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Stablecoins in Hong Kong

Regulatory framework and compliance status for stablecoins in Hong Kong

Overview

Region: Asia Pacific
ISO Code: HK
General Stance: permissive

Regulatory Framework: Stablecoin Bill (proposed)
Licensing Required: Yes

Licensing Notes

Licensing framework for fiat-referenced stablecoins expected 2025. Sandbox available.

Regulator

Hong Kong Monetary Authority (HKMA)

Official Website →

Permitted Stablecoins

2

First Digital USD

Restricted/Prohibited

1

Regulatory Sources

According toFirst Digital Labsas of January 1, 2024
According toHKMA Implementation of Stablecoin Regulatory Regimeas of July 29, 2025
According toTechteryx / TrueUSD Official Websiteas of January 1, 2024
According toHKMA Regulatory Framework for Stablecoin Issuersas of January 1, 2024

Disclaimer: This information reflects issuer disclosures and regulatory guidance as of the dates indicated. Regulations change frequently. Verify current status with qualified legal counsel before making decisions. This registry does not provide investment advice.