, the Hong Kong Monetary Authority announced that the "Stablecoin Regulation" will have a 6-month transition period after it takes effect on August 1st, and will implement a classification treatment for existing stablecoin issuers: those that comply with regulatory requirements may obtain a temporary license; those who fail to meet the standards within 3 months must cease operations within 4 months; those that do not meet the licensing criteria must cease operations within 1 month of receiving notice. Regulatory requirements include full reserves, same-day redemption, establishment of a presence in Hong Kong, and maintaining sufficient financial resources, among others. Initially, only a small number of licenses will be issued, and issuers are required to implement customer due diligence, transaction monitoring, and other compliance measures. Violators will face penalties such as fines, license suspension, or revocation.
As of today, the HKMA has not issued any licenses. The public can refer to the licensed stablecoin issuers published on the HKMA website in the future. The public should remain vigilant against any claims of regulated or licensed stablecoin issuers in Hong Kong, as well as individuals claiming to be applying for a license. If the public holds unlicensed stablecoins, they do so at their own risk.
You may also like
Why Is Gold, US Stocks, Bitcoin All Falling?
Key Market Intelligence for February 5th, how much did you miss out on?
Wintermute: By 2026, crypto had gradually become the settlement layer of the Internet economy
Tether Q4 2025 Report: USDT Market Cap Nears $190 Billion, Multiple Metrics Reach All-Time Highs
Kyle Samani's about-face, one of the biggest believers in web3, has also left the industry
Bhutan Quietly Sells Over $22M in Bitcoin, Drawing Speculation Over Possible Moves
Key Takeaways Bhutan has transferred over $22 million in Bitcoin from sovereign wallets in the past week. The…
BitMine Endures a $7B Unrealized Loss as Ethereum Dips Below $2,100
Key Takeaways BitMine is facing a significant financial challenge with an unrealized loss of over $7 billion in…
Trump-Linked World Liberty Financial Under Scrutiny Following $500 Million UAE Stake
Key Takeaways A U.S. House investigation is examining a $500 million UAE stake in Trump-related World Liberty Financial.…
Asia Market Open: Bitcoin Tumbles as Asian Equities Reflect Global Tech Retreat
Key Takeaways: Bitcoin’s price plunged by 6% to $72,000, reflecting the spillover effects from the global tech sector’s…
Crypto Firms Propose Concessions to Banks as Stablecoin Disputes Stall Key Crypto Bill
Key Takeaways: Crypto companies are attempting to navigate stablecoin disputes with banks but agreements remain elusive. Industry representatives…
CoolWallet Introduces TRON Energy Rental to Minimize TRX Transaction Costs
Key Takeaways CoolWallet has integrated TRON’s energy rental services, offering users lower transaction fees while maintaining asset security.…
CFTC Officially Withdraws Biden-Era Proposal to Ban Political and Sports Prediction Markets
Key Takeaways: The CFTC has rescinded a 2024 proposal and subsequent 2025 advisory that aimed to prohibit event…
Binance Says Assets Rose Amid Alleged Bank Run Attempt
Key Takeaways: Binance reported an unexpected increase in assets during a community-driven withdrawal campaign, challenging conventional expectations of…
Same Macro Tape, Different Bid – Gold Absorbs Flows as Bitcoin Swings
Key Takeaways: Gold is experiencing significant demand growth, especially via ETFs and central banks, projecting a robust performance…
Crypto Price Prediction Today, February 4 – Focus on XRP, Cardano, and Dogecoin
Key Takeaways Bitcoin is facing significant pressure, affecting the entire cryptocurrency market, including heavyweights like XRP, Cardano, and…
Vitalik Buterin Urges Ethereum Builders to Innovate Beyond Clone Chains
Key Takeaways Vitalik Buterin criticizes the trend of creating copy-paste EVM chains, encouraging developers to focus on truly…
Best Crypto to Buy Now February 4: XRP, Solana, Hyperliquid Picks
Key Takeaways XRP remains one of the top picks for cross-border transactions due to its high speed and…
XRP Price Prediction: Ripple Quietly Unlocks a Billion Tokens – Is a Price Shock Coming in the Next Few Hours?
Key Takeaways Ripple has released one billion XRP tokens into the market, potentially causing a shift in XRP…
Why Is Gold, US Stocks, Bitcoin All Falling?
Key Market Intelligence for February 5th, how much did you miss out on?
Wintermute: By 2026, crypto had gradually become the settlement layer of the Internet economy
Tether Q4 2025 Report: USDT Market Cap Nears $190 Billion, Multiple Metrics Reach All-Time Highs
Kyle Samani's about-face, one of the biggest believers in web3, has also left the industry
Bhutan Quietly Sells Over $22M in Bitcoin, Drawing Speculation Over Possible Moves
Key Takeaways Bhutan has transferred over $22 million in Bitcoin from sovereign wallets in the past week. The…
App