Hong Kong stablecoin stocks slump after PBOC vows cryptocurrency crackdown

Hong Kong stablecoin stocks slump after PBOC vows cryptocurrency crackdown

SHANGHAI, Dec 1 (Reuters) – Hong Kong-listed stocks with businesses related to stablecoins tumbled on Monday, after China’s central bank vowed to crack down on virtual currencies and flagged stablecoin concerns. Yunfeng Financial Group slumped nearly 10%, Bright Smart Securities and Commodities Group dropped roughly 7% and OSL Group lost more than 4%. The People’s Bank of China (PBOC) reaffirmed

Source: https://www.msn.com/en-us/money/other/hong-kong-stablecoin-stocks-slump-after-pboc-vows-cryptocurrency-crackdown/ar-AA1Rsfzy?ocid



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