Search results for Asian Development Bank
Crypto
Japan ruling party proposes crypto ETFs, yen stablecoins to target Asian payment hub
Japan\'s ruling Liberal Democratic Party has moved to promote policies to legalise cryptocurrency exchange-traded funds and expand yen-denominated stablecoins. A party panel submitted a proposal to Finance Minister Satsuki Katayama on May 31. The plan aims to recognise crypto ETFs as regulated investment products and develop yen stablecoins as a payment gateway for Asia. The proposal cites the dominance of dollar-pegged stablecoins and points to domestic pilots and legislation steps under way.
AI & Enterprise
South Korea declares \'global AI hub\' vision with nine international organisations
South Korea announced a \'Global AI Hub\' vision with nine major international organisations and released a joint statement on May 21. The initiative aims to use artificial intelligence to address shared global challenges including climate crisis, health, food and refugees. The government held a launch event in Seoul with the organisations and five multilateral development banks. Participants plan working groups, phased implementation plans and ongoing communication channels.
Finance
BOK deputy governor says time to consider rate hike as inflation faces strong pressure
Yoo Sang-dae (유상대), deputy governor of the Bank of Korea, publicly raised the possibility of a rate hike, saying it is time to consider stopping cuts and increasing rates. Speaking in Samarkand on May 3, he said growth has fallen less than feared since the Middle East war, while inflation has risen more than expected. He said inflation faces significant upward pressure and the possibility of a signal at the May 28 meeting remains open.
