Hong Kong proceeds with stablecoin plans despite Beijing's reservations [CNBC]
JD.com, Inc. - American Depositary Shares (JD)
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Source: CNBC
Beijing maintained opposition to crypto, signaling no shift in its mainland ban. The rollout positioned Hong Kong as a controlled test case rather than a policy reversal. In this article INDIA - 2025/05/22: In this photo illustration, a Bitcoin logo is seen displayed on a smartphone with the Hong Kong flag in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Hong Kong's central bank is pressing ahead with plans to issue an initial batch of stablecoin licenses in March, despite China's long-standing opposition to cryptocurrency activity. Experts, however, see Hong Kong's stablecoin plans as more of a hedge than a reversal of Beijing's position. “We hope that by March we will be able to make a decision,” Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, told a Legislative Council meeting on Feb. 2, adding that the authority was reviewing an initial tranche of 36 stablecoin issu
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