Hong Kong expands crypto rules to stablecoins and tokenization
- —Hong Kong's stablecoin ordinance has been in force since Aug. 1, 2025, with licences required for HKD-pegged issuers
- —The HKMA granted its first stablecoin issuer licences to two firms on April 10, 2026
- —Issuers must hold at least HK$25 million in paid-up capital and a separate reserve pool per stablecoin
- —The SFC requires 98% of client assets in cold storage and platform capital of at least HK$5 million
Why it matters: Hong Kong is building separate regimes for stablecoins and tokenization, setting a benchmark for Asian regulators and for issuers such as Tether and Circle.
Source: TokenPost