<ul data-eligibleForWebStory="false"><li>Hong Kong's new stablecoin law, the Hong Kong Stablecoin Ordinance, will come into effect on August 1, 2025, aimed at regulating the crypto and finance market.</li><li>JD.com, Yuanbi, and other major companies are preparing to apply for stablecoin permits, with only a limited number of licenses expected to be issued initially.</li><li>The competition for stablecoin licenses in Hong Kong is intense, with over 40 companies vying for permits, but it is anticipated that only established big players will secure them.</li><li>Stablecoins are gaining popularity as intermediaries between traditional money and digital assets, with Hong Kong's new law expected to further boost the market, while some professionals express caution about the impact on cross-border payments.</li></ul>

Hong Kong New Stablecoin Law Takes Effect August 1

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