China's pause on stablecoin projects will not dampen Hong Kong's crypto push, experts say

Beijing's recent moves to rein in mainland Chinese firms' stablecoin and tokenisation initiatives in Hong Kong may have rattled the city's crypto sector, but the Chinese government's increased openness to digital assets overall had not changed amid competition with the US, experts said. The People's Bank of China (PBOC) recently summoned a number of mainland firms under its jurisdiction, asking them to wait for its instructions before moving forward with their stablecoin initiatives in Hong Kong, accordin ...