China expands CBDC’s tentacles, Malaysia is HK’s new crypto rival: Asia Categorical

On July 4, Xinhua Information Company, China’s state broadcaster, revealed a transcript of President Xi Jinping’s tackle to the Shanghai Cooperation Organisation Summit (SCO). The SCO is among the world’s largest regional organizations for political, financial and safety cooperation, and was established by China and Russia in 2001.

Through the speech, President Xi welcomed Iran as a full organisation member, and praised the transfer for Belarus to hitch. He additionally talked up the significance of central financial institution digital currencies (CBDCs):

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