China New Stablecoin Regulation: Domestic Promo Dem Banned, Hong Kong Framework Don Launch
China financial people don ban to promote stablecoin, do research or run seminar as new stablecoin regulation to stop fraud and speculative trading. Banks suppose dey flag high-risk crypto trade wey connect with cross-border gambling and underground banking. Meanwhile, Hong Kong don start six-month framework to issue stablecoin, with Standard Chartered, Animoca Brands, JD.com, and Ant Group Singapore wey don register to sabi plan HKD stablecoins. Offshore yuan stablecoins dey come too: Conflux yuan-backed token (CFX) and AnchorX AxCNH don get approval for Belt and Road markets. This approach mean say China get two strategy for stablecoin regulation: strict control for inside country plus proactive offshore issuance to increase their digital asset power.
Neutral
DiNews no be tinz we go affect stablecoin price. China regulators clampdown don reduce speculation but e no affect peg stability. Hong Kong framework plus offshore issuance dey support market development. For short term, domestic stablecoin movement fit slow down, but long-term offshore plans fit balance wahala. Overall, stablecoin supply and demand still balance, price stability still dey.