China, Oman advance CBDC; Vietnam, Ukraine progress crypto rules

Homepage > News > Business > China, Oman advance CBDC; Vietnam, Ukraine progress crypto rules TL;DR: Developments in the digital asset space never stop, particularly at the state and legislative level, with governments and lawmakers continuing to juggle the dual impulses to both rein in and harness the $4 trillion sector. China and Oman combine forces on a multi-billion-dollar currency swap deal that includes deeper cooperation on CBDC, an area in which China has more experience than most. Meanwhile, in the regulatory sphere, Vietnam introduced stringent new rules in the face of record-breaking crypto hacks and the impending launch of its first domestic digital asset exchange, just as Ukraine edged closer to passing a comprehensive regulatory regime, despite the country’s central bank still needing to be convinced by the current draft. Key Takeaways: China and Oman agreed on a five-year currency swap worth 30 billion yuan (about $4.49 billion), as well as signed an agreement to cooperate on digital payments and CBDC. Vietnam is tightening crypto oversight after the Binance hack, requiring exchanges to report tech incidents within 24 hours and submit custody data weekly. Uk...