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🌍 As the U.S. Leads in Crypto Regulation, Others Follow: Hong Kong Passes Stablecoin Bill
With the U.S. Senate advancing the GENIUS Act—a comprehensive framework for stablecoin regulation—it's clear that the United States is taking a leading role in shaping the future of digital assets. The bill mandates full reserve backing, regular audits, and strict compliance with anti-money laundering laws for stablecoin issuers.

Hot on the heels of this development, Hong Kong has passed its own Stablecoins Bill, establishing a licensing regime for fiat-referenced stablecoin issuers. The legislation requires issuers to maintain high-quality, liquid reserve assets equal to the value of the stablecoins in circulation, ensure redemption at par value, and comply with stringent risk management and disclosure requirements.

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