Hong Kong's Legislative Council passed the Stablecoin Regulation Bill in its third reading on May 21, positioning the city among the first global jurisdictions to formalize stablecoin legislation. The bill is expected to take effect within 2025.
Key Provisions of the Stablecoin Bill
- Licensing Requirement: Issuers of fiat-backed stablecoins linked to Hong Kong dollars must obtain a license from the Monetary Authority.
- Asset Management: Mandates include segregated customer funds, robust stabilization mechanisms, and guaranteed redemption at face value.
- Compliance: Strict anti-money laundering (AML), risk management, and disclosure rules apply.
Financial Secretary Christopher Hui emphasized the bill aligns with international standards, reinforcing Hong Kong's role as a financial hub while protecting user rights.
Bitcoin Surges Past $110,000 Amid Regulatory Milestones
Concurrent with Hong Kong's move, progress in U.S. stablecoin legislation fueled a crypto market rally:
- Bitcoin soared to a historic high of $110,000, surpassing its January 2025 peak.
- Market analysts attribute gains to institutional inflows and regulatory clarity.
TRON Overtakes Ethereum as Top USDT Issuance Network
Tether data reveals TRON hosts 50.2% of all USDT (757 billion), surpassing Ethereum’s share.
TRON’s Growth Drivers:
- Speed & Cost: Low fees (~$0.001/transaction) vs. Ethereum’s high gas fees.
- Adoption: 160 billion new USDT minted on TRON in 2025 alone.
- Ecosystem: 250 billion daily transaction volume; 49 billion DeFi trading in April 2025.
Justin Sun, TRON founder, stated: "Aiming for 1 trillion USDT is not a dream—it’s a预告 (preview)."
👉 Explore crypto trading platforms for low-fee stablecoin transactions.
FAQ: Hong Kong’s Stablecoin Regulation
Q: When will the stablecoin law take effect?
A: Expected within 2025, with licensing details to follow.
Q: How does this impact global crypto markets?
A: Enhances legitimacy, likely attracting institutional investments.
Q: Why did TRON surpass Ethereum in USDT issuance?
A: Faster transactions and lower costs drove user migration.
Future Outlook
TRON’s infrastructure—supporting 306M accounts and 10.3B transactions—positions it as a cornerstone for decentralized finance (DeFi). With projects like World Liberty Financial adopting its network, TRON aims to dominate Web3 financial solutions.
👉 Discover TRON’s DeFi ecosystem for seamless stablecoin transfers.
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