Chinese Regulators Halt Ant Group and JD.com’s Stablecoin Plans

Chinese regulators have dealt a blow to the plans of tech giants Ant Group and JD.com to launch stablecoins in Hong Kong, marking yet another instance of Beijing’s tight grip on digital currencies. The move signals China’s intention to preserve its financial control over the region while potentially impacting Hong Kong’s aspirations to become a stablecoin hub. 🇨🇳 🎲