Hong Kong Says Licensed Stablecoins to Launch From Midyear to Late 2026

Hong Kong said licensed stablecoins will launch between midyear and the second half of 2026. The government also plans to introduce a new regulatory framework this year covering virtual-asset trading, custody and advisory services.

BlockBeats reported on June 27 that the government, in a written reply to the Legislative Council, said the Hong Kong Monetary Authority granted stablecoin issuance licenses to two banking-related institutions in April. Based on their business plans, the regulated stablecoins are set to go live between midyear and the second half of this year.

The government separately defined stablecoins as a blockchain-based means of payment rather than an investment or speculative product. It urged the public to be cautious about speculative investing fueled by market overheating.

"Stablecoins are not investment or speculative products, but a blockchain-based means of payment," the government said. "Investors should not make irrational decisions based solely on market overheating or price increases."

The government also sent an official notice to unlicensed stablecoin issuers requiring them to comply with relevant laws and regulations.