Hong Kong Government: Regulated Stablecoin Expected to Launch in Mid to Late 2022

BlockBeats News, June 27th, the Hong Kong government stated in a written response to the Legislative Council that the Hong Kong Monetary Authority granted two bank-backed institutions a stablecoin issuer license in April 2026. According to the current business plans of the two institutions, the regulated stablecoin in Hong Kong is expected to be launched sometime between the middle and latter half of this year.

The Hong Kong government indicated that the Monetary Authority has sent letters to unregulated entities operating stablecoin issuance businesses in the market explaining the legal requirements and will continue to follow up; if necessary, individual cases may be referred to the police or Department of Justice for handling. The government also stated that this year it will submit a bill to the Legislative Council to establish a regulatory framework for virtual asset trading, custody, advisory, and management service providers.