<ul><li>Hong Kong's Legislative Council approved the Stablecoins Bill to regulate fiat-referenced stablecoin (FRS) issuers.</li><li>The new Stablecoins Ordinance mandates licensing for FRS issuers, focusing on reserve asset management and protection of investors.</li><li>Only licensed institutions can offer FRS in Hong Kong, and regulations aim to prevent fraud through restricted advertising.</li><li>The Ordinance aims to establish a strong regulatory foundation for Hong Kong's digital asset market while fostering responsible industry growth.</li></ul>

Historic Day For Hong Kong: Stablecoin Bill Receives Legislative Approval

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