The Hong Kong Monetary Authority (HKMA) has officially released documentation outlining its upcoming stablecoin issuer licensing framework, which is set to take effect on August 1, 2025.
The new regime includes regulatory compliance rules, anti-money laundering (AML) guidelines, licensing procedures, and transitional arrangements for entities already operating in the digital asset space.
As part of its phased implementation approach, the HKMA is encouraging potential applicants to initiate contact by August 31, with a recommendation to submit full applications by September 30 for priority review and early consideration.
The move signals Hong Kong’s growing commitment to formalize oversight of stablecoins, aiming to balance innovation with financial system stability and consumer protection.
The new framework is expected to have a major impact on Asia’s digital finance sector. By offering legal clarity and regulatory standards, Hong Kong could attract more stablecoin issuers and fintech companies seeking a compliant operating base in the region. It may also set a precedent for other jurisdictions in Asia, reinforcing the city’s ambitions to become a leading hub for regulated crypto innovation.
Nigeria is taking a decisive step toward embracing stablecoin adoption, as the country’s Securities and Exchange Commission (SEC) outlined its readiness to support digital currency innovation—under clear regulatory conditions.
South Korea’s top financial watchdog has issued informal guidance urging local asset managers to scale back their investments in crypto-related stocks, according to a Korean Herald report.
In a surprising move on Tuesday, the U.S. Securities and Exchange Commission (SEC) initially approved Bitwise’s proposal to convert its cryptocurrency index fund into a full-fledged exchange-traded fund (ETF)—only to halt the decision just hours later.
Senators Tim Scott, Cynthia Lummis, Bill Hagerty, and Bernie Moreno (R-OH) have released a discussion draft of a new digital asset market structure bill—framed as the Senate counterpart to the CLARITY Act.