Ant Group files ‘Antcoin’ trademark as China tightens crypto crackdown

Ant Group, the Alibaba-backed fintech giant, has registered the trademark “Antcoin” in Hong Kong via a Cayman Islands subsidiary, signaling continued interest in blockchain finance despite increased regulatory pressure from mainland China. Trademark filings confirm the application, filed on June 18, covers digital currency and blockchain services. This move comes as the People’s Bank of China and law enforcement agencies continue to crack down on cryptocurrency creation and speculation within the nation. Previously, Ant Group was reportedly planning to seek stablecoin licenses in Hong Kong and Singapore. However, recent reports suggest that mainland Chinese companies operating in Hong Kong may face pressure to withdraw from crypto activities, and both Ant Group and JD.com reportedly suspended plans for Hong Kong-based stablecoins after Beijing expressed concerns over "privately controlled" digital assets.

(Source：Cointelegraph)