TechFlow, October 13 — The Hong Kong Legislative Council released a special bulletin on the latest developments in fintech and digital assets, noting that in response to lawmakers' recommendations, the government has proposed several amendments to the Draft Stablecoin Ordinance. These include allowing stored value facility license holders to sell fiat-backed stablecoins, in addition to the originally proposed four categories of authorized providers. Future proposals will seek central government support to develop offshore RMB stablecoins in Hong Kong.
The bulletin also mentioned that Hong Kong continues to promote green and sustainable finance through the issuance of tokenized green bonds, with approximately USD 43 billion in green and sustainable bonds arranged and issued in Hong Kong to date.
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