Hong Kong's Legislative Council has passed a stablecoins bill aimed at enhancing the digital asset landscape and improving cross-border payments.
Key Aspects of the Stablecoins Bill
The Stablecoins Bill was enacted in May 2025 to create comprehensive regulatory standards for digital assets. This move is intended to improve financial operations and support the internationalization of the RMB.
Impact on International Financial Operations
The new law is expected to significantly influence international financial operations. Companies like HSBC and JD.com have publicly supported the bill, which could enhance payment systems and the RMB's integration into the global financial ecosystem.
Outlook and Expectations
Analyst Yang Zeyuan from CITIC Securities stated: "The new law goes beyond stablecoins and will anchor the multi-trillion-dollar tokenization of real-world assets in the city. Stablecoins would eliminate volatility from the tokenization sector, increasing market liquidity in the nascent industry." The law is projected to foster growth in digital trading platforms and market stability.
The passage of the stablecoins bill in Hong Kong opens up new opportunities for digital assets and elevates the city to a new level in the global financial landscape.
