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TechFlow reported that Hong Kong's Deputy Secretary for Financial Services and the Treasury, Clement Chan, said at a Legislative Council subcommittee meeting on Web3 and virtual asset development that authorities are drafting the second version of regulations for a regulatory regime for fiat-backed stablecoin issuers, with plans to submit the bill to the Legislative Council for review by the end of this year.
Hong Kong's Deputy Secretary for Financial Services and the Treasury, Eddie Chan, said at a Legislative Council Subcommittee meeting on Web3 and virtual asset development that authorities are drafting the second version of regulations for a fiat-backed stablecoin issuer regime, with plans to submit the bill to the Legislative Council for review before the end of this year.
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