The HKMA finalized stablecoin regulations set to take effect Aug. 1, warning no licenses have been issued and urging caution against hype and scams.

The Hong Kong Monetary Authority (HKMA), the special administrative region’s central banking authority, has finalized its regulatory framework for stablecoin issuers, releasing two sets of guidelines that will take effect on Aug. 1. 

On Tuesday, the HKMA released finalized guidelines and consultation conclusions to clarify the upcoming rules. 

The documents addressed the supervision of licensed stablecoin issuers and Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) rules for licensed stablecoin issuers. 

Alongside the finalized rules, Hong Kong will launch a public registry of licensed issuers as part of a broader push to bring oversight to the local crypto ecosystem.

“In the future, the public may refer to the register of licensed stablecoin issuers as shown on the HKMA’s website,” the regulator said.