Hong Kong's Legislative Council has passed the Stablecoins Bill establishing a licensing regime under the Hong Kong Monetary Authority for fiat-referenced stablecoin issuers to support the city’s ambition to become a global Web3 hub

Event date

May 21, 2025

Quotes that support claims

Hong Kong's Legislative Council has passed the Stablecoin Bill, paving the way for licensed fiat-backed stablecoin issuers by year-end and positioning the region as a potential global Web3 hub.

Hong Kong’s Legislative Council has approved the Stablecoins Bill, enabling institutions to apply for issuance licenses through the Hong Kong Monetary Authority (HKMA) by year-end.

In a major step towards becoming the global Web3 hub, the Hong Kong Legislative Council passed the “Stablecoins Bill” in its third reading

Hong Kong's Legislative Council passed the long-anticipated stablecoin bill today, establishing a licensing regime for stablecoin issuers. In a council meeting Wednesday, lawmakers passed the "Stablecoins Bill" in its third reading, which mandates licensing from the Hong Kong Monetary Authority for issuers of fiat-referenced stablecoins.

Tags

Week 21 of 2025