HONG KONG MONETARY AUTHORITY

Crypto / Digital Assets

Hong Kong’s New Stablecoin Law to Commence Operation on 1 August

By Sanday Chongo Kabange | 10/06/2025

The stablecoin ordinance passed in May will take effect on 1 August, subject to negative vetting of the legislative notice.

AML / KYC

Hong Kong Passes Bill to Facilitate Financial Crime Info-Sharing

By Sanday Chongo Kabange | 06/06/2025

The new law will enable banks to share personal account information for the purposes of detecting and preventing financial crime.

Fintech / Regtech

HKMA Partners with University on Cybersecurity Innovation

By Sanday Chongo Kabange | 30/05/2025

HKMA and the HKUST Business School will jointly explore innovative suptech and regtech solutions, leveraging “cutting-edge” technologies such as the latest LLMs.

Market Infrastructure

HKMA Directs Banks to Adopt Updated FX Global Code

By Editors | 30/05/2025

Banks are directed to review their practices in light of the updated FX Global Code and renew their commitment to the code by January 2026.

Hong Kong Unveils Measures to Enhance Financial Services for Elderly

By Sanday Chongo Kabange | 29/05/2025

The measures include strengthening financial planning education, anti-scam education initiatives, and making banking services more elderly-friendly.

Market Infrastructure

Hong Kong Aims to Become Global Hub for “Patient Capital”

By Sanday Chongo Kabange | 29/05/2025

Hong Kong will attract patient capital by enhancing its regulatory framework, offering targeted incentives and strengthening its position as a risk management centre.

Enforcement

Hong Kong Auditor Suspended, Fined for Breaching Independence Rules

By Sanday Chongo Kabange | 27/05/2025

The auditor, who previously held senior positions at the SFC and HKMA, is suspended for 18 months and required to pay HKD 500,000 in penalties.

Crypto / Digital Assets

HSBC Launches Novel Tokenised Deposit Service

By Sanday Chongo Kabange | 27/05/2025

HSBC’s blockchain-based liquidity solution for Hong Kong institutional clients marks the first live pilot initiative supported by HKMA’s supervisory incubator for DLT.

AML / KYC

HKMA Issues Two Consultations on Rules for Stablecoin Issuers

By Sanday Chongo Kabange | 27/05/2025

The first consultation proposes regulatory standards for stablecoin issuers seeking authorisation. The second proposes AML/CFT requirements.