According to ChainCatcher sources, sources revealed that Hong Kong's "Stablecoin Regulations" will take effect on August 1, 2025, and stablecoin license applications will be launched simultaneously. The license for stablecoin issuers will not be processed through self-downloaded forms or unified written submissions, but will instead be arranged through a similar invitation-based application system.
"In practical terms, the Hong Kong Monetary Authority (HKMA), which is responsible for regulatory licensing, will pre-communicate with potential stablecoin license applicants to understand whether they meet basic application qualifications. Only after obtaining basic approval during this pre-communication will the HKMA issue an application form."
