The Hong Kong Monetary Authority said that the Digital Currency Institute of the People's Bank of China and the Central Bank of the UAE are exploring cross-border digital currency transactions. They joined the second phase of Project Inthanon-LionRock, a central bank digital currency project for cross-border payments started by the HKMA and the Bank of Thailand. The project has been renamed "m-CBDC Bridge," or the Multiple Central Bank Digital Currency Bridge Project. The project will further explore the capabilities of distributed ledger technology by developing a proof-of-concept prototype to facilitate real-time cross-border foreign exchange payment-versus-payment transactions in a multijurisdictional context. In other news, the Securities and Futures Commission disciplined three licensed corporations and three individuals during the quarter, resulting in total fines of $2.72 billion.It also made 2,157 requests for trading and account records triggered by untoward price and turnover movements.

Source: The Standard February 23, 2021 19:07 UTC