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Hong Kong Passes Stablecoin Bill, Tightens Grip on Digital Dollar Issuers
Hong Kong Passes Stablecoin Bill, Tightens Grip on Digital Dollar Issuers
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Hong Kong’s Legislative Council has enacted the Stablecoins Bill, imposing stringent licensing requirements on issuers of fiat-referenced stablecoins (FRS). The MOVE aims to safeguard retail investors and bolster the city’s digital asset regulatory framework.
The legislation targets both domestic and foreign stablecoins pegged to the Hong Kong dollar, reflecting growing global reliance on these assets as bridges between traditional finance and decentralized ecosystems. Only licensed entities will now be permitted to operate in this space.
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