15-6-2025 – Hong Kong is set to implement its groundbreaking Stablecoin Ordinance on August 1, 2025, as declared by Financial Secretary Paul Chan Mo-po. This visionary legislation heralds a new era for digital asset oversight, positioning the city at the forefront of innovative financial governance in Asia.
What the stablecoin ordinance means for issuers and investors
The ordinance, meticulously crafted and ratified by Hong Kong’s Legislative Council, introduces a robust regulatory framework for fiat-referenced stablecoins. It empowers licensed issuers to anchor stablecoins to a diverse array of fiat currencies, fostering flexibility and amplifying their utility in cross-border transactions. This strategic move is poised to bolster Hong Kong’s competitiveness in the global financial arena, offering a blueprint for international regulators navigating the complexities of digital currencies.
A new era for financial innovation in Asia
Paul Chan underscored the ordinance’s potential to redefine the stablecoin landscape, sparking innovation within the city’s vibrant financial ecosystem. He also hinted at an forthcoming “second policy statement” that will further weave digital asset advancements into Hong Kong’s financial services fabric, signalling sustained commitment to regulatory evolution.
Industry leaders have greeted the development with enthusiasm. Daniel Tse, Managing Director at Futu Securities International, hailed stablecoins as a catalyst for growth in the brokerage sector. “Our clients are increasingly drawn to stablecoin-linked investments,” Tse noted, “and this framework opens exciting prospects for trading tokenised assets.”
Stablecoins and Bitcoin: Parallel momentum in the crypto market
Meanwhile, the cryptocurrency market continues its upward trajectory, with Bitcoin commanding attention. As of June 15, 2025, CoinMarketCap reports Bitcoin’s price at $105,296.38, reflecting a market capitalisation of $2.09 trillion and a circulating supply of 19,878,000 BTC. The digital currency has surged by 25.47% over the past 60 days and 26.05% in the last 90 days, underscoring its robust momentum.
