Ant Group and JD.com have paused their stablecoin issuance plans in Hong Kong due to new regulatory pressures stemming from the Hong Kong Stablecoin Ordinance, which comes into effect in August 2025. The companies’ decisions reflect a broader trend of challenges faced by digital asset adoption within the region. While the market remains unchanged at this time, the halt underscores the impact regulations are having on stablecoin initiatives. Ant Group and JD.com were preparing to apply for licenses to issue these stablecoins in Hong Kong and Singapore, but no official statements have been released yet. The absence of clarity from company executives adds complexity to the situation.