[Reuter] Chinese tech giants pause stablecoin plans after Beijing steps in, FT reports

A new controversy in stablecoins has arisen,

Beijing v/s Chinese tech giants!

Chinese regulators, has reportedly instructed to pause⚠️ the stablecoin plans, (regulators include People’s Bank of China (PBOC) and Cyberspace Administration of China (CAC))

As we know earlier during this year,

In May, the Hong Kong’s legislature passed a stablecoin licensing regime.

In June, Ant Group and JD.com planned to participate in the pilot stablecoin programme.

However, none of them have made any official comment on pausing the stablecoin plans

Read more: https://www.reuters.com/business/retail-consumer/chinese-tech-giants-pause-stablecoin-plans-after-beijing-steps-ft-reports-2025-10-19/