Press Releases TheBitTimes.com

On Nov. 9, the Laos government announced it would halt business activities, levy fines and potentially revoke licenses of companies that do not meet their commitments or show progress in cryptocurrency mining and trading agreements in what is considered an inactive status. At the same time, outstanding fees from crypto operators owed to the state reached a U.S. equivalent of $20 million, according to Laos Prime Minister Sonexay Siphandone. A lack of progress During the proceedings of the sixth ordinary session of the National Assembly’s ninth legislature, Siphandone acknowledged a lack of progress from the two companies. The delay in fee payments to the state was attributed to the sluggishness of certain entities, while numerous investors demonstrated noteworthy advancements, contributing significantly to the state budget. The PM also acknowledged that payments were likely to be slow due to the value of crypto currencies, specifically Bitcoin, dropping in value by more than 50% c

HKMA Collaboration With Saudi Arabia Central Bank During a meeting in the capital Riyadh, the central bank of Saudi Arabia and the central bank of Hong Kong discussed collaboration in many key areas including financial infrastructure development, open market operations, market connectivity, and sustainable development. advertisement Eddie Yue, Chief Executive of the HKMA, said: “The MoU, in particular, will further enhance mutual cooperation as well as exchange of information and expertise between the SAMA and the HKMA in financial innovation and Fintech. We look forward to working with the SAMA to promote investment and financial market connectivity between the Middle East and Asia.” The MoU was signed by the Governor of the SAMA Ayman Alsayari and the Chief Executive of the HKMA Eddie Yue to improve research and innovation in areas such as supervision technologies (Suptech), tokenization, and payment infrastructure. Recommended Articles