Hong Kong's Financial Services and the Treasury Bureau has published a commencement notice in the Gazette setting 1 August 2025 as the date the Stablecoins Ordinance will come into operation, activating a new supervisory and licensing regime for regulated stablecoin activities in Hong Kong. The Stablecoins Ordinance was gazetted on 30 May 2025 and provides for commencement by Gazette notice made by the Secretary for Financial Services and the Treasury. Separately, the Financial Secretary has specified “professional investors” (as defined under the Securities and Futures Ordinance) as a class of persons for the purposes of section 9(2)(b)(iii) of the Ordinance, allowing specified stablecoins issued by a person that is not licensed under section 15 to be offered to professional investors. The Hong Kong Monetary Authority has also launched a consultation on the detailed regulatory requirements of the regime, including anti-money laundering and counter-financing of terrorism provisions. The two notices will be tabled before the Legislative Council on 11 June for negative vetting.

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