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Hong Kong adopts law on stablecoins and launches high-threshold licensing regime
Hong Kong is implementing a new strict licensing regime for stablecoin issuers, a move aimed at cementing the city's status as a regulated center for digital assets. However, the new Stablecoin Order has a key requirement: stablecoins must be pegged to the city's lawful fiat currency.
Regulation aligns with global efforts to establish formal oversight of stablecoins.