Hong Kong Passes Stablecoin Law, Sets Stage for Licensing Surge

Catenaa, Thursday, May 22, 2025-Hong Kong’s Legislative Council passed a landmark stablecoin bill Wednesday, creating Asia’s first unified licensing framework for fiat-backed digital tokens and signaling the city’s push to lead regional Web3 development. The bill, approved in its third reading, mandates that stablecoins be fully backed by fiat currency and enables institutions to apply […] source: https://investors.catenaa.com/news/hong-kong-passes-stablecoin-law-sets-stage-for-licensing-surge