China’s securities regulator is quietly urging home brokerages to halt their real-world asset (RWA) tokenization operations in Hong Kong, elevating purple flags over the fast-growing digital belongings sector being cultivated offshore. Key Takeaways: China’s CSRC has urged native brokerages to pause RWA tokenization efforts in Hong Kong attributable to rising regulatory issues. Hong Kong continues…
Shares of Bank of China Hong Kong unit jumped 6.7% on Monday, closing at HKD 37.58, after native reviews revealed the state-owned lender is getting ready to use for a stablecoin issuer license underneath Hong Kong’s new regulatory framework. The information has fueled hypothesis that one of China’s largest banks may quickly challenge a state-backed…
Chinese fintech heavyweight Ant Group has dismissed speculation that it is collaborating with the People’s Bank of China (PBoC) to issue a rare earth-backed RMB stablecoin. Key Takeaways: Ant Group denied working with the PBoC on a rare earth-backed RMB stablecoin. Regulatory restrictions keep Chinese firms’ stablecoin efforts focused on overseas markets. Authorities have tightened…
Chinese financial regulators have instructed local brokerages and research bodies to halt publishing studies or hosting seminars that promote stablecoins, to limit potential risks from the fast-growing asset class. Key Takeaways: China has ordered brokerages to stop promoting stablecoins over fraud and risk concerns. The crackdown comes despite speculation of a softer crypto stance and…
A China security ministry has warned that foreign agents are using crypto schemes to collect sensitive biometric data, including iris scans, posing a threat to both personal privacy and national security. Local outlet Global Times reported Wednesday that the ministry outlined the growing risks tied to biometric technologies. It said recent cases have shown foreign…
Beijing authorities sentenced tech executive Feng to 14 years for a $19.5 million crypto laundering scheme at a major short video platform. According to a People’s Daily report, the Haidian District People’s Court convicted Feng and seven co-conspirators of occupational embezzlement after they illegally stole 140 million yuan in company incentive funds. Prosecutors revealed that…