{"id":31802,"date":"2024-06-03T07:48:30","date_gmt":"2024-06-03T07:48:30","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/uae-and-china-strengthen-anti-crypto-fraud-measures\/"},"modified":"2024-06-03T07:48:30","modified_gmt":"2024-06-03T07:48:30","slug":"uae-and-china-strengthen-anti-crypto-fraud-measures","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/uae-and-china-strengthen-anti-crypto-fraud-measures\/","title":{"rendered":"UAE and China Strengthen Anti-Crypto Fraud Measures"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
\n<\/p>\n

\n

Following UAE President Mohammed bin Zayed Al Nahyan\u2019s state visit to China, both nations have pledged to intensify their efforts against crypto-related fraud. The announcement, made on May 30, highlights the increasing concern over the rise in crypto fraud incidents, particularly in Hong Kong.<\/p>\n

The joint statement emphasized the shared determination to tackle telecommunications network fraud and online gambling, both of which often involve cryptocurrency exploitation. This collaborative approach underscores a commitment to curb illegal activities linked to digital currencies.<\/p>\n

Broader Security and Financial Collaboration<\/h2>\n

Beyond cybercrime, the UAE and China also committed to combating money laundering, human trafficking, drug trafficking, and illegal immigration. This comprehensive effort aims to address all forms of illicit financial flows, including those involving cryptocurrencies.<\/p>\n

While the statement did not detail specific crypto regulations, it pointed to a coordinated strategy to prevent the misuse of crypto technologies. This approach aligns with broader efforts to ensure financial security and stability.<\/p>\n

In addition to security measures, the statement highlighted the importance of supporting bilateral trade and investment. The UAE and China agreed to enhance trade, facilitate investment, and develop tourism through the Joint Economic and Trade Committee.<\/p>\n

\n
\n
\n
\n
\n
250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n

New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

A significant aspect of the collaboration is the focus on central bank digital currencies (CBDCs). The UAE and China are committed to deepening cooperation on CBDCs under their existing Memorandum of Understanding. Notably, China praised the UAE for completing the first direct cross-border CBDC transaction using the \u201cDigital Dirham\u201d on the \u201cMultilateral Central Bank Digital Currency Bridge (mBridge)\u201d platform, valued at 50 million dirhams. This milestone paves the way for new opportunities in trade and investment.<\/p>\n

Hong Kong is actively involved in CBDC<\/a> development with projects like MBridge and e-HKD. The Hong Kong Monetary Authority (HKMA), in collaboration with the central banks of China, Thailand, and the UAE, aims to launch MBridge by mid-2024. This project could provide an alternative to Swift\u2019s payment infrastructure, potentially transforming global payment systems.<\/p>\n

The e-HKD project also demonstrates various use cases for digital currency, including payments, deposits, and investments. These initiatives reflect Hong Kong\u2019s pivotal role in advancing CBDC technology and integration.<\/p>\n<\/p><\/div>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Crypto News – iGaming.org ) Following UAE President Mohammed bin Zayed Al Nahyan\u2019s state visit to China, both nations have pledged to intensify their efforts against crypto-related fraud. The announcement, made on May 30, highlights the increasing concern over the rise in crypto fraud incidents, particularly in Hong Kong. The joint […]<\/p>\n","protected":false},"author":34,"featured_media":31803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31802"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31802"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31803"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}