- Topic
14k Popularity
14k Popularity
139k Popularity
2k Popularity
20k Popularity
- Pin
- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
Only 1 day left! Your favorite creator is one vote away from TOP 10. Interact on Square to earn Votes—boost them and enter the prize draw. Prizes: iPhone 16 Pro Max, Golden Bull sculpture, Futures Vouchers!
Details 👉 https://www.gate.com/activities/community-vote
1️⃣ #Show My Alpha Points# | Share your Alpha points & gains
Post your - 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
📍 Follow Gate_Square, vote and drop your reason.
🎁 4 winners split $100 Futures Voucher! - 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ - 💙 Gate Square #Gate Blue Challenge# 💙
Show your limitless creativity with Gate Blue!
📅 Event Period
August 11 – 20, 2025
🎯 How to Participate
1. Post your original creation (image / video / hand-drawn art / digital work, etc.) on Gate Square, incorporating Gate’s brand blue or the Gate logo.
2. Include the hashtag #Gate Blue Challenge# in your post title or content.
3. Add a short blessing or message for Gate in your content (e.g., “Wishing Gate Exchange continued success — may the blue shine forever!”).
4. Submissions must be original and comply with community guidelines. Plagiarism or re
Hong Kong stablecoin regulation implemented, license application officially launched on August 1.
Hong Kong stablecoin regulation new policy launched: licensing process officially started
Starting from August 1, 2025, the Hong Kong Monetary Authority will begin accepting license applications from stablecoin issuers, marking the official implementation phase of stablecoin regulation in the Hong Kong region. This important policy has been in the works for a long time, and over the past year, the Hong Kong Monetary Authority has promoted sandbox testing for stablecoin application scenarios and gradually clarified regulatory requirements and application pathways.
According to reports, dozens of institutions have indicated that they will apply for stablecoin licenses. At the same time, more local banks, technology companies, and Web3 teams are making further preparations around aspects such as clearing systems, custody mechanisms, and payment interfaces.
Hong Kong Stablecoin Regulatory Progress
The regulatory system officially takes effect.
The "Stablecoin Regulations" will officially take effect on August 1, 2025. The Monetary Authority has simultaneously released four related documents, including regulatory guidelines, anti-money laundering guidelines, licensing system explanations, etc.
Dealing Process and Requirements
The Monetary Authority will accept the first round of stablecoin issuer license applications from August 1 to September 30, 2025. Institutions interested in applying are encouraged to proactively contact the Monetary Authority for communication before August 31. The Monetary Authority reminds market participants to communicate cautiously in public and to avoid making false claims of having obtained a license or being in the process of applying.
Application Conditions and Compliance Requirements
All holders of compliant stablecoins in Hong Kong must have their identities verified, effectively implementing a real-name system. The Monetary Authority stated that this regulation is stricter than the previous "white list" system.
The attitude of the Monetary Authority towards fiat-backed coins
The Deputy Governor of the Monetary Authority stated that applications can be made for stablecoin licenses linked to a single fiat currency or a basket of fiat currencies, but the specific currency must be clearly indicated. He also emphasized that the licensing threshold is very high, and the first license is expected to be issued in early next year.
Transition Period Arrangement and Classification Handling
After the implementation of the "Stablecoin Regulations", a 6-month transition period will be established to classify existing issuing institutions. Requirements include full reserves, processing redemptions within 1 day, establishing a physical presence in Hong Kong, maintaining financial resources, KYC, transaction monitoring, etc. Violators will face penalties such as fines, suspension, or revocation of licenses.
The latest statement from the Hong Kong policymakers on stablecoins
The Hong Kong government and related agencies have been intensively releasing policy signals regarding stablecoins, gradually outlining the actual operational framework of the regulatory system.
stablecoin positioning: financial infrastructure rather than a speculative tool
Multiple officials emphasized that stablecoins should play a "stabilizing" role, serving as a tool to enhance financial efficiency rather than a means for profit-making or speculation.
Licensing System Prudence: High Threshold, Initial Issuance of Limited Licenses
The Monetary Authority stated that the licensing threshold is "very high", and it will not issue a large number of licenses in the first phase. The first license is expected to be granted at the beginning of next year.
Application scenarios focus on cross-border settlement, Web3 second.
The policy level positions stablecoins mainly for cross-border payments and clearing systems, with Web3 scenarios as a supplement.
The fiat currency anchoring mechanism is open, and the Renminbi stablecoin needs to be approached with caution.
The regulatory framework allows for anchoring to different fiat currencies, but coordination with the mainland is required for the Renminbi.
Cautionary reminder to investors and the public
Multiple officials remind the public to remain vigilant, not to blindly follow trends, and to fully understand the product risks.
Market Views on Hong Kong Stablecoin Regulation
The rhythm of dealing cards and the expectations of the first batch of licensed institutions.
The market expects that the number of initial stablecoin licenses will be "only in single digits" and is expected to be implemented as early as the end of the year.
Regulatory Path and the "Dual Track Parallel" Concept of Hong Kong Dollar/Renminbi
Analysis suggests that Hong Kong may form a "USD stablecoin connecting to the international market + HKD stablecoin linking to the mainland" dual-track pattern.
CNH stablecoin's policy expectations and financial function expectations
The market generally believes that the Hong Kong stablecoin regulations have "paved the first legal path" for the CNH stablecoin, and are expected to verify the feasibility of cross-border settlement.
Financial Market Impact and Capital Concerns
Short-term structural investment opportunities will arise, mainly concentrated in sectors such as digital currencies, cross-border payments, blockchain, and RWA.
Who is preparing to apply for a Hong Kong stablecoin license?
According to reports, 50 to 60 companies are interested in applying for a stablecoin license in Hong Kong. The companies that have publicly expressed their intentions include:
In addition, companies such as Ping An Insurance and Sanwei Xinan have also stated that they are paying attention to or laying out related businesses.
Overall, the implementation of the new regulatory policies for stablecoins in Hong Kong has attracted companies from diverse backgrounds to actively position themselves, which is expected to promote the exploration of stablecoin applications in cross-border payments, financial innovation, and other areas.