PANews reported on May 21 that Hong Kong Legislative Council member Wu Jiezhuang tweeted that the Hong Kong Legislative Council has passed the Stablecoin Bill in the third reading, and it is expected that before the end of this year, institutions can apply to the HKMA to become compliant stablecoin issuers. Wu Jiezhuang said that global companies are welcome to apply to Hong Kong, and emphasized that the development of application scenarios and the release of stablecoin interest are the subsequent priorities to help Hong Kong build an international Web3 center.
The Hong Kong Legislative Council passed the Stablecoin Bill in the third reading, and applications for compliant issuance will be accepted from the end of the year
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