News list for " legislative"
According to Bitcoin Laws, the US Senate of Rhode Island has passed Resolution S0373, formally establishing a special legislative committee on blockchain and cryptocurrencies. The committee consists of five members and is mainly responsible for studying the blockchain and cryptocurrency field and making recommendations for relevant legislation.
Duncan Chiu, a member of Hong Kong's Legislative Council and chairperson of the Technology and Innovation Commission, which oversees the city's tech parks and research facilities, said the city's initial caution in regulating cryptocurrencies had given it an advantage. "Sometimes,...
Fourteen members of Hong Kong's Legislative Council C15 + met with Financial Secretary Paul Chan and other officials on the afternoon of February 6 to discuss the new budget. Among them, Legislative Council Member Ng Kit-chuang put forward a total of 22 proposals in five areas, including the development of the Web3 industry. In terms of Web3 industry support, Wu Jiezhuang proposed to continue the development direction of the 2023/24 budget and put forward two key measures: First, invest 50 milli...
The Legislative Council of Hong Kong released the first thematic newsletter in 2025 "Strengthening Hong Kong's status as an international financial center". The thematic newsletter is a new service launched by the Parliamentary Affairs Division of the Legislative Council Secretariat in December 2024. The latest thematic newsletter stated: The Bills Committee of the Legislative Council is scrutinizing in detail the Companies (Amendment) (No. 2) Bill 2024 and the Stablecoin Bill to introduce a mec...
According to techinasia, the Legislative Council of Hong Kong, China, discussed the proposed stablecoin bill on January 23. This was the first meeting of the bill since its first reading on December 18, 2024. Key officials, including Deputy Secretary General for Financial Services and the Treasury Francis Ho, outlined the regulatory framework for stablecoins. The bill requires issuers to obtain a license from the HKMA and maintain a reserve of high-quality, highly liquid assets. The proposed leg...
Wu Jiezhuang, chairperson of the committee of the Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum, said that Hong Kong's virtual asset trading platform license requirements are very high, and the withdrawal of the application is mainly due to the company's financial problems, business maturity, investment technology and the suitability of warehousing candidates. On how the Hong Kong virtual asset market can serve the needs of the country in the future, Wu Jiezhuang believ...
The Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee Chairperson Wu Jiezhuang said that the Hong Kong High Court heard the world's first lawsuit involving a decentralized autonomous organization (DAO) in August this year. At present, the United States and Abu Dhabi have relevant legal frameworks to regulate DAOs. Since DAOs have no legal subject, it is recommended that the special administrative region government can refer to the licensing system of the securitie...
Li Weihong, a member of the Hong Kong Legislative Council (financial services sector), put forward the motion "Promoting high-quality development and building a financial powerhouse" at the Legislative Council meeting yesterday (November 27) and passed it. It is reported that the motion mainly focuses on six strong key core elements, and the development of technology finance, green finance, inclusive finance, pension financing and digital finance "five big articles" to achieve the goal of financ...
The Web3 and Virtual Asset Development Subcommittee of the Hong Kong Legislative Council held a meeting on November 19 to discuss the promotion of blockchain technology application and Web3 development. Business lawmakers Yan Gang proposed to combine the development of virtual asset indices and stablecoins in Hong Kong, so that Hong Kong can gain a certain say in the pricing power of virtual asset transactions. It is hoped that the SAR government will make further plans in this regard.
According to Hong Kong media reports, Hong Kong plans to submit a stablecoin issuer supervision system bill to the Legislative Council this year. Jeremy Allaire, co-founder and chief executive of Circle, the world's second largest stablecoin issuer, said that Hong Kong is an important market for USDC and intends to hire more employees and establish business in Hong Kong. It is waiting for the introduction of Hong Kong's new stablecoin regulations. After understanding the regulations, it will con...
