The Hong Kong Legislative Council has established the Stablecoins Bill in May 2025, improving the digital asset environment and setting comprehensive regulatory standards, which is considered a key measure for RMB urbanization and cross-border payment expansion.
According to CoinCU on the 22nd (local time), the establishment of the Stablecoins Bill in Hong Kong emerged from efforts to build a regulatory environment that helps digital asset innovation, with major financial companies such as HSBC and JD.com publicly supporting this initiative.
The law aims to activate financial operations through cross-border payment systems and RMB global integration. The bill's enactment will serve as a turning point to foster institutional investment and expand digital trading platforms. Enhanced regulations are expected to solidify market stability and help Hong Kong's global financial position.
Yang Zeyuan, an analyst at CITIC Securities, said, "The new law will go beyond stablecoins and establish the tokenization of trillions of dollars in real-world assets (RWAs) in the city. Stablecoins will remove volatility in the tokenization sector and increase market liquidity for emerging industries."
The Stablecoins Bill is expected to strengthen Hong Kong's global role. Previous financial centers with clear regulations, such as Singapore, have historically promoted digital asset innovation through clear protocols, reflecting the anticipated impact in Hong Kong.
These regulatory measures are at the center of RMB urbanization and cross-border payment expansion, setting a precedent for stablecoin use and tokenization in the region.
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