Sunday, 19 October, 2025
Chinese Tech Giants Pause Stablecoin Plans After Beijing’s Intervention
Major Chinese tech companies such as Ant Group and JD.com have halted their plans to issue stablecoins in Hong Kong after directive from regulators including the People’s Bank of China and the Cyberspace Administration of China citing risks of private-sector currencies undermining state control. The pause follows Hong Kong’s May 2025 licensing law for fiat-backed tokens and signals Beijing’s cautious grasp on digital-currency rollout.
Read full story at Economic Times