The bill includes licensing requirements for stablecoin issuers, offering and marketing restrictions and broader consumer protections.
Hong Kong’s proposed Stablecoins Bill has entered the Legislative Council, moving the region closer to forming a comprehensive regulatory regime for stablecoins.
On Dec. 6, the Hong Kong government published the bill in the special administrative region’s Gazette, moving it closer to becoming law. On Dec. 18, the bill was forwarded to the Legislative Council of Hong Kong for its first reading.
The Legislative Council will perform three readings before submitting the bill to the chief executive. Source: Legislative Council
