Stablecoin regulation ranks among Hong Kong’s top financial priorities for 2025, with initial approvals expected by early 2026 and potential issuance of a Hong Kong dollar-pegged stablecoin.
Hong Kong’s Financial Services and the Treasury Bureau has received 36 applications for stablecoin licenses, with initial approvals now slated for early 2026 under rules emphasizing reserve backing, price stability, and anti-money laundering compliance. The regulation framework ranked third in Hong Kong’s 2025 top financial news list, underscoring its significance. Authorities also envision a Hong Kong dollar stablecoin. The Securities and Futures Commission plans to introduce trading and custody rules to the Legislative Council next year. In cryptocurrency markets, Bitcoin surged to $125,600 on U.S. President Donald Trump’s supportive comments before falling over 30% to $85,000.