Chinese tech giants pause stablecoin plans after Beijing steps in, FT reports

Chinese tech giants pause stablecoin plans after Beijing steps in, FT reports

Companies have put their stablecoin ambitions on hold after receiving instructions from Chinese regulators, including the People's Bank of China and Cyberspace Administration of China, not to move ahead with the plans, FT reported.

China tech giants pause stablecoin plans

Chinese tech giants have paused plans to issue stablecoins in Hong Kong, after Beijing raised concerns about the rise of currencies controlled by the private sector, reports the Financial Times. Companies including Alibaba-backed Ant Group and ecommerce group JD.com had said over the summer they would participate in Hong Kong’s pilot stablecoin programme or issue […]

Chinese Tech Giants Halt Hong Kong Stablecoin Plans

Chinese firms Ant Group and JD.com pause Hong Kong stablecoin initiatives after Beijing intervention.

Chinese Tech Giants Pause Hong Kong Stablecoin Plans After Beijing Intervention - Coin Surges

Chinese technology groups including Ant Group and JD.com have paused plans to issue stablecoins in Hong Kong after regulators in Beijing, notably the People’s Bank of China and the Cyberspace Administration of China, advised against moving forward. The Financial Times reported that the companies had expressed interest in Hong Kong’s pilot stablecoin program and tokenized […] Read Entire Article The post Chinese Tech Giants Pause Hong Kong Stable…

Chinese Tech Giants Pause Hong Kong Stablecoin Plans After Beijing Intervention

Chinese technology groups including Ant Group and JD.com have paused plans to issue stablecoins in Hong Kong after regulators in Beijing, notably the People’s Bank of China and the Cyberspace Administration of China, advised against moving forward. The Financial Times reported that the companies had expressed interest in Hong Kong’s pilot stablecoin program and tokenized […]