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Caixin: Industry Insiders Say Stablecoins Need Hong Kong Customs MSO License for Cross-Border Payments
Summary: According to reports, the rapid global development of stablecoins in the first half of the year has led many experts to believe that stablecoins bring more possibilities for the internationalization of the Renminbi. With the Hong Kong 'Stablecoin Regulations' set to take effect on August 1, 2025, discussions on using Renminbi stablecoins to counter the ...
According to reports, the rapid global development of stablecoins in the first half of the year has led many experts to believe that stablecoins bring more possibilities for the internationalization of the Renminbi. With the Hong Kong 'Stablecoin Regulations' set to take effect on August 1, 2025, discussions on using Renminbi stablecoins to counter the dominance of the US dollar are ongoing. A Hong Kong cross-border trade blockchain professional stated that according to Hong Kong regulations, if stablecoins are used as a value transfer tool for cross-border payments, activities such as stablecoin exchange for fiat currency or remittance fall under the 'Anti-Money Laundering Regulations' as Money Services, requiring an MSO (Money Service Operator) license issued by Hong Kong Customs. (Caixin)
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Link: Caixin: Industry Insiders Say Stablecoins Need Hong Kong Customs MSO License for Cross-Border Payments [Copy]
