The Hong Kong Monetary Authority (HKMA) has circulated draft rules that would lower capital requirements for banks dealing with cryptocurrencies, provided issuers demonstrate adequate risk safeguards. These rules, adapting Basel standards to Hong Kong’s banking system and set for implementation in early 2026, primarily target assets on public blockchains. Meanwhile, Chinese authorities have ordered domestic companies to halt stablecoin research and seminars, citing concerns about illicit activities. This creates tension with Hong Kong’s new stablecoin licensing regime, which attracted 77 firms but may now see reduced participation from mainland-linked institutions. Despite the crackdown, discussions in Shanghai have explored yuan-denominated stablecoins to strengthen the currency’s global role.
about HKMA Eases Crypto Bank Rules as China Tightens Stablecoin GripHong Kong Monetary Authority (HKMA)
0 in Finance and 0 in Crypto last weekHong Kong Warns Investors on Stablecoin Hype Risks
Hong Kong’s financial regulators, the HKMA and SFC, have cautioned investors against making hasty investments in stablecoin-related assets due to recent sharp price fluctuations tied to speculation and unverified licensing claims. The HKMA emphasized its strict approval process for stablecoin licenses, noting that only a few applicants will meet the rigorous capital, governance, and risk management requirements. Meanwhile, the SFC urged investors to avoid decisions based on hype and warned of potential market manipulation, pledging strict enforcement against misleading conduct. The regulators also reminded companies to maintain transparency to uphold market integrity as Hong Kong rolls out its stablecoin framework.
about Hong Kong Warns Investors on Stablecoin Hype RisksStandard Chartered Leads Hong Kong’s First HKD Stablecoin Race
Standard Chartered, Animoca Brands, and HKT have launched Anchorpoint Financial, a joint venture seeking a license to issue an HKD-backed stablecoin under Hong Kong’s new regulatory regime. The venture, which has formally notified the HKMA, builds on over a year of collaboration in the HKMA’s stablecoin sandbox. The proposed stablecoin will serve as a settlement tool for cross-border trade and a gateway for Web3 applications, leveraging HKT’s mobile payment infrastructure. Hong Kong’s Stablecoin Issuers Bill, passed in May, mandates full reserve backing, redemption rights, and strict AML compliance, with the first licenses expected in early 2026. Anchorpoint’s early filing positions it as a frontrunner in a competitive field, though adoption may hinge on regulatory clarity and integration challenges.
about Standard Chartered Leads Hong Kong's First HKD Stablecoin RaceJD.com Plans Hong Kong Dollar Stablecoin Under HKMA Rules
JD.com, often called China’s Amazon, is preparing to launch a Hong Kong dollar stablecoin under the Hong Kong Monetary Authority’s (HKMA) regulatory framework. The company has registered two entities, Jcoin and Joycoin, through its fintech subsidiary JD Coinlink Technology, signaling its intent to be among the first issuers under HKMA’s stablecoin regime. JD Coinlink is already a participant in HKMA’s stablecoin sandbox program, highlighting the firm’s strategic push into crypto-based financial services. The move aligns with Hong Kong’s efforts to establish itself as a regulated hub for digital assets.
about JD.com Plans Hong Kong Dollar Stablecoin Under HKMA RulesHong Kong Enforces Strict Stablecoin Laws from Aug 1
From August 1, Hong Kong will implement its Stablecoin Ordinance, criminalizing the offering or advertising of unlicensed fiat-referenced stablecoins (FRS) to retail investors. Violators face penalties of up to 50,000 HKD (approx. $6,300) and six months in jail. The Hong Kong Monetary Authority (HKMA) has issued a public warning, advising investors to steer clear of unlicensed stablecoin promotions to avoid legal repercussions. This move underscores Hong Kong’s tightening regulatory framework for digital assets, particularly stablecoins, to protect retail investors and maintain financial stability.
about Hong Kong Enforces Strict Stablecoin Laws from Aug 1Hong Kong Launches Stablecoin Licensing on August 1
Hong Kong’s stablecoin licensing framework, set to launch on August 1, mandates that all fiat-referenced stablecoin issuers obtain approval from the Hong Kong Monetary Authority (HKMA). The regulations, part of the updated ‘Policy Statement 2.0,’ enforce full reserve backing with high-quality liquid assets to ensure stability. The initiative is part of the ‘LEAP’ framework, which focuses on legal streamlining, expanding tokenized products, and advancing real-world asset (RWA) tokenization. Authorities are also reviewing laws to facilitate tokenized bonds and other assets while clarifying tax incentives for blockchain-based activities. Major firms like Ant Group have already expressed interest in applying for licenses, signaling strong industry engagement.
about Hong Kong Launches Stablecoin Licensing on August 1South Korea Halts CBDC, Pushes Stablecoins as Hong Kong Regulates
South Korea has halted its CBDC pilot program, opting instead to encourage won-denominated stablecoins under new regulatory frameworks. The decision reflects concerns over costs and commercialization uncertainties, while aligning with the new administration’s crypto-friendly policies. Meanwhile, Hong Kong is implementing strict stablecoin regulations starting in 2025, aiming to bolster local currency usage in cross-border trade and support China’s de-dollarization strategy. Both countries are prioritizing stablecoins over CBDCs, signaling a shift toward private-sector innovation in digital assets. The article also highlights the growing importance of crypto wallets like Best Wallet, which offers security and utility for retail and institutional users alike.
about South Korea Halts CBDC, Pushes Stablecoins as Hong Kong RegulatesAnt Financial Seeks Stablecoin Licenses in Hong Kong, Singapore
Ant Financial, an affiliate of Alibaba, is pursuing stablecoin issuer licenses in Hong Kong and Singapore, aligning with new regulatory frameworks like Hong Kong’s Stablecoin Ordinance effective August 1. The company aims to leverage its blockchain-based Whale platform for cross-border payments and treasury management, processing a third of its $1 trillion transactions via blockchain in 2024. This development reflects broader industry trends, as major banks like Deutsche Bank and Societe Generale explore stablecoins, while tech firms consider integrating them into payment systems. The stablecoin market recently surpassed $250 billion in capitalization, signaling rapid growth and institutional interest.
about Ant Financial Seeks Stablecoin Licenses in Hong Kong, SingaporeChainlink (LINK) Gains Momentum as Derivatives Market Heats Up
Chainlink’s LINK token has remained stable between $12 and $16, with derivatives trading volume surging 55.6% to $907.35 million, signaling growing trader optimism. Open interest rose 13.1% to $643.3 million, while the long/short ratio slightly favors bullish bets. LINK’s price sits at $14.54, up 6.79% in 24 hours, with potential to test $16 resistance or retreat to $12 support. Beyond market activity, Chainlink is gaining traction in Hong Kong’s e-HKD pilot program, leveraging its Cross-Chain Interoperability Protocol (CCIP) for secure cross-border payments. The project is also expanding its influence through partnerships with institutions like Visa and ANZ Bank, while ranking among Ethereum’s top development projects. Recent integrations across 16 blockchains further solidify Chainlink’s role in advancing blockchain interoperability.
about Chainlink (LINK) Gains Momentum as Derivatives Market Heats UpVisa & Chainlink Test Cross-Border CBDC with HKMA
Visa and Chainlink completed a key milestone in the HKMA’s e-HKD+ Pilot Programme by testing a cross-border transaction combining CBDCs and stablecoins. The trial, involving ANZ, ChinaAMC, and Fidelity International, used Chainlink’s CCIP to bridge ANZ’s private blockchain with Ethereum’s testnet, enabling an Australian investor to swap AUD-backed stablecoins for e-HKD and purchase a tokenized money market fund. The process achieved near-instant settlement, eliminating traditional delays. Visa’s VTAP facilitated digital money movement, while Chainlink ensured compliance and security via smart contracts. The pilot highlights how blockchain can streamline cross-border investments, reduce intermediaries, and operate 24/7. With tokenized assets projected to surpass $2 trillion by 2030, the HKMA’s initiative sets groundwork for scalable digital finance. The next phase will evaluate performance and regulatory implications for CBDCs and stablecoins in global markets.
about Visa & Chainlink Test Cross-Border CBDC with HKMAHong Kong Enacts Stablecoin Licensing Law to Boost Crypto Hub Status
Hong Kong’s Legislative Council has approved a licensing regime for fiat-referenced stablecoin (FRS) issuers, mandating compliance with reserve management, redemption guarantees, and anti-money laundering (AML) standards. The law, part of Hong Kong’s push to become a digital asset hub, follows the collapse of crypto exchange JPEX in 2023 and seeks to restore trust in the sector. Issuers must meet strict requirements, including segregation of client funds and disclosure rules, with unauthorized ads banned even during a six-month grace period. The HKMA will further consult on detailed implementation. Meanwhile, the U.S. Senate is progressing with its own stablecoin bill, the GENIUS Act, signaling a global shift toward clearer crypto regulations. Hong Kong’s ordinance is set to take effect later this year, with transitional provisions for compliance.
about Hong Kong Enacts Stablecoin Licensing Law to Boost Crypto Hub StatusHong Kong Passes Landmark Stablecoin Regulation Bill
Hong Kong’s Legislative Council has passed a landmark bill to regulate fiat-backed stablecoins, with the law expected to take effect by the end of 2025. The new framework, overseen by the Hong Kong Monetary Authority (HKMA), introduces a licensing regime requiring issuers to meet stringent standards, including asset segregation, redemption guarantees, and compliance with anti-money laundering laws. The move aims to boost confidence in the city’s virtual asset ecosystem while positioning Hong Kong as a leader in Web3 development. Only licensed entities will be permitted to issue or promote stablecoins tied to the Hong Kong dollar, regardless of their location. Officials emphasize that the law aligns with global regulatory standards and will foster long-term industry growth.
about Hong Kong Passes Landmark Stablecoin Regulation Bill