Hong Kong regulators are finalizing stablecoin licensing rules, stressing global risk awareness, cross-border compliance, and differences from mainland China’s stance.
Hong Kong Monetary Authority chief Yu Weiwen confirmed receiving 36 applications for stablecoin issuer licenses, with initial approvals targeted for March. Authorities are concluding review and research on licensing, emphasizing risk management, sufficient asset reserves, compliance requirements, and adherence to forex and cross-border rules. Investors are cautioned to recognize regulatory differences with mainland China and avoid unlicensed products. This initiative aims to build a regulated stablecoin ecosystem aligned with global standards while safeguarding local financial stability.