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Stablecoins

Stablecoins
Stablecoins are cryptocurrencies that maintain a stable value by being pegged to a reference asset, typically backed by fiat currency such as the US dollar, offering a less volatile alternative to other digital assets.
Regulators said on Wednesday they would finalise legislative proposals for two new licensing frameworks. Photo: Shutterstock
Hong Kong economy

Hong Kong to broaden crypto rules with new licences for dealers and custodians

New frameworks mooted for virtual asset dealing and custodian services, as Hong Kong forges ahead with plans to become a digital-asset hub.

Yuan

China expands digital-yuan push to Singapore and Asean trade routes

Yuan

What China’s global yuan push looks like – and what could hold it back

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Blockchain

Coins in sand: how the UAE draws in the global crypto community

At Abu Dhabi Finance Week, insiders give credit to the UAE’s regulatory infrastructure and institutional adoption of digital assets.

Abu Dhabi, the capital of the United Arab Emirates, started regulating cryptocurrencies in 2018. Photo: Shutterstock
United States

‘Crypto king’ Do Kwon gets 15 years in prison for misleading investors

The South Korean founder of Terraform Labs had previously pleaded guilty to fraud charges stemming from a US$40 billion stablecoin crash.

IPO

HashKey aims for US$214 million in Hong Kong IPO amid Beijing’s crypto pressure

Retail investors oversubscribe crypto exchange operator’s offering despite China central bank’s tough stance on virtual assets.

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Blockchain

Chinese industry bodies issue RWA tokenisation warning amid Beijing’s crackdown

This was the mainland associations’ first warning to members as Chinese authorities have explicitly targeted RWA tokenisation.

RWA tokenisation is touted as a way to allow faster and cheaper financial transactions. Photo: Shutterstock
Open Questions series

Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

Influential economist says growth in artificial intelligence must protect livelihoods and Chinese central bank’s cryptocurrency caution is warranted.

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Cryptocurrency

HashKey’s IPO seeks US$300 million under shadow of Beijing’s regulatory scrutiny

HashKey is likely to debut on the Hong Kong stock exchange within the next two to three months ‘if it receives adequate investor interest’.

China digital currency

Beijing’s crypto warning casts shadow over Hong Kong’s stablecoin ambitions

Hong Kong’s pioneering stablecoin rules have attracted 30 applicants – will Beijing’s latest warning force the city to rethink its ambitions?

The People’s Bank of China has said stablecoins do not meet the mainland’s requirements on customer identification and anti-money laundering. Photo: Shutterstock
IPO

Hong Kong crypto exchange HashKey wins listing nod in test of investor appetite

HashKey could raise around US$300 million this month amid Hong Kong’s push to develop its digital asset sector.

HashKey is one of 11 licensed virtual asset trading platforms in Hong Kong. Photo: Handout
Fintech

Does tokenisation in China risk a repeat of the P2P lending crisis?

Tokenisation provides value, but the interest of multilevel marketers raises ‘genuine concerns’, forum speaker says.

Banking & finance

China’s PBOC underlines tough stance on virtual currencies like stablecoins

Speculative activities in virtual currencies have resurfaced, PBOC statement warns after multi-department regulatory meeting.

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Fintech

Hong Kong reaps the fruits of fintech seeds sown nearly 10 years ago

Hong Kong’s rise as a fintech hub is due to the concerted regulatory push, with the city competing with Singapore for regional leadership.

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Illustration by Henry Wong
China trade

Explainer | How some Chinese exporters benefit from US dollar-backed stablecoins

From navigating trade restrictions to overcoming regulatory barriers, more traders are embracing the digital asset – but not without risks.

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Stablecoins are helping traders overcome regulatory hurdles, mitigate exchange rate risks and speed up transactions. Photo: Shutterstock
Japan

Opinion | As Japan takes aim at crypto, first mover Hong Kong must look out

The Takaichi government’s pro-digital assets policies place Tokyo as a direct and serious competitor to Hong Kong.

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Law

Legal Tales | How Hong Kong’s law protects those drawn to crypto and virtual asset investments

City has introduced groundbreaking, tailor-made laws designed to protect the public when investing in new class of financial products.

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India

India’s debt-backed stablecoin challenge to US dollar dominance explained

Advocates argue the ARC token will lower India’s borrowing costs, strengthen the rupee and stem outflows to dollar-backed cryptocurrencies.

US dollar banknotes. Analysts say India’s stablecoin move “asserts the trend towards de-dollarisation”. Photo: dpa
Cryptocurrency

US, Chinese authorities ramp up actions against syndicates running crypto scams

Syndicates either trick or coerce targeted victims to invest in bogus schemes and transfer funds via bitcoin, ether or stablecoins.

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Banking & finance

Hong Kong central to Standard Chartered’s digital finance strategy: CEO

Fintech-friendly regulations have convinced the bank to anchor its digital-asset ventures in the city, Bill Winters says.

Cryptocurrency

Hong Kong pushes adjustments to digital-asset rules as Beijing remains cautious

The changes show a ‘clear shift in focus from building guardrails to enabling growth’ in the sector, Clarient Advisory’s Joy Lam says.

The SFC’s latest digital asset-related initiatives aimed to “connect Hong Kong with global liquidity”. Photo: Shutterstock
Fintech

‘Superconnector’ Hong Kong gets boost from Beijing

China is ramping up support for Hong Kong’s finance sector as it develop the city’s role as a link between the mainland and global markets.

Image: Shutterstock
Blockchain

Ant touts ‘tokenised money’ for settlement but remains mum on stablecoin plans

Ant has used tokenised bank deposits to achieve cross-bank real-time settlement this year through Hong Kong’s Project Ensemble.

Blockchain

Solana event cut short as China’s stablecoin warning sparks unease

While organisers attribute the disruption to overcapacity, some industry players fear a renewed crackdown on cryptocurrencies.

Ant Group

Ant Group seeks ‘Antcoin’ trademark in Hong Kong as city embraces crypto

The Antcoin trademark filing has drawn attention, as Hong Kong’s digital asset development comes under scrutiny from Beijing.

The Ant Group booth at the China International Fair for Trade in Services in Beijing, September 10, 2025. Photo: Reuters
Banking & finance

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

Several bitcoins lying on a stack of silver Tether coins. Photo: Shutterstock
Cryptocurrency

Why China’s pause on stablecoins will not dampen Hong Kong’s digital asset hub push

The directive reflects Chinese regulators’ attempts to cool down months of fervour surrounding stablecoins in Hong Kong.

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Blockchain

Crypto cooperation between Hong Kong, mainland China to benefit sector: experts

The mainland already leads in fintech growth, while Hong Kong is at the forefront of crypto regulation.

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