Hong Kong Stablecoin Law Becomes China’s Crypto Policy Sandbox
- Hong Kong’s Stablecoin Law lets Beijing test crypto regulation under HKMA supervision.
- China keeps its 2021 crypto ban while expanding e-CNY and studying yuan-backed tokens.
- U.S. GENIUS Act pushes Beijing to modernize digital-asset policy through Hong Kong.
Mainland China continues to enforce the 2021 crypto ban, established by the People’s Bank of China (PBOC) in its September 24, 2021, notice that made all virtual-currency transactions illegal.
That ban ended years of Chinese dominance in mining and exchange activity but also gave Beijing full control over what digital-asset innovation could legally occur.
Four years later, regulators still rely on that legal foundation, allowing experimentation only through regional carve-outs they can monitor.
Hong Kong Implements the Stablecoins Ordinance Under HKMA Licensing
Hong Kong took the opposite path and i…
Read The Full Article Hong Kong Stablecoin Law Becomes China’s Crypto Policy Sandbox On Coin Edition.
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Hong Kong Stablecoin Law Becomes China’s Crypto Policy Sandbox
- Hong Kong’s Stablecoin Law lets Beijing test crypto regulation under HKMA supervision.
- China keeps its 2021 crypto ban while expanding e-CNY and studying yuan-backed tokens.
- U.S. GENIUS Act pushes Beijing to modernize digital-asset policy through Hong Kong.
Mainland China continues to enforce the 2021 crypto ban, established by the People’s Bank of China (PBOC) in its September 24, 2021, notice that made all virtual-currency transactions illegal.
That ban ended years of Chinese dominance in mining and exchange activity but also gave Beijing full control over what digital-asset innovation could legally occur.
Four years later, regulators still rely on that legal foundation, allowing experimentation only through regional carve-outs they can monitor.
Hong Kong Implements the Stablecoins Ordinance Under HKMA Licensing
Hong Kong took the opposite path and i…
Read The Full Article Hong Kong Stablecoin Law Becomes China’s Crypto Policy Sandbox On Coin Edition.
Читать больше
Bitcoin Price Surges Back to $116,000 After Bloody Crypto Weekend