Hong Kong’s stablecoin licensing has rolled out, adding another piece to the compliance narrative. In the second half of this year, we’ll see whether actual circulation can really deliver.

CoinWorld News, the Hong Kong government stated in a written reply to the Legislative Council that the Hong Kong Monetary Authority will grant stablecoin issuer licenses to two institutions with banking backgrounds in April 2026, and regulated stablecoins are expected to be launched between mid-year and the second half of this year. The HKMA has explained the legal requirements to unregulated entities and followed up, referring cases to the police or the Department of Justice when necessary. In addition, the Hong Kong government will submit a bill to the Legislative Council this year to establish a regulatory framework for virtual asset trading, custody, advisory, and management service providers.