The second reading of Hong Kong's Stablecoin Bill is set for May 21, 2025. This legislation aims to create a regulatory framework for stablecoin issuers under the Hong Kong Monetary Authority (HKMA).
This step is crucial, highlighting Hong Kong's ambition to lead in cryptocurrency regulation, impacting global markets and attracting international firms.
While optimism is high, concerns about implementation remain. Observers speculate that this move could significantly reshape the financial landscape, establishing Hong Kong as a trendsetter in stablecoin regulation.
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