Chinese companies including Alibaba (BABA)-backed Ant Group and JD.com (JD) have paused plans to issue stablecoins in Hong Kong after instructions from regulators not to move ahead, The Financial Times’ Cheng Leng, Zijing Wu, Arjun Neil Alim, and Ryan McMorrow report. People’s Bank of China officials have advised against participating in the initial stablecoin rollout over concerns about allowing tech groups and brokerages to issue any type of currency, multiple people familiar with the situation say.
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