Hong Kong to implement Stablecoin Ordinance on August 1, 2025—Exemption criteria also specified
Summary
- The Hong Kong government announced the official implementation date of the Stablecoin Ordinance as August 1, 2025.
- The ordinance regulates activities such as the issuance and trading of stablecoins, stating that only officially authorized entities may provide related services.
- It is specified that an exemption for certain stablecoins may be granted to professional investors, and the ordinance will undergo a preliminary review and scrutiny process in the Legislative Council.
The Hong Kong government has officially announced that the implementation date for the Stablecoin Ordinance (Cap. 656) will be August 1, 2025.
On the 6th (local time), the Hong Kong government stated through its official website that the Stablecoin Ordinance will come into effect on August 1. Previously, the ordinance was promulgated in the gazette on May 30, and the implementation date was set by a joint notice from the Secretary for Financial Services and the Treasury and the Secretary for the Treasury.
This ordinance regulates activities related to the issuance and trading of stablecoins, stipulating that only entities with official authorization may provide related services. At the same time, the government has announced an exemption clause that allows certain stablecoins to be offered to professional investors without authorization. This only applies to professional investors as defined by the criteria in the Securities and Futures Ordinance (Cap. 571).
Meanwhile, the Hong Kong Monetary Authority (HKMA) is continuing discussions on detailed regulatory requirements including anti-money laundering and counter-terrorist financing measures. The ordinance will be submitted to the Legislative Council on June 11 for preliminary review and subsequent scrutiny.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
