September 7, 2023 By Anjali Kochhar In exciting news, the Bank of China and the e-commerce giant Meituan have teamed up to make the digital yuan even more accessible. What’s the digital yuan, you ask? It’s China’s own digital currency, and these two big players want to make it even better. They’ve signed an agreement, […]

September 7, 2023 By Sharan Kaur Phillora In a recent address to the 2023 China International Smart Industry Expo, Chinese President Xi Jinping accentuated the transformative effects of emerging technologies—including the internet, big data, cloud computing, artificial intelligence (AI), and blockchain—on global industries and individual lifestyles. Here’s what we know:  Xi’s comments, cited in a

September 6, 2023 By Anjali Kochhar In a groundbreaking judgment, the Shanghai High People’s Court has officially classified Bitcoin as virtual property protected by Chinese law. This decision is a significant development in the legal status of cryptocurrencies in China. The ruling came as part of a case involving a Bitcoin loan agreement filed in 2020.

September 6, 2023 By Sharan Kaur Phillora The London Stock Exchange Group (LSEG) has announced its intention to launch a groundbreaking blockchain-powered digital markets business, signaling a significant step toward leveraging cryptocurrency technology for enhancing the trading of conventional financial assets. Here’s what we know: According to an LSEG spokesperson, the company aims to construct

September 5, 2023 By Anjali Kochhar The United Kingdom is implementing new rules to enhance the reporting of cryptocurrency transactions. These rules, part of the International Financial Action Task Force (FATF) Recommendation 16, are designed to combat money laundering in the crypto space. Here’s what you need to know： Under the FATF’s Recommendation 16, both virtual

September 5, 2023 By Sharan Kaur Phillora Switzerland-based financial services firm SEBA Bank has received an approval-in-principle (AIP) for a license to provide digital asset services in Hong Kong. The approval comes from the Hong Kong Securities and Futures Commission (SFC), signifying a major stride towards SEBA Bank’s aspirations to penetrate the rapidly evolving digital asset market

September 4, 2023 By Anjali Kochhar There are no free lunches even in the world of banking and finance. With the advent of the digital revolution, the world talks about decentralized financing eliminating the need to be regulated by a central authority and intermediaries, thereby establishing a direct link between parties involved in the transaction and

September 4, 2023 By Sharan Kaur Phillora In a swift response to China’s new AI legislation, four prominent tech companies have introduced their own AI-powered chatbots to the public. On August 30, Baidu, Baichuan Intelligent Technology, SenseTime, and Zhipu AI released their chatbot applications after obtaining the green light from Chinese authorities. Here’s what we know:

September 1, 2023 By Anjali Kochhar In a significant legal triumph, Grayscale Investments has emerged victorious in its lawsuit against the United States Securities and Exchange Commission (SEC), potentially paving the way for the conversion of its Grayscale Bitcoin Trust (GBTC) into a publicly traded exchange-traded fund (ETF). The recent ruling by the appeals court

September 1, 2023 By Anjali Kochaar In a groundbreaking development, X, formerly known as Twitter, has successfully secured the Rhode Island Currency Transmission License, a significant milestone that paves the way for the integration of crypto trading services on its platform. With this move, X stands to introduce over 400 million users worldwide to the