uaecryptolaw

HK flips the switch on 1 Aug 2025: full stablecoin licensing. Any HK-facing fiat-pegged token must be HKMA-licensed and 100% backed by liquid reserves.

Rules: local entity or resident RO; 1:1 cash/T-bills + audits; daily reserve snapshots + real-time alerts; segregated client funds + attestations. Penalties up to HK$50m, lifetime bans.

LEAP: legal streamlining; RWAs/e-bonds; e-HKD pilots + on-chain insurance; talent visas + SG/Dubai links.

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