https://www.scmp.com/rss/521771/feed Tether, a leading entity in the cryptocurrency sector, primarily issues dominant stablecoins like USD₮, pegged to the US dollar, and other fiat currencies. Incorporated in the British Virgin Islands, the company is relocating its headquarters to El Salvador, establishing its first physical base there. Tether serves a broad target market including exchanges, financial services, and individuals, with a growing focus on emerging markets and institutional clients. Renowned for its market-leading... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Jean Tirole Jean Tirole The fascination with cryptocurrencies shows no sign of fading. With the passage of the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act in July, US lawmakers added to the sense that crypto is here to stay. But an uncomfortable issue remains unresolved: are cryptocurrencies a genuine innovation capable of serving the common good, or a speculative threat to financial and social stability? Not all cryptocurrencies are alike. Unbacked ones, such as bitcoin or Ethereum,... https://www.scmp.com/opinion/world-opinion/article/3337375/harness-crypto-ingenuity-financial-threat-must-first-be-neutralised?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3337375/harness-crypto-ingenuity-financial-threat-must-first-be-neutralised?utm_source=rss_feed Fri, 26 Dec 2025 12:30:08 +0000 Coco Feng Coco Feng The United Arab Emirates (UAE) is rapidly cementing its position as a global leader in the digital asset sector on the back of its regulatory infrastructure and the institutional adoption of cryptocurrencies, according to industry insiders at the fourth edition of Abu Dhabi Finance Week (ADFW). Speaking at ADFW, the largest financial and investment gathering in the Middle East and North Africa, Binance co-CEO Richard Teng said the UAE had been at the industry’s forefront, as capital city Abu... https://www.scmp.com/tech/blockchain/article/3336083/coins-sand-how-uae-draws-global-crypto-community?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3336083/coins-sand-how-uae-draws-global-crypto-community?utm_source=rss_feed Fri, 12 Dec 2025 01:00:25 +0000 Anthony Rowley Anthony Rowley Amid all the artificial intelligence-induced euphoria – or irrational exuberance – in stock markets and despite the unease caused by rising bond yields and falling prices, relatively little attention has been paid to the rising price of gold. The implications have potentially seismic monetary significance. Those who do see fit to comment on gold’s dramatic price increase this year – passing US$4,000 an ounce for the first time on Wednesday – tend to brush it off as a reaction to a falling US... https://www.scmp.com/opinion/world-opinion/article/3328419/amid-rising-volatility-new-gold-standard-may-be-closer-we-think?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3328419/amid-rising-volatility-new-gold-standard-may-be-closer-we-think?utm_source=rss_feed Sat, 11 Oct 2025 08:30:08 +0000 Zhou Xin Zhou Xin The United States is expanding its influence over the US$4 trillion global cryptocurrency industry amid favourable regulation under the Trump administration and the growing use of US dollar-backed stablecoins, according to participants at this year’s Token2049 event in Singapore. The US is on a path to becoming the world’s “crypto capital”, said Bo Hines, the former executive director of the White House’s Council of Advisers on Digital Assets, at a fireside chat on Thursday to conclude the... https://www.scmp.com/tech/blockchain/article/3327662/us-takes-drivers-seat-crypto-industry-back-trump-policy-stablecoin-frenzy?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3327662/us-takes-drivers-seat-crypto-industry-back-trump-policy-stablecoin-frenzy?utm_source=rss_feed Thu, 02 Oct 2025 12:00:08 +0000 Bloomberg Bloomberg Tether Holdings, issuer of the world’s largest stablecoin, is in talks with investors to raise as much as US$20 billion, a deal that could propel the cryptocurrency firm into the highest ranks of the world’s most valuable private companies. The El Salvador-based company is seeking between US$15 billion and US$20 billion in exchange for a roughly 3 per cent stake through a private placement, according to two people familiar with the matter. Another person involved in the process cautioned that... https://www.scmp.com/tech/blockchain/article/3326680/stablecoin-giant-tether-seeks-funding-us500-billion-valuation?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3326680/stablecoin-giant-tether-seeks-funding-us500-billion-valuation?utm_source=rss_feed Wed, 24 Sep 2025 08:52:41 +0000 Anthony Rowley Anthony Rowley At a time when cryptocurrencies are being promoted aggressively by none other than US President Donald Trump, among others, it is significant that the price of gold is leaping to record highs nearly every day. It is arguably even more significant that one leading cryptocurrency group, Tether, is investing heavily in gold, the same metal that cryptocurrency aspires to replace and which economist John Maynard Keynes once described as a “barbarous relic”. These developments are symptomatic of... https://www.scmp.com/opinion/world-opinion/article/3325295/crypto-vs-gold-struggle-new-battle-lines-are-being-drawn?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3325295/crypto-vs-gold-struggle-new-battle-lines-are-being-drawn?utm_source=rss_feed Sat, 13 Sep 2025 08:30:09 +0000 Jiaying Jiang Jiaying Jiang Last month, the United States passed the Genius Act, a landmark piece of legislation that finally brings stablecoin – a cryptocurrency asset pegged to the US dollar – under a federal regulatory framework. While this may seem like a domestic achievement, the global implications are far-reaching, particularly for jurisdictions in Asia, including Hong Kong and mainland China. The Genius Act is more than just cryptocurrency regulation; it represents a digital extension of US financial influence. By... https://www.scmp.com/opinion/hong-kong-opinion/article/3320502/hong-kong-can-lead-charge-yuan-alternative-us-stablecoin?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3320502/hong-kong-can-lead-charge-yuan-alternative-us-stablecoin?utm_source=rss_feed Tue, 05 Aug 2025 01:30:08 +0000 Aileen Chuang Aileen Chuang The worldwide financial system needs to rewrite its rules for a future of tokens, as the rise of stablecoins poses new challenges to the global infrastructure for instant payment, clearing and settlement, according to the gatekeeper of the world’s central banks. Stablecoins, which are digital tokens backed by fiat currencies or other reserve assets, could make anti-money-laundering (AML) work and banks’ task of knowing their customers more difficult because of their cross-border, pseudonymous... https://www.scmp.com/business/banking-finance/article/3318718/global-financial-system-must-rewrite-its-rules-tokenised-future-says-bis-adviser?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3318718/global-financial-system-must-rewrite-its-rules-tokenised-future-says-bis-adviser?utm_source=rss_feed Sat, 19 Jul 2025 00:30:09 +0000 Mandy Zuo Mandy Zuo A financial dilemma has sent local-level financial authorities across China scrambling as they try to navigate a stablecoin frenzy that some say has become a breeding ground for chaos, with scams that have already duped millions. As a result, several local governments have elevated stablecoins to the top of their agendas in recent weeks while issuing urgent warnings to investors about illegal fundraising and fraudulent schemes. With this in mind, the nation’s top financial authorities remain... https://www.scmp.com/economy/china-economy/article/3318158/stablecoin-scams-innovation-put-chinas-financial-regulators-high-stakes-balancing-act?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3318158/stablecoin-scams-innovation-put-chinas-financial-regulators-high-stakes-balancing-act?utm_source=rss_feed Mon, 14 Jul 2025 14:00:08 +0000 Bloomberg Bloomberg The scam began with a message, then a friendly exchange. A stranger directed the victim to a cryptocurrency investment site that appeared professional – slick design, charts, even customer support. The first deposit showed a modest profit. So did the next. Encouraged, the victim sent more, even borrowing money to keep up. Then, without warning, the platform stopped responding. The account balance disappeared. “That’s how they do it,” Jamie Lam, an investigative analyst with the US Secret... https://www.scmp.com/news/world/united-states-canada/article/3317133/secret-service-known-protecting-us-presidents-now-hunts-cryptocurrency-scammers?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3317133/secret-service-known-protecting-us-presidents-now-hunts-cryptocurrency-scammers?utm_source=rss_feed Sun, 06 Jul 2025 07:20:49 +0000 Hannah Wang Hannah Wang A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to... https://www.scmp.com/tech/blockchain/article/3316683/chinese-digital-yuan-partner-signs-deal-hong-kong-firm-develop-stablecoin-tech?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3316683/chinese-digital-yuan-partner-signs-deal-hong-kong-firm-develop-stablecoin-tech?utm_source=rss_feed Wed, 02 Jul 2025 23:00:09 +0000