Chinese Tech Giants Halt Hong Kong Stablecoin Plans Following Beijing's Warning
Chinese Tech Giants Halt Hong Kong Stablecoin Plans Following Beijing's Warning
Chinese technology conglomerates, Ant Group and JD.com, have reportedly suspended their initiatives to launch stablecoins in Hong Kong. This decision follows directives from mainland regulators, underscoring Beijing's escalating efforts to control the issuance of digital tokens, even as Hong Kong progresses with its own regulatory framework for licensed stablecoin operators.
Chinese Tech Titans Retreat From Hong Kong Stablecoin Launch After Beijing Warning
Chinese tech giants Ant Group and JD.com have paused plans to issue stablecoins in Hong Kong after being told to stop by mainland regulators, according to reports. The move comes as Beijing reasserts control over who can issue money-like tokens, even as Hong Kong builds a legal path for licensed stablecoin firms. Related Reading: 40 […]