{"id":52686,"date":"2025-09-26T12:24:52","date_gmt":"2025-09-26T12:24:52","guid":{"rendered":"https:\/\/thecryptocurrencypost.net\/es\/?p=52686"},"modified":"2026-05-30T09:22:57","modified_gmt":"2026-05-30T07:22:57","slug":"dbs-hong-kong-advierte-que-la-normativa-de-stablecoins-vigente-desde-el-1-de-agosto-de-2025-restringe-el-uso-en-derivados-onchain","status":"publish","type":"post","link":"https:\/\/thecryptocurrencypost.net\/es\/dbs-hong-kong-advierte-que-la-normativa-de-stablecoins-vigente-desde-el-1-de-agosto-de-2025-restringe-el-uso-en-derivados-onchain\/","title":{"rendered":"La DBS de Hong Kong advierte que la normativa de stablecoins vigente desde agosto restringe el uso en derivados on\u2011chain"},"content":{"rendered":"<p><strong>La<a href=\"https:\/\/www.thestandard.com.hk\/wealth-and-investment\/article\/312628\/Hong-Kongs-rules-limit-stablecoin-derivatives-trading-says-DBSs-Paredes\" target=\"_blank\" rel=\"noopener noreferrer\"> DBS de Hong Kong<\/a> advirti\u00f3 que las nuevas reglas sobre <a href=\"https:\/\/thecryptocurrencypost.net\/es\/tag\/stablecoins\/\">stablecoins<\/a>, vigentes desde el 1 de agosto de 2025, restringir\u00e1n significativamente su uso en el trading de derivados on\u2011chain<\/strong>. <strong>La medida importa porque eleva los costes de cumplimiento y afecta tanto a plataformas descentralizadas como a emisores peque\u00f1os que operan en la ciudad<\/strong>. L<strong>a normativa introduce barreras que pueden reconfigurar la actividad cripto local y la competitividad frente a otros centros financieros<\/strong>.<\/p>\n<p><!--more--><\/p>\n<p><strong>La <a href=\"https:\/\/thecryptocurrencypost.net\/es\/regulacion-de-stablecoins-en-china-hong-kong-lanza-licencias-mientras-el-continente-refuerza-guardrails-para-el-ecny\/\" target=\"_blank\" rel=\"noopener\">Stablecoins Ordinance<\/a>, aprobada por el Legislative Council en mayo de 2025 y aplicada desde el 1 de agosto de 2025, establece un r\u00e9gimen de licencias para emisores de stablecoins fiduciarias con la HKMA como regulador principal<\/strong>. Seg\u00fan la normativa, los emisores deben cumplir requisitos prudenciales y de supervisi\u00f3n m\u00e1s estrictos en la plaza financiera de Hong Kong.<\/p>\n<p><strong>Los emisores deben contar con al menos HKD 25 millones de capital social desembolsado, mantener un respaldo del 100% en activos l\u00edquidos de alta calidad y someterse a obligaciones estrictas de KYC\/AML que exigen identificar a todos los titulares<\/strong>.<\/p>\n<p><strong>La HKMA comunic\u00f3 que inicialmente conceder\u00e1 un n\u00famero limitado de licencias \u2014un d\u00edgito\u2014 y que podr\u00e1 exigir licencias a emisores extranjeros de stablecoins vinculadas al d\u00f3lar de Hong Kong<\/strong>.<\/p>\n<p><strong>Estos requisitos aproximan a los emisores de stablecoins a est\u00e1ndares bancarios tradicionales<\/strong>.<\/p>\n<h2>\u00bfCu\u00e1les son las consecuencias de las nuevas normativas?<\/h2>\n<p><strong>Las consecuencias emergentes, seg\u00fan la DBS, incluyen un descenso en la actividad relacionada con stablecoins en Hong Kong y un aumento de los costes de cumplimiento, con p\u00e9rdidas de doble d\u00edgito reportadas por algunas empresas<\/strong>.<\/p>\n<p><strong>Las medidas de identificaci\u00f3n obligatoria y la criminalizaci\u00f3n de la promoci\u00f3n de stablecoins no autorizadas dificultan el funcionamiento de mercados descentralizados que dependen de la privacidad y la interoperabilidad on\u2011chain<\/strong>.<\/p>\n<p><strong>Al mismo tiempo, el marco busca mitigar riesgos sist\u00e9micos y lavado de dinero reforzando reservas y l\u00edmites de liquidez<\/strong>, estrategia que puede resultar m\u00e1s atractiva para capital institucional pero menos propicia para proyectos de DeFi y emisores peque\u00f1os.<\/p>\n<p><strong>El pr\u00f3ximo hito verificado es la emisi\u00f3n de las primeras licencias por la HKMA, prevista para principios de 2026<\/strong>; su asignaci\u00f3n y alcance marcar\u00e1n si Hong Kong consigue atraer capital institucional sin expulsar a innovadores del ecosistema, seg\u00fan las fuentes citadas por Jina.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>La DBS de Hong Kong advirti\u00f3 que las nuevas reglas sobre stablecoins, vigentes desde el 1 de agosto de 2025, restringir\u00e1n significativamente su uso en el trading de derivados on\u2011chain. La medida importa porque eleva los costes de cumplimiento y afecta tanto a plataformas descentralizadas como a emisores peque\u00f1os que operan en la ciudad. La [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":52685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,257],"tags":[570,503,188,285,728],"class_list":["post-52686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editors-picks","category-regulacion","tag-dbs","tag-hong-kong","tag-mercado","tag-regulacion-2","tag-stablecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>La DBS de Hong Kong advierte que la normativa de stablecoins vigente desde agosto restringe el uso en derivados on\u2011chain The CryptoCurrency Post ESP<\/title>\n<meta name=\"description\" content=\"La DBS de Hong Kong advirti\u00f3 que las nuevas reglas sobre stablecoins restringir\u00e1n significativamente su uso en el trading de derivados on\u2011chain.\" \/>\n<meta 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