Hong Kong's stablecoin law requires any entity issuing Hong Kong dollar-referenced stablecoins or operating in Hong Kong to obtain a license from the Hong Kong Monetary Authority by year-end

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Hong Kong just hit the gas on stablecoin regulation, passing a bill that makes licensing mandatory for anyone issuing fiat-referenced stablecoins. Under the new Stablecoins Bill, any business issuing stablecoins tied to the Hong Kong dollar or operating in Hong Kong must get a license from the Hong Kong Monetary Authority.

This landmark legislation will allow major institutions to apply for stablecoin issuance licenses from the Hong Kong Monetary Authority (HKMA) by the end of the year