China

Leading Chinese-based Layer 1 blockchain Conflux Network is eyeing on the release of a stablecoin, which would be pegged to the offshore Chinese Yuan.

Shanghai is hosting its first secret study session focusing on stablecoins, even as China maintains a national ban on cryptocurrencies.

CMB International Securities (CMBI), the brokerage division of China Merchants Bank, has received a virtual asset licence from Hong Kong’s Securities and Futures Commission (SFC), marking a significant milestone for the regional digital assets landscape.

China SanSan Media plans to apply for a stablecoin licence in Hong Kong ahead of new rules starting on 1 August. The company aims to use stablecoins to improve retail payments and reduce costs.

Ant Group plans to add USDC, a dollar-backed stablecoin from Circle, to its blockchain platform for international payments. The move depends on US regulatory approval and could make Ant a major user of regulated digital currencies outside China.

In its push to revive its struggling economy, China has started dishing out visa-free entry programs to many countries, with the exception of North America and Africa.

TikTok is planning to launch a new app specifically for U.S. users by September 2025 amid ongoing talks to address national security concerns over its Chinese ownership. The existing app will be phased out by March 2026, with users required to switch to the new version to continue using the platform.

The city’s government task force issued a high alert on Monday, urging residents to exercise caution when approached by unlicensed entities promoting digital asset investments.

FTX has paused creditor payouts in 49 countries due to legal concerns about local crypto restrictions, with most frozen funds linked to users in China. Creditors must wait for legal approval before payments resume, and some are planning to challenge the freeze in court.

Nasdaq-listed Addentax Group Corp., a Shenzhen-based microcap company, has announced plans to acquire up to 12,000 bitcoin in a deal valued at approximately $1.3 billion.