In a significant development for the cryptocurrency industry, the Monetary Authority of Hong Kong (HKMA) and the UAE Central Bank (CBUAE) have joined hands to foster cooperation and establish regulatory frameworks. The two entities met on May 30, 2023; the meeting signified the announcement of their intent to collaborate on matters related to digital asset regulations, knowledge sharing and fintech initiatives.
Recognizing the importance of market connectivity and financial infrastructure, both central banks expressed their commitment to strengthening ties between their jurisdictions. H.E. Khaled Mohamed Balama, the governor of CBUAE, emphasized the potential for a long-term relationship with the…
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