The Hong Kong Legislative Council releases its first special briefing for 2025, reviewing the stablecoin bill.

The Hong Kong Legislative Council will release its first special briefing in 2025, titled "Consolidating Hong Kong's Position as an International Financial Center." This special briefing is a new service launched by the Legislative Council Secretariat's Council Affairs Division in December 2024. The latest briefing indicates that the Legislative Council's Bills Committee is conducting a detailed review of the "Companies (Amendment) (No. 2) Bill 2024" and the "Stablecoin Bill" to introduce mechanisms to facilitate the migration of overseas registered companies to Hong Kong and to introduce a licensing system for statutory stablecoin issuers. Regarding the development of financial technology, the Legislative Council's Home Affairs Committee has established a subcommittee to examine the application and development of Web3 and virtual asset technologies in Hong Kong and to make recommendations on the implementation of relevant regulations and policies.