🇭🇰【Hong Kong Passes Stablecoin Bill, License Applications Open by Year-End】

HK legislator @FTW_jw announced that the Stablecoin Bill has passed its third reading — enabling institutions to apply for licenses as compliant fiat stablecoin issuers by end of 2025.

📌 Key requirements for HK stablecoin issuers:

Must be fiat-backed (e.g., HKD)

Full reserve segregation and redemption guarantees

KYC/AML, risk controls, audit compliance

💡 Take:

This marks Hong Kong’s first official licensing regime for fiat-backed stablecoins, signaling its ambition to become Asia’s regulatory hub for compliant digital finance.

With global firms like USDC & USDT eyeing Asia, HK’s rulebook could become a reference model for other jurisdictions.

#Stablecoin #Cryptolaw