Hong Kong Enacts Stablecoin Law for Licensed Issuers

Hong Kong has formally passed its Stablecoin Bill, establishing a regulatory framework for fiat-backed stablecoins and positioning the city as a global Web3 hub. On May 21, 2025, Hong Kong's Legislative Council approved the Stablecoin Bill, introducing a licensing regime for fiat-referenced stablecoin issuers. Under this new law, any entity iss...