The Hong Kong Legislative Council passed the 'Stablecoin Regulation Bill'. Standard Chartered's Head of Digital Assets in Hong Kong, Ma Fei, expressed welcome, stating that it will help reinforce Hong Kong's position as an international financial center.

Standard Chartered had previously announced the establishment of a joint venture with the Anping Group and Hong Kong Telecommunications, planning to apply for a license to issue a Hong Kong dollar stablecoin, and is currently accelerating preparations and will announce details in due course.