TMTPOST -- The Hong Kong Monetary Authority (HKMA) announced that its new regulatory framework for stablecoin issuers will come into effect on August 1. Entities intending to apply for a license must submit their applications by September. The licensing regime is part of Hong Kong’s broader push to establish itself as a regulated digital asset hub in Asia, offering legal clarity for crypto-related activities while prioritizing investor protection and financial stability. Under the new rules, companies issuing fiat-referenced stablecoins in Hong Kong will be required to meet strict capital, governance, and reserve management standards. The framework is expected to apply primarily to stablecoins used in payments, rather than purely speculative instruments.