The framework is expected to allow China and Thailand to carry out international trade in the Chinese yuan or the Thai baht rather than the U.S. dollar.
Most of U.K. digital asset firms were shut down for promoting a Ponzi scheme, while a top financial regulator told digital asset firms to help clean up markets and fight money-laundering problems.
Adafsa calls block reward mining on farms a misuse of land, threatening a hefty penalty for those involved in the activity and a possibility of jail time.
The HKMA chief executive says the central bank is still determining whether there is a real need for a retail CBDC, adding that existing systems in Hong Kong are efficient.
Thailand joins Hong Kong and the United States in approving BTC ETFs this year, with the Thai SEC giving the green light to offer them only to wealthy investors.
The Hong Kong Monetary Authority has promised to issue the new guidelines in the coming weeks but clarified that they will not be binding laws for users and will not be exhaustive.
At a recent World Economic Forum event, central bankers from Bahrain and Saudi Arabia discussed CBDC opportunities, from cross-border payments to interest rate moderation.
As APAC countries navigate the complex landscape of stablecoin regulations, industry stakeholders must tread carefully, balancing innovation and compliance in the market.
The International Monetary Fund has recommended that Nigeria impose registration or licensing requirements on global digital asset trading platforms, following its 2024 Article IV consultation with Nigeria.
A seamless cross-border atomic settlement is within arms' reach as Project mBridge enters the MVP stage, showcasing the possibilities of CBDCs and tokenization in creating real-world use cases.
In the "Conclusion of Discussion Paper on Crypto-assets and Stablecoins," HKMA confirmed that it received 58 submissions, urging it to adopt a "risk-based approach" towards regulating stablecoins.
Switzerland has been a neutral haven for hundreds of years, and with AI, it chooses to retain this approach, allowing the industry to develop at its own pace.
