Hong Kong Approves Stablecoin Bill, Licensing to Start by Year-End

The Legislative Council of Hong Kong has approved the Stablecoin Bill in its third reading, paving the way for major institutions to apply to the Hong Kong Monetary Authority for licenses to issue stablecoins by year-end. On May 21, Legislative Council member Johnny Ng Kit-Chong noted in an X post that the bill’s approval represents a key milestone in advancing Web3 globally and positions the country to emerge as a leading international hub for Web3 innovation. Ng emphasized that Hong Kong’s stablecoins are fully backed by fiat currency reserves and encouraged global businesses and institutions interested in issuing stablecoins to The post Hong Kong Approves Stablecoin Bill, Licensing to Start by Year-End first appeared on The Shib Daily. source: https://news.shib.io/2025/05/22/hong-kong-approves-stablecoin-bill-licensing-to-start-by-year-end/?utm_source=rss&utm_medium=rss&utm_campaign=hong-kong-approves-stablecoin-bill-licensing-to-start-by-year-end