Hong Kong Legislative Council releases first special bulletin in 2025: Detailed review of the Stablecoin Bill

Odaily News The Legislative Council of Hong Kong released its first special newsletter in 2025, "Consolidating Hong Kong's Position as an International Financial Center". The special newsletter is a new service launched by the Parliamentary Affairs Department of the Legislative Council Secretariat of Hong Kong in December 2024. The latest special newsletter stated: The Legislative Council Bills Committee is reviewing in detail the "Companies (Amendment) (No. 2) Bill 2024" and the "Stablecoin Bill" to introduce a mechanism to facilitate the relocation of overseas registered companies to Hong Kong, as well as the introduction of a licensing system for issuers of fiat stablecoins. Regarding the development of financial technology, the Legislative Council's House Committee has established a subcommittee to review the application and development of Web3 and virtual asset technologies in Hong Kong and make recommendations on the implementation of relevant regulations and policies.