The first batch of stablecoin issuer licenses in Hong Kong is expected to be granted in early 2026, the Hong Kong Monetary Authority (HKMA) said during a media briefing on Tuesday (July 29).
According to Reuters, the city’s new stablecoin legislation is set to come into force on August 1, as Hong Kong moves ahead with efforts to position itself as a global digital asset hub.
While market participants had anticipated that the first licenses would be issued before the end of this year, the HKMA’s latest comments underscore a more cautious regulatory approach.
Darryl Chan, Deputy Chief Executive of the HKMA, noted that only “a handful” of licenses will be granted in the initial round.
Investor interest in crypto-related stocks has surged since the stablecoin bill was passed in May.
Shares of Guotai Junan International have jumped 450% after the broker announced regulatory approval last month to offer cryptocurrency trading services in Hong Kong.
At the same time, the HKMA has repeatedly warned of risks surrounding the increasing speculation in the stablecoin space.
In a statement on July 29, the central banking authority urged market participants to “exercise due caution in their public communications” and avoid making claims that could be misinterpreted or create unrealistic expectations.
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