Implementation of Hong Kong Stablecoin Issuers Regulatory Regime (HKMA)
The Hong Kong Monetary Authority (HKMA) published various documents for the implementation of the regulatory regime for stablecoin issuers, which comes into effect on August 1, 2025. These include the finalized guidelines on supervision of licensed stablecoin issuers and on anti-money laundering and counter-financing of terrorism (AML/CFT) for licensed stablecoin issuers) plus explanatory notes on various aspects of the stablecoin issuer licensing regime and application process, and on transitional provisions for pre-existing stablecoin issuers. As of July 29, 2025, no license has been issued by the HKMA. [Read more at the HKMA]
Upcoming Speaking Engagements:
The CB+DC Conference (Nassau, Bahamas, September 9-11) is a premier gathering centered on CBDCs, tokenized assets, and stablecoins. It provides a forum for central bankers, commercial bankers, technology innovators, policymakers, and academics to explore the latest advancements in digital currency, engage with experts and peers, and discuss the future of digital currency. [Register here but before you do, email me at john@kiffmeister.com for a 15% discount]
I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.
