Beijing’s efforts to internationalize the renminbi are going digital.
Pan Gongsheng, governor of the People's Bank of China, speaks at a press conference in Beijing, May 7, 2025. Credit: Kyodo via AP Images
Regulators in Hong Kong are poised to license issuers of stablecoins for the first time, bringing the financial hub formally into an industry worth an estimated $225 billion.
An excerpt from Hong Kong's Stablecoins Ordinance.
The Hong Kong Monetary Authority’s first deadline for companies to apply for licenses to launch digital currencies that can be pegged to the Hong Kong dollar, a currency which is itself pegged to the greenback, passed on Tuesday. The HKMA has announced that it will
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