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The Hong Kong "Stablecoin Ordinance" is poised for implementation, with the Hong Kong Monetary Authority (HKMA) scheduled to conduct a technical briefing on the regulatory framework for stablecoin issuers at 4:30 pm today. This briefing will be led by senior management, including Deputy Chief Executive Chen Weimin. The HKMA anticipates releasing implementation guidelines for stablecoin regulation this month, encompassing critical aspects such as anti-money laundering measures and customer identity verification. The authority cautions the market to maintain a rational approach, emphasizing that the number of licenses for the initial batch of stablecoin issuers will be strictly limited to a single-digit figure, with the intention of completing all issuances within the year.
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