China
China: The World's Largest Crypto Ban and Most Advanced CBDC
China's September 2021 total cryptocurrency ban and its e-CNY (Digital Yuan) — the world's most advanced major-economy CBDC — represent the starkest possible contrast between restricting private crypto and promoting state digital currency.
Digital Yuan (e-CNY)
China's central bank digital currency, the world's most advanced retail CBDC deployment, issued by the People's Bank of China and operated through a two-tier commercial distribution model.
Financial Sovereignty and Tokenization: How Countries Use Regulation to Control Capital
Financial sovereignty — a state's control over monetary policy, capital flows, and payment systems — is directly challenged by borderless crypto assets and cross-border tokenized securities. Regulation is the primary tool states use to assert control.
Hong Kong: Asia's Riskiest Regulatory Bet on Becoming a Crypto Hub
Hong Kong's digital asset policy — VATP licensing, ASPIRe Roadmap, Stablecoin Ordinance, and the geopolitical complexity of building a crypto hub under Chinese sovereignty.