Hong Kong proceeds with stablecoin plans despite Beijing's reservations

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Hong Kong's central bank is pressing ahead with plans to issue an initial batch of stablecoin licenses in March, despite China's long-standing opposition to cryptocurrency activity. Experts, however, see Hong Kong's stablecoin plans as more of a hedge than a reversal of Beijing's position. "We hope that by March we will be able to make a decision," Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, told a Legislative Council meeting on Feb. 2, adding that the authority was