Hong Kong will implement its new Stablecoins Ordinance on August 1, formalizing the city’s regulatory framework for stablecoin-related activities and introducing a licensing regime aimed at strengthening oversight of the fast-growing digital asset sector. The ordinance, which was officially gazetted on May 30, is a key element of Hong Kong’s broader push to position itself as a regional hub for regulated digital finance. Under the new regime, entities engaged in stablecoin issuance or related activities
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