The SFC said that Tencent holds the potential to execute such large scale projects.

Reports indicate that the central banks of Hong Kong and Thailand have been working on the development of a CBDC, designed to facilitate bank-to-bank monetary transfers, securities settlement, and corporate payments.

Tether snubs off all the allegations of its involvement in Bitcoin price manipulation during the 2017 bull run using USDT tokens. It calls all the allegations to be completely baseless.

China has a huge cryptocurrency and Bitcoin mining industry due to the availability of surplus and cheap hydroelectric power in regions of Xinjiang and Sichuan.

Under the new licensing procedures, crypto exchanges will have to follow strict KYC and AML procedures and other security token laws.

Huawei will be working with the central bank’s digital currency research unit on different blockchain to token-based projects taking place in the country.

The HMRC has updates rules and taxation structure for individuals and businesses involved in activities of crypto buying, selling, payments, or other transactions.

The ICE chief added that Bitcoin’s use in daily transactions of goods and purchases will help it to establish its status as a store-of-value or digital gold.

The private banking members said that while digital currency is next big revolution, the transformation should be swift and not endanger the existing monetary system.

A survey carried out by IMB and the OMFIF shows several interesting findings regarding the future of CBDCs, from the perspective of central banks.