Hong Kong Legislative Council: Currently reviewing the "Stablecoin Bill" in detail, examining the development of Web3 technology applications in Hong Kong.

According to BlockBeats, on January 25, the Legislative Council of the Hong Kong Special Administrative Region released its first thematic newsletter for 2025 titled "Consolidating Hong Kong's Position as an International Financial Center." The document states that the Legislative Council's Bills Committee is carefully reviewing the "Companies (Amendment) (No. 2) Bill 2024" and the "Stablecoin Bill" to introduce mechanisms that facilitate the relocation of overseas registered companies to Hong Kong, as well as to establish a licensing system for fiat-backed 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 propose recommendations for implementing relevant regulations and policies.