What is interesting is the “anti-China” approach the tech firms have taken as they attempt to resist calls for more stringent regulation. Silicon Valley firms are arguing that this could lead to “Chinese tech giants getting more powerful.” Why?
MyFintechWeek, the flagship Malaysian fintech event, kicked off this Monday, with digital banking, cross border payments, and sustainability the main areas of focus this year. The second day of the virtual conference started with the keynote speech of Tobias Adrian, Financial Counsellor and Director at the Monetary and Capital Markets Department of the International Monetary Fund.
“Bitcoin is like the first plane built by the Wright Brothers. They built it using human intuition and imitation of birds, long before fluid dynamics were formulated. Bitcoin was built by Satoshi using intuition and heuristics, and he didn’t start with a theoretical framework as the foundation.”
Trump famously accused China of manipulating its currency to gain an undue advantage when trading with its’ partners. We covered the story of problems between the U.S. and China in our story about Hong Kong in June last year.
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