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@ tzongocu
2025-05-21 14:31:41
📰 News Alert...
🔖 Title: Hong Kong Passes Landmark Stablecoin Bill
🗓️ Published: 2025-05-21T17:31:37+03:00
📄 Summary: Hong Kong's Legislative Council has officially passed the Stablecoin Bill, establishing a regulatory framework that positions the region as a contender in the global digital asset and Web3 landscape. With the potential for major institutions to apply for stablecoin licenses by year-end, this legislation aims to spur innovation in areas such as retail payments and cross-border trade. Legislative member Johnny Ng Kit-Chong emphasized that Hong Kong welcomes global enterprises interested in stablecoin issuance and seeks to enhance market stability through measures like providing interest to stablecoin holders. The move signals a significant step toward developing a robust Web3 infrastructure in the region.
🔗 [Full Article Here](https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/05/20250521-3)
🗞️ Source: Cointelegraph by Adrian Zmudzinski
💓 #Stablecoins #Web3 #DigitalAssets