Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BITCOIN NEWS»China, UAE pledge to combat telecom fraud and online gambling
BITCOIN NEWS

China, UAE pledge to combat telecom fraud and online gambling

By Crypto FlexsJune 3, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
China, UAE pledge to combat telecom fraud and online gambling
Share
Facebook Twitter LinkedIn Pinterest Email

In a move that signals global change, China and the United Arab Emirates (UAE) have formed a strategic alliance to combat cybercrime related to cryptocurrency.

Joint Effort Against Cryptocurrency Crime

The partnership comes amid a surge in cryptocurrency fraud activity in Hong Kong and highlights the growing need for international cooperation in the digital finance west.

The agreement, outlined in a joint statement after UAE President Mohammed bin Zayed Al Nahyan’s visit to China, targets specific areas such as telecom fraud and online gambling.

This joint effort goes beyond cryptocurrency crime, with both countries pledging to crack down on money laundering, human trafficking, and other illicit activities that could exploit digital assets.

The statement does not detail specific cryptocurrency regulations, but suggests a coordinated approach to prevent misuse of these technologies. This could lay the foundation for a global framework for cryptocurrency governance.

But the alliance does not focus solely on security issues. This paper highlights the potential of central bank digital currencies (CBDCs) to revolutionize cross-border trade and investments. The two countries plan to deepen cooperation on CBDC development based on the signed memorandum of understanding.

Bitcoin is currently trading at $68,943. Chart: TradingView

UAE pioneer cross-border CBDC

The UAE’s pioneering role in completing the first cross-border CBDC transaction using the mBridge platform has not gone unnoticed. This groundbreaking 50 million dirham transfer represents a potential game changer, providing an alternative to the dominant Swift payment system. Experts believe this could lead to a future with fragmented regional payment networks.

These developments are in line with ongoing projects by the Hong Kong Monetary Authority (HKMA). The mBridge and e-HKD initiatives demonstrate the growing global interest in CBDCs.

The mBridge project, expected to launch by mid-2024, could provide a faster, cheaper alternative for cross-border transactions and could potentially impact traditional financial institutions.

The China-UAE alliance marks a significant step forward towards a more regulated and secure cryptocurrency environment. Their collaboration on CBDC points to a future where digital currencies play a central role in international finance.

As the digital asset ecosystem evolves, this partnership can serve as a model for a future where innovation and security coexist.

Featured image from TechCentral, chart from TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Expect what XRP ETF is approved by the SEC

September 9, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025
Add A Comment

Comments are closed.

Recent Posts

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025
Most Popular

Magic Eden aims to solve NFT fragmentation with its new wallet.

January 27, 2024

Bitfinex partners with Torogoz Dev to fund Bitcoin and Lightning developer training.

December 20, 2023

Magic Eden will be expanding its diamond rewards program to ETH NFT holders in March.

February 23, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.