“The recent developments surrounding the JPEX cryptocurrency platform scandal in Hong Kong are raising concerns of fraud. With 18 arrests and projections of more to come, the incidents have the potential to impact the wider acceptance of blockchain. Yet, experts consider these events may lead to a safer and more robust digital assets environment.”
Search Results for: Macao
Digital Yuan: China’s Leap Into Blockchain Salary Payments and Its Global Implications
A growing number of Chinese companies are switching to digital yuan for salary payments. The Zhongkai High-tech Industrial Development Zone, in partnership with the ICBC, has become the first city company to pay its employees, including CCP officials, in digital yuan. This initiative encourages digital yuan adoption and broadens its application in the public sector, helping to tackle the longstanding US dollar dominance.
Exploring CBDC Potential in China’s Greater Bay Area: Transforming Commerce & Cross-Border Trade
This joint white paper by Standard Chartered and PwC China explores the potential applications of central bank digital currencies (CBDCs) in China’s Greater Bay Area, highlighting advantages like streamlined supply chains, invoice settlements, and loyalty programs. CBDCs could transform commerce and enhance Know Your Customer processes, but widespread adoption requires collaboration and adaptation.
UAE and Hong Kong Join Forces: Crypto Regulations and Future of Virtual Assets
The UAE and Hong Kong are collaborating to enhance their regulatory frameworks in the virtual asset sector, focusing on financial infrastructure, market connectivity, and cryptocurrency regulations. A joint working group aims to facilitate effective implementation of regulatory measures for crypto businesses, promoting knowledge-sharing and fintech development initiatives to foster sector growth.