📢 Gate Square #MBG Posting Challenge# is Live— Post for MBG Rewards!
Want a share of 1,000 MBG? Get involved now—show your insights and real participation to become an MBG promoter!
💰 20 top posts will each win 50 MBG!
How to Participate:
1️⃣ Research the MBG project
Share your in-depth views on MBG’s fundamentals, community governance, development goals, and tokenomics, etc.
2️⃣ Join and share your real experience
Take part in MBG activities (CandyDrop, Launchpool, or spot trading), and post your screenshots, earnings, or step-by-step tutorials. Content can include profits, beginner-friendl
Hong Kong Stablecoin Law Starts August 1, 40+ Inquiries
As per a report from Yicai, Hong Kong has received a stablecoin license inquiry from more than 40 firms. The Stablecoin Ordinance will be effective on August 01, 2025, following which the monetary authority of HK will begin accepting formal applications.
The Stablecoin Ordinance (CAP. 656) was passed on May 21, 2025, and regulates fiat references to stablecoin issuance. It also establishes a comprehensive framework for stablecoin issuance and other related activities.
It is worth noting that to get a license from the Hong Kong Monetary Authority (HKMA), an applicant must hold high-quality, liquid reserve assets equal to or exceeding the par value of issued stablecoins.
A non-bank issuer needs a minimum paid-up share capital of HK$25 million or 1% of the par value of issued stablecoins, whichever is higher.
The licensee must guarantee redemptions at face value under fair conditions, and robust anti-money laundering and counter terrorist financing systems are required
One of the primary points that needs to be followed is that the applicant must be incorporated in Hong Kong or registered as a non-HK company with a principal place of business in the city.
The applicants seeking license approval are bound to implement the risk management system, conduct regular audits, and disclose issuance and reserve daily.
If the unlicensed stablecoin issuers are found issuing stablecoin, it will be counted as a crime with a fine of HK$5 million and seven years in jail.
Why is global stablecoin evolving at a faster speed?
The stablecoins are the backbone of decentralized finance, facilitating lending, borrowing, and trading on blockchain platforms. The DeFi market’s growth drives demand for stablecoin as a stable medium of exchange.
Jurisdictions such as the European Union, Singapore, Japan, and Thailand are establishing regulations for stablecoins, reducing uncertainty and encouraging institutional participation.
Hong Kong’s stablecoin sandbox and Thailand Baht-pegged sandbox enable firms to test models under regulatory oversight, thereby accelerating development.
Regulatory emphasis on reserve transparency and financial stability mitigates risk from past failures such as TerraUSD. In Hong Kong and other regions, companies like JD(dot)com and Ant Group are developing a stablecoin ecosystem
According to data from CoinMarketCap, the total stablecoin market has a capitalization of $259,986,170,208, with a trading volume of $136,205,413,632
In terms of market cap, Tether tops the list, followed by USDC, DAI, EthenaUSDe, World Liberty Financial, First Digital USD, and PayPal USD
In the weekly time frame, the top trending stablecoin includes Overnight DAI+, Prisma mkUSD, Falcon USD, Moola Celo USD, and TON bridged USD.