Chinese tech companies, including Ant Group and JD.com, have reportedly paused their plans to issue stablecoins in Hong Kong. This decision follows concerns raised by Beijing regarding the rise of currencies controlled by the private sector, reported Financial Times. The companies had initially planned to participate in Hong Kong's pilot stablecoin programme or issue virtual asset-backed products. The People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) instructed these compani ...