Yuan stablecoin team arrested, WeChat’s new Bitcoin prices, HK crypto rules: Asia Express
Cointelegraph
Published Jun 01, 2023 06:57PM ET
Updated Jun 01, 2023 07:20PM ET
On May 31, local news outlet PANewsLab reported that the developers for the offshore Chinese RMB and Hong Kong dollar stablecoin issuer CNHC had allegedly lost contact or had been taken away by law enforcement officials. A photo shows what appears to be an empty office building at CNHC’s Shanghai division with the following message posted:
In March, CNHC raised $10 million in its Series A, led by KuCoin Ventures, Circle, and IDG Capital. The team said back then that it planned to use the funds for “expansion in the Asia Pacific Region” and was in the process of moving its headquarters from the Cayman Islands to Hong Kong.
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Written By: Cointelegraph
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