HONG KONG :Hong Kong's legislature passed a stablecoin bill on Wednesday that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong, providing regulatory clarity for upcoming stablecoin issuers. Under the new regime, any person who issues stablecoins in Hong Kong - or issues stablecoins backed by Hong Kong dollars, whether within or outside the city - must obtain a licence from the Hong Kong Monetary Authority (HKMA), according to a government press release. The