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Hong Kong will soon make it illegal to market unlicensed stablecoins to the public, as the city tightens controls ahead of the rollout of a long-anticipated regulatory framework . The move comes as authorities seek to cool market euphoria and protect retail investors from hype and fraud in the digital asset space. Eddie Yue, chief executive of the Hong Kong Monetary Authority (HKMA), issued a warning on Wednesday, just days before the city’s Stablecoins Ordinance comes into effect on Aug. 1. In a blog post, he urged the public to remain cautious amid “frothy” market behavior and excessive excitement over stablecoins. Dozens of Firms Eye Stablecoin Licenses Amid Tightening Rules Yue said the new law will make it illegal to offer or actively promote fiat-referenced stablecoins, or FRS, to retail investors. However, this restriction applies only to those without a license from the HKMA. “We urge the public to stay vigilant to avoid violating the law inadvertently,” he wrote, adding that some recent promotions have bordered on market manipulation or fraud. The crackdown follows a surge of interest from companies seeking to tap into Hong Kong’s evolving Web3 ecosystem. More than 40 firms have reached out to regulators in recent months. However, most of their proposals are still in the early stages and lack viable business plans. Additionally, a few firms are reportedly still grappling with basic questions around risk management and technical capability. Hong Kong’s new stablecoin regulations will take effect on August 1, introducing a strict licensing regime and reserve requirements for issuers. #HongKong #StablecoinRegulations https://t.co/Dq6UAZsKl1 — Cryptonews.com (@cryptonews) June 6, 2025 Among the companies reportedly preparing applications are Ant Group, JD.com, Standard Chartered and Circle. In addition, several law firms told Chinese outlet Yicai that more clients are still finalizing their documents. These submissions are expected once the law officially takes effect. Stablecoin Bill Sets Strict Rules on Backing, Licensing and Access The stablecoin bill introduces a licensing regime that covers both issuers and service providers. According to official guidance, only a limited number of licenses will be granted at first. In addition, unlicensed stablecoin offerings will be restricted to professional investors. The first approvals are expected to come later this year. Yue warned that many applicants may be disappointed. “A mere announcement of intention to explore stablecoin-related business or digital assets is enough for some listed companies to grab headlines and send stock prices and trading volumes soaring,” he wrote. “Investors should remain calm and exercise independent judgment.” Under the new rules, stablecoins must be fully backed by high-quality, liquid reserves in the same currency. These reserves can include cash, bank deposits or government bonds. Moreover, they must be held in trust, separated from company assets, and shielded from creditor claims in case of insolvency. Global Momentum Builds for Stablecoin Regulation, HK Joins In The crackdown comes as international regulators intensify their focus on stablecoins. Recently, the Bank for International Settlements highlighted the sector’s potential money laundering risks. In particular, it warned about vulnerabilities in cross-border use cases. The US, meanwhile, passed landmark stablecoin legislation earlier this month under President Donald Trump’s administration, signaling a global shift toward formal oversight. Hong Kong, which has positioned itself as a digital asset hub in Asia, has taken a cautious but proactive approach. Yue said the HKMA is finalizing its supervisory and anti-money laundering guidelines. The authority expects to publish them by the end of July. While the final rules may see minor changes from earlier drafts, the regulator is still expected to take a tough stance on financial crime safeguards. “Regulation is an art of balancing divergent objectives,” Yue wrote. “More stringent regulatory requirements will inevitably limit the room for stablecoin businesses to scale rapidly in the short term.” To provide clarity on the application process, the HKMA will release an explanatory note next week outlining how it will accept and assess license applications. The post Hong Kong Declares Unlicensed Stablecoin Promotions a Crime appeared first on Cryptonews .

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The post India Strengthens Tax Surveillance on Crypto and Cloud Storage appeared first on Coinpedia Fintech News India has upgraded its tax surveillance to tackle evasion in digital banking, cryptocurrency, and cloud storage. The Central Board of Direct Taxes (CBDT) is actively involved in global crypto regulation talks. From April 1, 2026, digital evidence will be crucial in investigations, enhancing authorities’ ability to track tax evasion. Access to crypto wallets will be restricted to income tax raids only, reinforcing government control over digital assets and promoting compliance in the rapidly evolving digital economy.

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Asia-Pacific markets traded mostly higher on Thursday, with Japan's indices approaching record highs, and following a rally on Wall Street Wednesday after the US reached trade deals with the EU. Reports indicated that the US and EU are moving closer to a deal, with discussions centered around a 15% baseline tariff on EU goods and possible exemptions. U. S. President Donald Trump announced that new "reciprocal" tariffs will start at 15%, with rates ranging from 15% to 50%. Higher tariffs will target countries the U. S. has poor relations with, ahead of an August 1 deadline. Thailand’s trade surplus widened to USD 1.06 billion in June 2025, up from USD 0.22 billion in the same month last year, as exports outpaced imports. ****** has unveiled its “Ten Major AI Infrastructure Projects” initiative, aiming to generate over TWD 15 trillion in economic value by 2040 and position itself as a global AI powerhouse. Gold fell below $3,380 per ounce on Thursday, extending its more than 1% loss from the previous session. Japan ( NKY:IND ) rose 1.70% to above 41,600 while the broader Topix Index jumped 1.5% to 2,970 on Thursday, with the latter reaching all-time highs as the recently announced trade deal between the US and Japan continued to support market momentum. The Japanese yen strengthened past 146 per dollar on Thursday, reaching a two-week high as optimism surrounding the new US-Japan trade deal lifted demand. On the domestic front, Japan’s private sector growth held steady in July, supported by solid services activity, though manufacturing slipped into contraction. The au Jibun Bank Japan Manufacturing PMI unexpectedly dropped to 48.8 in July 2025 from June’s final reading of 50.1, which marked the first time in 13 months that the index exceeded the 50.0 threshold separating expansion from contraction, preliminary estimates showed. The S&P Japan Services PMI rose to 53.5 in July 2025 from a final 51.7 in the previous month, preliminary data showed. China ( SHCOMP ) rose 0.47% to above 3,590 and the Shenzhen Component gaining 0.5% to 11,120, as optimism over renewed US-China trade talks pushed both indexes to multi-month highs, and the offshore yuan strengthened past 7.14 per dollar on Thursday, extending gains from the previous session and hitting its strongest level since November 2024. Optimism continued ahead of a planned meeting between U.S. and Chinese officials in Stockholm next week to discuss extending the current tariff truce. Investors are now turning their attention to China’s industrial profits data due this weekend for clues on how domestic firms are managing ongoing trade uncertainty. Hong Kong ( HSI ) rose 0.56% to 25,670 in early trade on Thursday, marking the fifth session of gains and holding at their highest level in nearly four years. India ( SENSEX ) fell 0.25% The HSBC India Manufacturing PMI climbed to 59.2 in July 2025 from 58.4 in the previous month, according to preliminary estimates. The HSBC India Services PMI declined to 59.4 in July 2025 from 60.4 in the previous month, preliminary readings showed. Australia ( AS51 ) fell 0.32% to around 8,730 on Thursday, halting its two-session win streak, as losses in gold miners offset gains in healthcare. The Australian dollar strengthened to above $0.661 on Thursday, extending its five-session rally to its highest level since November 2024, fueled by optimism over latest global trade developments. On the economic data front, Australian business activity expanded at its fastest rate since April 2022 in July, boosted by the first rise in manufacturing output in three months and a sharp acceleration in services. The S&P Global Flash Australia Services PMI Business Activity Index rose to 53.8 in July, up from 51.8 in June. The S&P Global Australia Manufacturing PMI rose to 51.6 in July, up from 50.6 in June, flash data showed. In the U.S., on Wednesday, all three major indexes ended higher buoyed by optimism over new trade agreements and strong corporate momentum. Attention now turns to the Fed’s policy meeting next week, where rates are widely expected to remain unchanged amid lingering uncertainty around global tariffs. U.S. stock futures were mixed on Thursday as investors digested earnings from major tech firms: Dow -0.29% ; S&P 500 +0.07% ; Nasdaq +0.29% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Trump says U.S. strikes ‘massive’ trade deal with Japan, imposes 15% tariffs Japan vows more rice imports from U.S. as part of trade deal Japanese PM Shigeru Ishiba to step down RBA holds rates steady, citing unclear inflation picture in July minutes Japan's core inflation eases to 3.3% in June, slowest pace since March

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The global financial system has seen an increasing push towards more efficient, cost-effective cross-border payment solutions, with blockchain technology often cited as a key innovation in this space. As global payment volumes continue to rise, institutions have turned to blockchain-based systems to reduce both transaction time and cost. Ripple, a US-based provider of distributed ledger technology focused on financial services, has positioned itself as a prominent figure in these developments. One of Ripple’s core strategies has been to engage financial institutions in trials and commercial implementations of its technology , aiming to reshape the current payment infrastructure. Documented Participation by Western Union A recent tweet by crypto researcher SMQKE highlighted a longstanding and verified partnership between Ripple and Western Union . Citing documentary evidence, SMQKE stated, “Yes, Western Union has already conducted advanced trials using Ripple’s technology.” The tweet reaffirms that Western Union is among several major financial institutions that have explored Ripple’s solutions beyond initial testing phases. The attached document, extracted from a professional report on blockchain payment infrastructure, corroborates this claim. It clearly states that since 2014, multiple financial institutions—including HSBC, UBS, and Western Union—have announced trials or more advanced commercialization efforts involving Ripple’s technology. This reference dispels any notion that such connections are speculative or unverified. The document also underlines Ripple’s strategic importance within the financial services sector, especially in developing alternative payment infrastructure built on blockchain. Yes, Western Union has already conducted advanced trials using Ripple’s technology. Of course it’s documented. https://t.co/nGPLBF1gCN pic.twitter.com/MLS7zYBwlB — SMQKE (@SMQKEDQG) July 22, 2025 Global Financial Institutions Collaborating with Ripple In addition to Western Union’s involvement, the same document outlines a broader pattern of institutional collaboration with Ripple. Banks such as Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac, and the Royal Bank of Canada are named as founding members of the Global Payments Steering Group (GPSG). This group was formed to establish governance frameworks and regulatory standards around the use of Ripple technology for global payments. The GPSG initiative emphasizes not only the depth of institutional commitment to Ripple’s platform but also the seriousness with which these firms view the integration of blockchain in cross-border transactions. The founding of such a governance group represents a transition from experimental testing to formalized adoption and rule-setting, further confirming the maturity of Ripple’s engagements with the traditional financial sector . We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Ongoing Public Commentary and Clarity on Ripple’s Adoption In response to SMQKE’s post, an X user, Darius Ellis, commented on the public’s reluctance to acknowledge the documented nature of Ripple’s institutional trials. He stated , “People still call it speculation while the receipts are public. Western Union, MoneyGram, IMF… the list keeps growing. Ripple isn’t testing the rails. They’re laying them.” This statement emphasizes that public records and official documentation, such as the one shared in SMQKE’s tweet, already exist and provide clear evidence of Ripple’s integration efforts. The assertion that Ripple is not merely testing but actively establishing foundational infrastructure aligns with the broader narrative observed in industry reports. With Western Union’s involvement now verified in documented form, the conversation around Ripple’s market penetration shifts further from assumption toward confirmation. This substantiates Ripple’s standing as more than a technology provider experimenting in isolated trials; it is part of a strategic effort with extensive industry buy-in. As industry observers and participants continue to evaluate the evolution of cross-border payments , documented examples such as this provide clarity and validate Ripple’s growing influence. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Western Union Already Conducted Advanced Trials with Ripple appeared first on Times Tabloid .