# Policy Articoli collegati

Il Centro Notizie HTX fornisce gli articoli più recenti e le analisi più approfondite su "Policy", coprendo tendenze di mercato, aggiornamenti sui progetti, sviluppi tecnologici e politiche normative nel settore crypto.

The Door to Offshore Stablecoins Quietly Closes Amid the Vision of RMB Internationalization

China's recent regulatory crackdown has effectively closed the door on offshore issuance of yuan-pegged stablecoins, dealing a significant blow to Hong Kong’s ambitions to become a digital asset hub. The new rules, announced on February 7, explicitly prohibit domestic institutions from issuing digital tokens overseas without approval, citing concerns over monetary sovereignty. This move dashes earlier market expectations of a policy thaw in China’s stance toward digital assets, particularly after PBOC Governor Pan Gongsheng’s earlier comments about the yuan challenging dollar dominance. Industry observers note that the tightening was foreshadowed as early as August 2024, when Chinese authorities began restricting stablecoin-related research and promotional events. The latest policy removes any ambiguity around private yuan stablecoin issuance and reinforces capital control priorities. As a result, firms that had planned to apply for stablecoin licenses in Hong Kong—including Ant Group and JD.com—are now expected to focus solely on Hong Kong dollar-pegged stablecoins, if they proceed at all. Market data reflects the dampening effect: open interest in Bitcoin perpetual futures has fallen roughly 50% since October, and investors have withdrawn approximately $3.3 billion from U.S. Ethereum ETFs since last fall. The regulatory shift underscores the fundamental tension between China’s capital controls and the borderless nature of crypto innovation, forcing industry players to consolidate around more permissible areas like stablecoin infrastructure and prediction markets.

比推Ieri 14:09

The Door to Offshore Stablecoins Quietly Closes Amid the Vision of RMB Internationalization

比推Ieri 14:09

活动图片