Hong Kong’s Legislative Council has passed a landmark bill to regulate fiat-backed stablecoins, with the law expected to take effect by the end of 2025. The new framework, overseen by the Hong Kong Monetary Authority (HKMA), introduces a licensing regime requiring issuers to meet stringent standards, including asset segregation, redemption guarantees, and compliance with anti-money laundering laws. The move aims to boost confidence in the city’s virtual asset ecosystem while positioning Hong Kong as a leader in Web3 development. Only licensed entities will be permitted to issue or promote stablecoins tied to the Hong Kong dollar, regardless of their location. Officials emphasize that the law aligns with global regulatory standards and will foster long-term industry growth.
about Hong Kong Passes Landmark Stablecoin Regulation BillJohnny Ng
0 posts last weekHong Kong Accepts Bitcoin and Ethereum for Investment Immigration Visas
Hong Kong has officially recognized Bitcoin and Ethereum as valid proof of assets for investment immigration, requiring applicants to hold a minimum of HKD 30 million (approximately $3.85 million) in crypto. This policy shift has already led to the approval of two applicants, one for each cryptocurrency, and aims to attract global crypto investors while ensuring regulatory compliance. The initial visa granted lasts for two years, with the possibility of renewal, as the government continues to monitor asset ownership to prevent misuse.
about Hong Kong Accepts Bitcoin and Ethereum for Investment Immigration VisasBlackRock Expands Ethereum Holdings with Recent Multi-Million Dollar Purchases
BlackRock has significantly expanded its Ethereum holdings, acquiring $276.16 million worth on February 4, following earlier purchases totaling $128.3 million within two days. This move aligns with the firm’s strategy after filing for a spot Ethereum ETF in November, as CEO Larry Fink views Ethereum as a valuable blockchain asset rather than a currency.In related news, Hong Kong legislator Johnny Ng urges faster pro-crypto initiatives in response to U.S. crypto czar David Sacks’ recent press conference, emphasizing the need for the region to enhance its crypto industry to remain competitive globally. Ng recommends government actions to support stablecoins and a national Bitcoin reserve.
about BlackRock Expands Ethereum Holdings with Recent Multi-Million Dollar Purchases