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Hong Kong's Stablecoins Ordinance To Take Effect On 1 August 2025, Welcoming A New Era For Virtual Asset Regulation
The Hong Kong Government has confirmed that the Stablecoins Ordinance will take effect on 1 August 2025, requiring issuers of fiat-referenced stablecoins in Hong Kong or those pegged to the Hong Kong dollar ("HKD") to be licensed by the Hong Kong Monetary Authority ("HKMA").
Stevenson, Wong & Co