HONG KONG—It was a battle of stablecoin issuers Thursday afternoon in Hong Kong, with Justin Sun, the founder of the Tron blockchain, and First Digital Trust (FDT), a Hong Kong-based fiduciary, holding press conferences over allegations of fund …

Beijing isn’t going to allow crypto exchanges to directly operate BTC in China, but there might be a way that Hong Kong crypto ETFs can be traded in the mainland.

The Hong Kong-based trials will allow for registration on a regulated stablecoin app and the purchase of tokenized financial products.