Hong Kong: The Stablecoins Ordinance will come into effect on August 1, 2025

The Hong Kong Special Administrative Region Government published the "Stablecoins Ordinance (Effective Date) Notice" in the Gazette today (June 6), designating August 1, 2025 as the date on which the Stablecoins Ordinance (Chapter 656) (the "Ordinance") will come into effect. After the regulation comes into effect, the licensing system will provide appropriate regulations for related stablecoin activities, which is a milestone in promoting the sustainable development of Hong Kong's stablecoin and digital asset ecosystem, "said Xu Zhengyu, Secretary for Financial Services and the Treasury