Close Menu
Chain Tech Daily

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Ethereum’s tenth year ushers in new prediction market plays

    July 30, 2025

    DeFi is paying big to accumulate USDC

    July 30, 2025

    PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

    July 30, 2025
    Facebook X (Twitter) Instagram
    Chain Tech Daily
    • Altcoins
      • Litecoin
      • Coinbase
      • Crypto
      • Blockchain
    • Bitcoin
    • Ethereum
    • Lithosphere News Releases
    Facebook X (Twitter) Instagram YouTube
    Chain Tech Daily
    Home » Hong Kong freezes stablecoin licensing through 2025 as rules take effect
    Crypto

    Hong Kong freezes stablecoin licensing through 2025 as rules take effect

    James WilsonBy James WilsonJuly 29, 20253 Mins Read
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email



    Hong Kong’s decision to hold off on stablecoin licensing until 2025, as the regulatory regime prepares for Gazette publication on August 1, signals caution over rapid adoption. But is this a strategic pause or a bottleneck for crypto’s next frontier?

    Summary

    • Hong Kong will not issue stablecoin licenses in 2025, despite finalizing a regulatory framework effective August 1.
    • The HKMA’s guidelines focus on reserve transparency, AML compliance, and capital requirements, with early applications due September 30.
    • The delay reflects Hong Kong’s cautious, phased approach to crypto regulation, starkly contrasting with the U.S. GENIUS Act’s rapid rollout.

    On July 29, the Hong Kong Monetary Authority confirmed it will not issue any stablecoin licenses this year, despite finalizing a comprehensive regulatory framework that takes effect on August 1.

    The guidelines impose strict requirements on issuers, including anti-money laundering controls and reserve transparency. Deputy CEO Darryl Chan Wai-man cited the “heavy workload” of vetting applications, with approvals unlikely before early 2025, and even then, it might be only for a select few.

    Hong Kong chooses rigor over speed in stablecoin blueprint

    While Hong Kong’s stablecoin licensing pause stretches into 2025, the newly finalized rules reveal a regulatory framework designed for precision. The HKMA’s July 29 release outlines two core guidelines: one dictating capital and operational requirements for licensed issuers, and another enforcing stringent anti-money laundering protocols, while clarifying how existing issuers will be transitioned into the new regime.

    After taking effect next month, violators risk penalties under Hong Kong’s Stablecoins Ordinance. Meanwhile, prospective applicants face a tight timeline, with the regulator urging them to signal intent by August 31 for preliminary feedback, with full submissions due by September 30 for early consideration.

    Though licensing remains “ongoing,” the HKMA’s phased approach suggests a bottleneck: only the most compliant candidates will clear initial scrutiny. Deputy CEO Darryl Chan’s warning, that explosive growth is unlikely, hints at a deliberate throttling of market entry.

    The U.S. contrast

    Hong Kong’s measured rollout clashes starkly with Washington’s aggressive stablecoin strategy. Signed by President Trump on July 18, the GENIUS Act mandates 100% reserve backing for stablecoins, monthly transparency reports, and federal AML oversight, all while fast-tracking approvals. Where Hong Kong prioritizes deliberation, the U.S. framework thrives on speed, explicitly aiming to “move LIGHTNING FAST” (as Trump tweeted) to dominate digital asset innovation.

    The divergence reflects deeper priorities: Hong Kong seeks stability through selective licensing, while America bets on scale and dollar hegemony. Yet both regimes share a focus on consumer safeguards. Hong Kong’s rules prohibit misleading claims about licensing status, mirroring the GENIUS Act’s crackdown on deceptive marketing.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    James Wilson

    Related Posts

    Crypto July 30, 2025

    Ethereum’s tenth year ushers in new prediction market plays

    Crypto July 30, 2025

    SUI price drags despite booming TVL, can it catch up?

    Crypto July 30, 2025

    Hoskinson predicts ADA could 1,000x

    Crypto July 30, 2025

    Are Samourai wallet founders going to jail? Execs set to plead guilty in DOJ case

    Crypto July 30, 2025

    RI Mining launches next-generation cloud mining contracts

    Crypto July 30, 2025

    Are Bitcoin whales leaving while Ethereum gains?

    Leave A Reply Cancel Reply

    Don't Miss
    Crypto July 30, 2025

    Ethereum’s tenth year ushers in new prediction market plays

    Ten years after it started, Ethereum is powering new ideas like DeFi, NFTs, and DAOs—and…

    DeFi is paying big to accumulate USDC

    July 30, 2025

    PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

    July 30, 2025

    SUI price drags despite booming TVL, can it catch up?

    July 30, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • YouTube
    • LinkedIn
    Our Picks

    Ethereum’s tenth year ushers in new prediction market plays

    July 30, 2025

    DeFi is paying big to accumulate USDC

    July 30, 2025

    PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

    July 30, 2025

    SUI price drags despite booming TVL, can it catch up?

    July 30, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Don't Miss
    Crypto July 30, 2025

    Ethereum’s tenth year ushers in new prediction market plays

    Ten years after it started, Ethereum is powering new ideas like DeFi, NFTs, and DAOs—and…

    DeFi is paying big to accumulate USDC

    July 30, 2025

    PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

    July 30, 2025

    SUI price drags despite booming TVL, can it catch up?

    July 30, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    About Us
    About Us

    ChainTechDaily.xyz delivers the latest updates and trends in the world of cryptocurrency. Stay informed with daily news, insights, and analysis tailored for crypto enthusiasts.

    Our Picks

    For Many Women, The Pain Of The Pandemic Led To Stronger Friendships

    January 15, 2020

    How A ‘Healthy’ Lifestyle Can Be Making You Tired

    January 15, 2020

    Fashion Influencers To Follow On Instagram In 2021

    January 15, 2020
    Lithosphere News Releases

    Imagen Network Expands Decentralized Infrastructure by Incorporating XRP for Fast Peer Transactions

    July 30, 2025

    Imagen Network Integrates Grok Framework to Enhance Feed Logic and Adaptive User Experience

    July 29, 2025

    Imagen Network (IMAGE) Rolls Out XRP Infrastructure to Strengthen Scalable Social Curation

    July 28, 2025

    Imagen Network Builds Transparent Curation Engines Using RLUSD for Adaptive Web3 Interactions

    July 25, 2025
    X (Twitter) Instagram YouTube LinkedIn
    © 2025 Copyright

    Type above and press Enter to search. Press Esc to cancel.