Hong Kong's licensing regime for fiat-referenced stablecoin issuers: who needs a licence, what reserves must back the coin, and the offences around advertising and misrepresentation.
Hong Kong moved stablecoins out of the regulatory grey zone with a dedicated statutory regime administered by the Hong Kong Monetary Authority. The design goal was straightforward: if an instrument claims to hold its value against a fiat currency, the issuer should be licensed, the reserves should genuinely exist, and holders should be able to redeem at par.
This course sets out the perimeter — what counts as a specified stablecoin, which activities are regulated, and the extraterritorial reach over coins referencing the Hong Kong dollar. It then covers the licensing requirements themselves: financial resources, reserve asset management and segregation, redemption obligations, governance, and risk management.
The final section deals with conduct. The Ordinance carries specific offences around advertising unlicensed stablecoin activity, fraud, and misrepresentation, alongside the HKMA's supervisory and enforcement powers.
Part 1
Specified stablecoins, regulated activities, the licensing perimeter, and extraterritorial reach.
Part 2
Financial resources, fit and proper criteria, governance, and risk management expectations.
Part 3
Reserve asset quality and segregation, valuation and attestation, and the redemption-at-par obligation.
Part 4
Advertising restrictions, fraud and misrepresentation offences, and the HKMA's supervisory powers.
Once you have watched the seminar, a short multiple-choice assessment unlocks. Score 60% or higher and a Certificate of Attendance for 1 CPT hour is issued immediately, carrying a unique reference number.
The certificate resolves to a public verification page, so an employer or regulator can confirm it without contacting us. It also counts towards the CPT hours ledger on your dashboard.
See how verification worksRelated
Digital assets
FATF Recommendation 15, the Travel Rule, and Hong Kong's VASP regime — applied to the practical problem of doing customer due diligence on a blockchain.
Course fee
HKD 500
