OSL： The first reading of the Stablecoins Bill by the Hong Kong Legislative Council will consolidate its position as the global regulatory center for stablecoins

Odaily Planet Daily News: The Hong Kong Legislative Council will conduct the first reading of the "Stablecoins Bill" today, aiming to introduce a regulatory system for stablecoin issuers in Hong Kong. OSL Executive Director and Head of Regulatory Affairs, Diao Jiajun, stated that Hong Kong has a clear advantage in developing stablecoins, mainly because several companies, including OSL, have become licensed by the Securities and Futures Commission. In terms of intermediary supervision, Hong Kong's legal framework is already in place. In contrast, some Western countries are still in the discussion stage, and there are still many uncertainties in the United States. The advancement of this legislative process will further consolidate Hong Kong's position as a global center for the development and regulation of stablecoins.