According to Odaily, HSBC Bank (China) Co., Ltd., also known as HSBC China, has recently announced the launch of digital yuan services for its corporate clients. This makes it one of the first foreign banks to offer digital yuan services to both corporate and retail customers. The move comes amid frequent developments in the digital yuan sector and the continuous expansion of pilot applications. HSBC's expansion of services to corporations indicates that foreign banks are actively using the digital yuan to enhance customer service capabilities and boost the development of the digital economy. Since the launch of personal digital yuan services in November 2023, HSBC China has been continuously laying out in the digital yuan field. Through close cooperation with the digital yuan operating institution, Bank of China, HSBC China has expanded its services to the corporate end. It has launched digital yuan public wallet-related services for its corporate clients, who can bind the digital yuan wallet to their bank accounts for management and automatically deposit the digital yuan into their bank accounts. As the first transaction after the opening of corporate digital yuan services, HSBC has made a trial in the education field. It assisted Nord Anglia Education Group, a bilingual education group, in opening digital yuan services for its six schools in Shanghai, Beijing, Guangzhou, Jiaxing, and Suzhou. It also helped them successfully complete the first digital yuan receipt, further expanding their receipt channels and empowering the construction of smart campuses.

According to Odaily, South Korea's 'Virtual Asset User Protection Law' is set to take effect on July 19, and regulatory authorities have released guidelines on whether Non-Fungible Tokens (NFTs) are considered virtual assets. Previously, financial authorities announced through the 'Virtual Asset User Protection Law Enforcement Order' that NFTs are not considered virtual assets. This principle has been retained, but NFTs that have characteristics of virtual assets may be considered as such. Companies issuing NFTs must declare their business as a virtual asset business to the competent department. The Financial Services Commission announced the NFT guidelines containing this information on the 10th. After the implementation of the 'Virtual Asset User Protection Law', NFTs generally traded for the purpose of 'content collection' will be excluded from the scope of virtual assets. For ambiguous NFTs, the application of the law depends on the substance of the NFT, determined in the order of 'securities → virtual assets'. It is first determined whether the NFT is a security, and then its essence is determined to see if it belongs to virtual assets. Whether it belongs to virtual assets is judged according to the following criteria: 1) Large issuance or large-scale series, with high substitutability; 2) Can be divided, with significantly weakened uniqueness; 3) Direct or indirect payment method for specific goods or services; 4) Virtual asset exchanges can be conducted between unspecified persons, or payments can be made for other virtual asset-related goods or services.

The commission approved 19b-4 filings from eight asset managers in May, but they won’t begin trading on U.S. exchanges until the SEC signs off on the S-1 registration statements.

The former United States president is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign.

Mike ter Maat spoke with Cointelegraph on the role digital assets might play in the 2024 U.S. presidential elections, the Fed looking into CBDCs, and Donald Trump’s conviction.

Sandwiching occurs by placing one order before the transaction and another immediately after, which ensures that retail always gets the worst possible price.

Ripple continues to deepen its CBDC collaboration with the Republic of Georgia by exploring ways to digitize the local economy.

NFTs considered as virtual assets are eligible to receive interest when deposited to exchanges according to the FSC’s guidelines published in 2023.

Due to the rapid decline of the naira and the resulting almost three-decade-high inflation rate of 29.9%, the Nigerian government has turned its focus to platforms providing cryptocurrency services.

If Bitcoin returns to the price it had been hovering around for the previous two days before the slight dip, it would wipe out a considerable number of short positions.