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The Monetary Authority of Singapore (MAS) has notified several providers of digital payment services that they will be licensed to operate in the city-state. The move, which comes after the approval of a crypto exchange for a license, secures Singapore’s status as Asia’s crypto hub, industry observers say. Digital Payment Service Providers to Be Authorized … Read more
Binance is yet to announce an official date for imposing restrictions on derivatives products for Hong Kong users. Go to Source Powered by WPeMatico
The official Portuguese shop of Chinese electronics giant Xiaomi has partnered with Utrust to unlock payments in five cryptocurrencies. Go to Source Powered by WPeMatico
China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities attributing the rise to the popularity of crypto investments. Chinese Crime-Related Crypto Transactions … Read more
Bitcoin’s hashrate recovery, steady peer-to-peer markets and the steady volume exhibited by Asia-based exchanges suggest that China’s attempt to ban BTC was ineffective. Go to Source Powered by WPeMatico
Mohamed El-Erian, an adviser to Allianz and Gramercy Funds Management, says that “The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless financial speculation.” Western Governments Urged to Stop Ignoring Crypto Revolution Mohamed El-Erian, president of Queens College, Cambridge University, has urged … Read more
Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. US Fed’s Lael Brainard Can’t Wrap Head … Read more
Why is China forsaking cryptocurrencies at the same time that legacy U.S. banks, long wary of crypto, appear to be discovering its virtues? Go to Source Powered by WPeMatico
The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan … Read more
The famous economist has warned that western nations risk losing out to China in the emerging digital economy if they continue to be dismissive of crypto. Go to Source Powered by WPeMatico