Hong Kong plans to submit a stablecoin bill as soon as possible in feasible circumstances

The highest financial official in Hong Kong stated that the government will "as soon as practicable" submit a stablecoin bill to the Legislative Council. A Hong Kong financial official said that once negotiations make progress, the government will focus on submitting a stablecoin licensing bill. The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui Ching-yu, stated that depending on consultation results and progress in preparation work, the government will promptly submit the bill to the Legislative Council.