China, UAE to Jointly Address Cryptocurrency-Enabled Crimes and Foster Economic Ties

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China and the United Arab Emirates issued a joint statement this year strengthening cross-border collaboration. Key areas of focus included regulating cryptocurrency activities that could enable telecom fraud, online gambling and other illegal behaviors.

Both countries underscored commitments to fight financial crimes like money laundering, human trafficking and drug trafficking which sometimes flow through digital assets. This coordinated effort tackles challenges at international borders in the emerging technology space.

The statement also emphasized bolstering bilateral trade and investment ties. Through their Joint Economic and Trade Committee China and UAE will promote legitmate commerce, smooth investment processes and develop tourism partnerships.

The latest announcement signals the two powers determination to curb crypto misuse while supporting economic relations. With illicit flows increasingly going digital coordinated oversight of crypto and traditional finance becomes ever more important. The joint statement outlines initiatives to balance innovation with security across both countries.

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