Hong Kong Legislative Council: Currently conducting a detailed review of the "Stablecoin Bill" and examining the development of Web3 technology applications in Hong Kong

2025-01-25 22:49:59

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ChainCatcher News, the Legislative Council of the Hong Kong Special Administrative Region has released the first thematic newsletter of 2025 titled "Consolidating Hong Kong's Status as an International Financial Center."

The article states: The Legislative Council's Bills Committee is conducting a detailed review of the "Companies (Amendment) (No. 2) Bill 2024" and the "Stablecoin Bill" to introduce mechanisms that facilitate the migration of overseas registered companies to Hong Kong, as well as to introduce a licensing system for fiat-backed stablecoin issuers. Regarding the development of financial technology, the Legislative Council's Home Affairs Committee has established a subcommittee to examine the application and development of Web3 and virtual asset technologies in Hong Kong and to propose recommendations for implementing relevant regulations and policies.

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