Hong Kong will start enforcing its Stablecoin Ordinance on Aug. 1, making it illegal to offer or promote unlicensed fiat-referenced stablecoins (FRS) to retail investors.
The new law data-ct-non-breakable=”null” href=”https://www.gld.gov.hk/egazette/english/gazette/file.php?year=2025&vol=29&no=22&extra=0&type=1&number=17″ rel=”noopener nofollow” target=”_blank” title=”null”>introduces criminal penalties of up to a level five fine of 50,000 Hong Kong dollars (about $6,300) and a maximum sentence of six months imprisonment.
The Hong Kong Monetary Authority (HKMA), the special administrative region’s central bank, data-ct-non-breakable=”null” href=”https://www.hkma.gov.hk/eng/news-and-media/insight/2025/07/20250723/” rel=”noopener nofollow” target=”_blank” title=”null”>issued a public warning on Wednesday, urging investors to steer clear of unlicensed offerings to avoid inadvertently breaking…
