📰 Latest Updates on Cryptocurrency and Blockchain in China – July 2025 🇨🇳

🚀 1. Will a Renminbi Stablecoin Be Launched?

Chinese tech giants JD.com and Ant Group are pushing for the launch of an offshore Renminbi stablecoin in Hong Kong, aiming to get ahead before the new digital asset licensing regulations take effect on August 1. If approved, it would mark a significant turning point in crypto policy.

💰 2. The World’s First Renminbi-Denominated Tokenized Fund Launches

On July 17, Huaxia Fund’s Hong Kong subsidiary launched the world’s first Renminbi-denominated tokenized money market fund. This fund continues the trend of dollar and Hong Kong dollar tokenized products, promoting digital financial innovation within a compliant framework.

⛏️ 3. Mining Faces New Crackdowns, Crypto Market Under Pressure

This month, China has once again intensified its crackdown on illegal Bitcoin mining, leading to the forced shutdown of some mining operations and causing market turbulence among miners in Southeast Asia.

📊 4. Shanghai Regulators Signal More Flexibility

In mid-July, Shanghai held a closed-door meeting to discuss stablecoin and digital finance regulatory strategies. According to informed sources, the meeting signaled a more “pragmatic” regulatory attitude, which may indicate a gradual policy adjustment.

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🔎 Behind the Significance:

Although mainland China still fully prohibits cryptocurrency trading and holding, Hong Kong is emerging as an experimental platform for Renminbi stablecoins and compliant tokenized assets. Beijing seems to be distinguishing between “speculative crypto assets” and “controllable financial innovations.”

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