On 21 May 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill (Bill) to establish a new regulatory regime for activities involving fiat-referenced stablecoins, which is set to take effect by year-end. First gazetted on 6 December 2024, the Bill has since undergone a series of technical and textual amendments, which we discuss
SFC unveils new roadmap for further development of Hong Kong’s virtual assets regulatory framework
The Securities and Futures Commission’s (SFC) has on 19 February 2025 rolled out a new regulatory roadmap setting out its core guiding principles to continue Hong Kong’s development as a virtual assets (VA) hub. The roadmap adopts the “ASPIRe” slogan representing its 5 pillars – Access, Safeguards, Products
Hong Kong Debuts Stablecoins Bill
As 2024 draws to a close, Hong Kong has delivered on its promise by unveiling its draft Stablecoins Bill, a comprehensive framework for regulating fiat-referenced stablecoin issuers in Hong Kong. The bill generally aligns with the consultation conclusions of the stablecoin regime (finalized July 2024) and solidifies the Hong Kong Monetary Authority’s (HKMA
Hong Kong announces Stablecoin Consultation Conclusions and Sandbox Participants amid Web3 push
Last week, two major stablecoin announcements were made to support Hong Kong’s efforts in facilitating the responsible development of its virtual asset ecosystem.[1] On 17 July 2024, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly published consultation conclusions on the proposed regulatory
Australia proposes regulatory framework for crypto exchanges and other digital asset platforms
On 16 October 2023 the Australian Federal Treasury released its public consultation paper regarding the proposed regulatory regime for digital asset platforms. The proposed framework highlights the Australian Government’s intention to ensure consistent oversight and safeguards for consumers by regulating digital asset platforms and other intermediaries within the existing Australian Financial Services Licence (AFSL