The Hong Kong SAR Legislative Council passed the Stablecoin Bill
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Planet Daily News: On the evening of May 21, the "Stablecoin Regulation Bill" submitted by the Hong Kong Special Administrative Region government by the end of 2024 was passed through three readings in the Hong Kong Legislative Council. This move means that the Hong Kong Special Administrative Region has begun to establish a licensing system for stablecoin issuers, and has also taken an important step in improving the regulatory framework for virtual asset activities in the region. By the end of this year, compliant Hong Kong stablecoins are expected to be officially launched.
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