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The central banks of Hong Kong and the United Arab Emirates (UAE) are working together to align their financial sectors and collaborate on cryptocurrency regulations and fintech development.HKMA chief executive Eddie Yue (fifth right) and CBUAE governor H.E. Khaled Mohamed Balama (fifth left) pictured with Hong Kong and UAE bank executives. Source: <a href="https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/05/20230530-5/" rel="noopener noreferrer nofollow">HKMA</a>On May 30, the Hong Kong Monetary Authority (HKMA) announced that it had a meeting with the Central Bank of the United Arab Emirates (CBUAE) to enhance cooperation in virtual asset regulations and developments.The central banks also agreed to facilitate discussions on joint fintech initiatives and knowledge-sharing efforts through their respective innovation hubs.During the meeting, the financial infrastructure and market connectivity between the two jurisdictions were highlighted as important topics of discussion. CBUAE governor H.E. Khaled Mohamed Balama expressed his expectation for an ongoing and long-term relationship with the HKMA.According to HKMA chief executive Eddie Yue, the relationship between the two jurisdictions will bring economic benefits as they possess many complementary strengths and mutual interests. After the meeting, the central banks organized a seminar for senior executives from banks in Hong Kong and the UAE.During the seminar, several topics were discussed, including ways to enhance cross-border trade settlement and how <a href="https://cryptosheadlines.com/1172-2/" rel="noopener noreferrer nofollow">UAE</a> corporations can utilize Hong Kong’s financial infrastructure platforms to access Asian and mainland markets. <a href="https://cryptosheadlines.com/hong-kong-and-uae-central-banks-partner-for-crypto-rules-and-fintech-development/" rel="noopener noreferrer nofollow">Read More...</a>Join Cryptos Headlines Community: <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">https://linktr.ee/cryptosheadlines.com</a>

Hong Kong and UAE Central Banks Partner for Crypto Rules and Fintech Development

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