Hong Kong Passes Stablecoin Bill Backed by Legal Tender, Licensing Issuers via HKMA by End of 2025
The post Hong Kong Passes Stablecoin Bill Backed by Legal Tender, Licensing Issuers via HKMA by End of 2025 appeared on BitcoinEthereumNews.com. The Hong Kong Legislative Council has passed the Stablecoin Bill in its third reading, establishing a licensing regime for fiat-backed stablecoin issuers The Hong Kong Legislative Council has passed the Stablecoin Bill in its third reading, establishing a licensing regime for fiat-backed stablecoin issuers. The new law allows institutions to apply to the Hong Kong Monetary Authority to become compliant stablecoin issuers by the end of 2025. The bill mandates that stablecoins must be backed by legal tender, aiming to foster innovation in the digital currency space while enhancing investor protections. This regulatory move positions Hong Kong to compete globally in the stablecoin market by providing a clear framework for stablecoin issuance and oversight. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz. Source: https://thedefiant.io/news/regulation/hong-kong-passes-stablecoin-bill-backed-legal-tender-licensing-issuers-via-hkma-b423bc30
The post Hong Kong Passes Stablecoin Bill Backed by Legal Tender, Licensing Issuers via HKMA by End of 2025 appeared on BitcoinEthereumNews.com.
The Hong Kong Legislative Council has passed the Stablecoin Bill in its third reading, establishing a licensing regime for fiat-backed stablecoin issuers The Hong Kong Legislative Council has passed the Stablecoin Bill in its third reading, establishing a licensing regime for fiat-backed stablecoin issuers. The new law allows institutions to apply to the Hong Kong Monetary Authority to become compliant stablecoin issuers by the end of 2025. The bill mandates that stablecoins must be backed by legal tender, aiming to foster innovation in the digital currency space while enhancing investor protections. This regulatory move positions Hong Kong to compete globally in the stablecoin market by providing a clear framework for stablecoin issuance and oversight. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz. Source: https://thedefiant.io/news/regulation/hong-kong-passes-stablecoin-bill-backed-legal-tender-licensing-issuers-via-hkma-b423bc30
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