The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, announced the implementation of the Hong Kong Stablecoin Regulations, stating that as of August 1, 2025, 36 institutions have applied for licenses.
This regulatory measure highlights Hong Kong's commitment to fostering a stable cryptocurrency market, which may influence global stablecoin standards and encourage stakeholders in the industry to maintain a cautiously optimistic attitude.
36 institutions are competing for the Hong Kong Monetary Authority's stablecoin licenses
The Hong Kong (Stablecoin Regulations) will come into effect on August 1, 2025, paving the way for the Hong Kong Monetary Authority (HKMA) to handle stablecoin license applications. According to HKMA Chief Executive Eddie Yue, 36 institutions have submitted applications, which are currently under review.
Mr. Yue emphasized that more detailed information from applicants will be重点收集, covering risk management, reserve assets, and application scenarios. A licensing decision is expected to be made in March, but due to strict standards, the number of initial licenses may be limited.
BingX offers exclusive rewards and top security guarantees for new users and high-volume cryptocurrency traders.
Industry reactions highlight cautious optimism, especially after Financial Secretary Paul Chan reiterated the 'active and prudent' approach. The market is looking forward to the release of detailed guidance, while various institutions are waiting for a clear statement on the licensing terms.
Hong Kong's regulatory measures reflect global trends.
Did you know? The Hong Kong stablecoin regulations align with global trends, emulating the relevant provisions after the United States' CLARITY Act in 2025, aiming to standardize stablecoin regulation.
Ethereum (ETH) is currently trading at $2,254.75, with a market capitalization of 272,133,748,420. According to CoinMarketCap, as of February 2, 2026, the price of ETH has decreased by 37.91% over the past 90 days. Trading volume has decreased by 5.49% in the last 24 hours, with a circulating supply of 120,693,748.
The research team at Coincu believes that Hong Kong's stablecoin regulatory framework may promote global cooperation and attract more investment. The cautious attitude of this mechanism may bring stability to Hong Kong's thriving fintech sector.
Financial Secretary Paul Chan said, "The first batch of licenses is expected to be issued in the first quarter of 2026, and we will take an 'active and prudent' approach."