Techub News reported that according to a Hong Kong government news release, Hong Kong Financial Services and the Treasury Secretary Paul Chan Mohammed proposed a second reading of the Stablecoin Bill at the Legislative Council meeting today and hoped that it would be passed as soon as possible. The key points of the regulatory system include (i) licensees must maintain a robust reserve stability mechanism; (ii) stablecoin holders should have the right to redeem stablecoins at par from the issuer; (iii) a series of requirements for combating money laundering, risk management, disclosure requirements, auditing and appropriate personnel should be stipulated.