Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui said that over 80 virtual asset-related businesses had expressed interest in establishing their presence in the city as of the end of February. Hui added that 23 crypto businesses have already indicated they “plan to establish their presence in Hong Kong.” In a March…
China’s Hengyang County Public Security Bureau arrested 93 suspects involved in laundering 40 billion RMB via cryptocurrencies, local media reported on Sept. 25. According to the report, the criminal group was involved in more than 300 cases of fraud and had been operating since 2018. Authorities in the county started investigations after the director of…
A senior Chinese central bank official, Mu Changchun, said the country will respect digital yuan users’ privacy and protect their personal information, Reuters reported on July 25. According to Changchun, the digital yuan has a limited anonymity feature that allows for reasonable anonymous transactions. He said using the digital yuan “prevents and combats illegal activities…
On March 31, 2022, the People’s Bank of China held a symposium on the pilot work of digital RMB (digital yuan) research and development to summarize the preliminary research and development pilot work, and arrange the deployment of the next stage of work. Present at the symposium were Yi Gang, Governor of the People’s Bank…
Banking executive Hiromi Yamaoka believes that the conflict in Ukraine could influence central bank digital currencies (CBDCs) policy globally. The former head of payments and settlements department at the Bank of Japan sees countries such as China exploring CBDCs to counter the dominance of US dollars. China, others could explore CBDC to counter US Dollar…