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PBOC Governor Reaffirms Stablecoin Crackdown as Hong Kong SFC Reviews Crypto Rules

From October 27 to 31, global monetary and regulatory developments included China's continued pressure on stablecoins, Hong Kong's possible crypto investment guidelines for listed firms, and shifts in U.S. Federal Reserve policy.

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Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset such as the US dollar to reduce volatility.
  • Securities and Futures Commission of Hong Kong (SFC): Hong Kong's regulator overseeing securities and futures markets, tasked with ensuring compliance and investor protection.
  • Federal Reserve (Fed): The central banking system of the United States, which manages monetary policy and regulates financial institutions.