No, China didn’t just ban crypto. But something far more interesting is happening on its doorstep
If some of the less trustworthy corners of the internet were to be believed, China took a fairly drastic step against cryptocurrencies last weekend by banning them.
As it turns out, that was fake – or at the very least old – news; Beijing did put a ban on trading and mining crypto, but that was handed down on September 24, 2021, a lazy 1409 days earlier.
But if you zoomed out just slightly from the Chinese mainland, then there was a genuine development.
On August 1, new regulations in Hong Kong came into effect, allowing companies to apply for a licence to issue stablecoins.
Unlike more typical cryptocurrencies like Bitcoin, whose value fluctuates wildly, the value of…
