🚀 Hong Kong's Stablecoins Bill is making waves! The proposed legislation, now in the Legislative Council, aims to create a robust regulatory framework for stablecoins. This bill, which needs three readings before becoming law, could transform the region's crypto landscape.

Key features? Licensing for stablecoin issuers, marketing restrictions, and enhanced consumer protection. Only regulated entities can offer stablecoins, ensuring a safer market.

If passed, Hong Kong might see a stablecoin shift akin to Europe's MiCA impact, where compliant coins now dominate. Stay tuned for a stablecoin shake-up!