Hong Kong plans to submit stablecoin bill as soon as practicable

Hong Kong's highest financial official stated that the government will "submit a stablecoin bill to the Legislative Council as soon as practicable." A Hong Kong financial official stated that once negotiations make progress, the government will focus on submitting a stablecoin licensing bill. Hong Kong's Financial Affairs and Treasury Bureau Director, Christopher Hui, stated that depending on the consultation results and progress of preparatory work, the government will submit the bill to the Legislative Council as soon as possible.