Hong Kongโs New Stablecoin Rules ๐
๐ธ Hong Kong just passed a major stablecoin regulation bill, setting strict standards for issuers
๐ธ New rules demand reserve, redemption & risk management protocols to ensure stability
๐ธ The HK Monetary Authority will oversee licensing, offering clear legal certainty
๐ธ While it attracts institutions, high compliance costs could limit smaller issuers
๐ธ Experts say this cements Hong Kongโs ambition to be a global crypto hub