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Hong Kong passes stablecoin law, clearing way for sales to public

Hong Kong lawmakers passed a law on Wednesday that establishes a regulatory regime for stablecoins, paving the way for issuers to obtain licences and sell the digital assets to the public. A stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset, such as the US dollar or any fiat currency. The Stablecoins Bill passed by the Legislative Council, which will take effect later this year, requires stablecoin issuers in the city to obtain a licence from the Hong Kong...


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