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.
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Hong Kong passes stablecoin bill, set to open licensing by year-end
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Hong Kong’s Stablecoins Bill establishing a licensing regime for fiat-referenced stablecoin is set to take effect later in 2025 to provide the industry sufficient time to prepare for the new regulatory requirements
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Hong Kong is establishing itself as a crypto-friendly jurisdiction through a series of regulatory and policy initiatives aimed at promoting the creation of web3 infrastructure
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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
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