https://www.scmp.com/rss/510534/feed Jiaying Jiang is an associate professor of law at the University of Florida Levin College of Law. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Jiaying Jiang Jiaying Jiang Last month, the United States passed the Genius Act, a landmark piece of legislation that finally brings stablecoin – a cryptocurrency asset pegged to the US dollar – under a federal regulatory framework. While this may seem like a domestic achievement, the global implications are far-reaching, particularly for jurisdictions in Asia, including Hong Kong and mainland China. The Genius Act is more than just cryptocurrency regulation; it represents a digital extension of US financial influence. By... https://www.scmp.com/opinion/hong-kong-opinion/article/3320502/hong-kong-can-lead-charge-yuan-alternative-us-stablecoin?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3320502/hong-kong-can-lead-charge-yuan-alternative-us-stablecoin?utm_source=rss_feed Tue, 05 Aug 2025 01:30:08 +0000 Karman Lucero,Jiaying Jiang Karman Lucero,Jiaying Jiang As countries experiment with central bank digital currencies (CBDCs), China is the only large economy with an actively deployed CBDC: the digital yuan, or e-CNY. China’s central bank recently announced that the e-CNY will no longer be limited to Chinese people or domestic businesses but can be used by foreigners in China, particularly at the upcoming Beijing Winter Olympics. China will also explore the applicability of the e-CNY in cross-border transactions, so it may spread... https://www.scmp.com/comment/opinion/article/3144703/chinas-digital-yuan-ambitions-raise-more-questions-answers?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3144703/chinas-digital-yuan-ambitions-raise-more-questions-answers?utm_source=rss_feed Sun, 15 Aug 2021 02:15:06 +0000