TechFlow, October 19 — According to Lianhe Zaobao, foreign media citing sources claimed that tech companies including Ant Group, an affiliate of Alibaba, and e-commerce giant JD.com have suspended their plans to issue stablecoins in Hong Kong. It was reported that Ant Group stated in June this year it would participate in Hong Kong's stablecoin pilot program, and JD.com also expressed intentions to join the pilot. The "Hong Kong Stablecoin Bill" was passed in May and officially took effect on August 1. By the end of September, a total of 36 institutions had submitted applications for stablecoin licenses.
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