Here are the latest news related to crypto from Asia and globally:
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🇨🇳 1. Chinese Giant Pushes Offshore Yuan Stablecoin
JD.com and Ant Group are lobbying the PBOC to launch an offshore yuan-based stablecoin in Hong Kong, as a strategic move to expand the global use of the yuan and compete with the dominant Tether/USD pegged cryptocurrency.
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🏦 2. Hong Kong Ready to Become Regional Stablecoin Hub
Starting August 2025, Hong Kong will implement a Stablecoin Bill, requiring issuers to have 100% reserves and a license from the HKMA. This makes Hong Kong a pioneer in stablecoin regulation and attracts global financial institutions.
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📦 3. Stability & Digital Logistics in Hong Kong
Hong Kong is not only targeting stablecoins financially, but also integrating them into logistics platforms like CargoX and CDI. This aims to create an efficient blockchain-based supply chain system.
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⚖️ 4. Relocation of Asian Liquidity to Hong Kong
The stringent regulations in Singapore—which will require crypto exchanges to have licenses by June 2025—are driving liquidity flows towards Hong Kong, which is now seen as a more friendly and structured crypto environment.
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🇵🇰 5. Pakistan Expands Diplomacy with Crypto & Rare Earth
Pakistan is lobbying Washington to make Bitcoin mining a national hub, allocating 2,000 MW of electricity and forming strategic reserves. They even nominated Trump for the Nobel Peace Prize to gain political and economic support.
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🏦 6. Comprehensive Digital Asset Framework in Hong Kong
The FSTB of Hong Kong released a digital assets policy that unifies licensing for exchanges, stablecoin issuers, and custodians. The SFC oversees non-banks, while the HKMA handles bank activities related to digital assets.
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