The Hong Kong Legislative Council reviews the regulatory bill for stablecoins and the development of Web3 technology.

The Legislative Council of the Hong Kong Special Administrative Region is currently conducting a detailed review of the "2024 Companies (Amendment) (No. 2) Bill" and the "Stablecoin Bill" to facilitate the re-registration of overseas companies in Hong Kong and to establish a licensing system for issuers of fiat-backed stablecoins. Additionally, the Legislative Council's Internal Affairs Committee has formed a subcommittee to study the application and development of Web3 and virtual asset technologies in Hong Kong and to propose implementation recommendations for relevant regulations and policies.