Current Affairs - International - Discussion

Hong Kong will implement the Stablecoins Ordinance starting August 1, 2025, in an effort to regulate the use and issuance of stablecoins within its jurisdiction. Stablecoins are a category of cryptocurrencies designed to maintain a stable value by being pegged to stable assets, such as foreign currencies. Unlike Central Bank Digital Currencies (CBDCs), which are issued and controlled by governments, stablecoins can be privately issued. With this ordinance, Hong Kong seeks to establish a legal framework to oversee the operations of stablecoins, ensuring financial stability, investor protection, and alignment with international standards in the evolving digital asset space.