<ul><li>Hong Kong's Legislative Council passed the Stablecoin Bill, introducing a licensing system for issuing stablecoins by licensed firms.</li><li>The new law mandates that stablecoin issuers must meet requirements such as reserves, audits, and anti-fraud protections.</li><li>Licensed institutions can release fiat-backed stablecoins in Hong Kong after seeking a license through the HKMA.</li><li>The Stablecoin Law aims to build trust, safeguard investors, and support responsible growth in the digital finance sector.</li></ul>

Hong Kong Approves Stablecoin Bill, Paving Way for Web3 Growth

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