The Hong Kong Stablecoins Ordinance will come into effect on August 1st According to the Hong Kong government announcement, the Stablecoins Ordinance (Chapter 656) will officially come into effect on August 1, 2025, establishing a licensing and regulatory system for stablecoin activities. At the same time, the Financial Secretary has indicated that professional investors can access designated stablecoins issued without a license. The Secretary for Financial Services and the Treasury, Xu Zhengyu, stated that the regulation sets a key milestone for the development of the local stablecoin and digital asset ecosystem. The relevant regulatory rules have been consulted by the Hong Kong Monetary Authority and cover requirements such as anti money laundering.