China’s Plan to Fight Dollar Dominance Begins in Hong Kong on August 1

An offshore renminbi (RMB) stablecoin is advancing rapidly as Hong Kong implements its new stablecoin ordinance. This comes as Chinese tech firms like JD.com and Ant Group are lobbying to issue a CNH-backed stablecoin from the city. The Hong Kong Legislative Council passed its Stablecoin Bill on May 21, with the law officially taking effect […] The post China’s Plan to Fight Dollar Dominance Begins in Hong Kong on August 1 appeared first on Coin Edition.