Hong Kong to issue first stablecoin issuer licenses next month: finance chief

Hong Kong's Financial Secretary, Paul Chan, announced in the 2026-27 budget speech that the first licenses for fiat-referenced stablecoin issuers are expected to be approved in March. The government has already implemented the licensing regime and will facilitate compliant exploration of stablecoin applications. Furthermore, Hong Kong plans to introduce legislation this year to license digital asset dealers and custodians, expanding regulatory oversight. Regulators are also focusing on enhancing market liquidity, with the Securities and Futures Commission (SFC) setting up an accelerator to foster innovation and allowing crypto margin financing and derivatives for professional investors. Key strategic pillars also include tokenization guidance for traditional finance instruments and upgrading the EnsembleTX platform for wholesale CBDC pilots, alongside aligning tax transparency rules with the OECD's Crypto Asset Reporting Framework.

(Source：The Block)