PANews reported on November 4 that USDC stablecoin issuer Circle plans to expand its business layout in Hong Kong, according to Sing Tao Daily. Circle co-founder and CEO Jeremy Allaire said that Hong Kong is an important market for USDC and the company intends to recruit more employees and establish a business network in Hong Kong. He revealed that Circle is paying close attention to the new stablecoin bill proposed by Hong Kong and will decide whether to apply for a license after the government submits the relevant system to the Legislative Council at the end of the year. Allaire hopes that the Hong Kong Monetary Authority (HKMA) will provide a clear regulatory framework for stablecoin issuers to promote compliance expansion of business.