The Hong Kong Legislative Council has passed the <em>Stablecoin Regulation Bill</em> in the third reading, allowing compliant issuance starting at the end of the year.

BlockBeats News, May 21st - Hong Kong Legislative Councilor Wu Chi-wai tweeted that the Hong Kong Legislative Council has passed the third reading of the "Stablecoin Bill", and it is expected that by the end of this year, institutions can apply to the Hong Kong Monetary Authority to become compliant stablecoin issuers. Wu Chi-wai welcomed global companies to apply to Hong Kong and emphasized that the development of use cases and the release of stablecoin dividends will be the focus going forward.