On May 21, 2025, the Hong Kong Monetary Authority's official website updated the "Stablecoin Issuers" special page, confirming that the "Stablecoin Bill" has entered the third reading stage of the Legislative Council. The first batch of sandbox participants (such as Standard Chartered Bank, JD Technology, Yuanbi Technology, etc.) have completed technical testing and will launch a compliant stablecoin pegged to the Hong Kong dollar 1:1 as early as the third quarter of 2025.
This move marks Hong Kong as the world's first financial center to include stablecoins in the statutory regulatory framework, setting the "Asian standard" for the Web3.0 era.