Golden Finance reported that according to the Hong Kong government press release, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Ching-yu, moved the second reading of the "Stable Currency Bill" at the Legislative Council meeting today and hopes to pass it as soon as possible. The key points of the regulatory system include the following three items: (1) Licensees must maintain a robust reserve stabilization mechanism to ensure that stablecoin reserve assets are composed of high-quality and highly liquid assets, with a total value that is at least equal to the circulating legal currency at all times Stablecoin denominations, properly segregated and Safekeeping; (2) Stable currency holders should have the right to redeem stable coins from the issuer at face value, and redemption requests must be processed without unreasonable fees and within a reasonable time; (3) A series of measures to combat money laundering need to be prescribed , risk management, disclosure regulations and audit and suitable candidate requirements.