Vanuatu’s leader hopes to strengthen his country’s presence in Hong Kong as the Pacific island nation looks to tap the city’s regulatory expertise, financial markets and investment opportunities. Prime Minister Jotham Napat said on Wednesday that his country had established a “communication mechanism” during his trip to Hong Kong, to improve coordination and deepen ties…
As China prepares its digital yuan for wider domestic and cross-border use, the global debate has turned again to a familiar question: is Beijing trying to challenge the US dollar’s dominance? But this misses the more consequential point. The significance of China’s digital currency push lies not in substitution, but in the transformation of the…
Hong Kong has finalized its Basel crypto rules for banks, codifying standards in legislation while issuing non-statutory guidance that takes a more favorable approach to certain stablecoins and permissionless blockchains than the Basel Committee’s position. The territory is one of the few major jurisdictions implementing the Basel Committee for Banking Supervision (BCBS) crypto rules in…