Source: Reuters
Hey fintech friends — this week’s update is short, with a strong concentration on regulations across mainland China, Hong Kong, and key cross-border corridors.
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The Coin Related
China asked brokers to stop endorsing stablecoins to cool speculation and hype following Hong Kong’s new regime. This aligns with the government’s concern that stablecoins could become vehicles for scams, illegal fundraising, and herd-driven investment surges that may destabilize the financial system.
Standard Chartered-led JV Anchorpoint (with Animoca, Hong Kong Telecommunications) will apply for a Hong Kong stablecoin issuer license under the new ordinance.
Binance added near-instant Mastercardwithdrawals for European users, expanding fiat off-ramps. It also partnered with BBVA for off-exchange crypto custody to serve institutions.
Licensing & Regulations
Airwallex secures a MiFID license in the Netherlands to launch Yield, enabling money market access for customers.
Sunrate received in-principle approval (IPA) in Malaysia for a Money Services Business license.
Ant International received IPA for the Stored Value Facilities (SVF) and the Retail Payment Services and Card Schemes (RPSCS) licenses.
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