Hong Kong’s legislature passed a bill establishing a licensing framework for fiat-referenced stablecoin issuers. The regulation mandates that any entity issuing stablecoins in Hong Kong or backed by the Hong Kong dollar must obtain a license from the Hong Kong Monetary Authority (HKMA). The bill outlines requirements for reserve asset management, redemption procedures, and risk controls, aiming to safeguard public and investor interests.

The United Arab Emirates unveiled “Falcon Arabic,” a new Arabic language AI model developed by Abu Dhabi’s Advanced Technology Research Council (ATRC). Designed to reflect the linguistic diversity of Arabic, the model matches the performance of larger counterparts while requiring less computing power. Alongside Falcon Arabic, ATRC introduced Falcon H1, an advanced system outperforming offerings from Meta and Alibaba.

In response to European concerns about data security under the Trump administration, Google is expanding its “sovereign cloud” offerings in the EU. The initiative includes a new “data shield” for enhanced cybersecurity and partnerships with local firms like France’s Thales, ensuring that sensitive European data remains within local servers and complies with EU data privacy laws.

On May 21, 2025, Bitcoin reached a new all-time high of $109,481.83, surpassing its previous peak from January. The 2% daily gain reflects improving investor sentiment following a downturn driven by tariffs last month. Bitcoin’s performance often parallels that of tech stocks, which have also rallied, with the Nasdaq climbing 30% from early April lows. A weakening U.S. dollar has further bolstered Bitcoin’s exchange rate advantage.

The Trump administration announced it will maintain export controls on advanced AI technology to China, dismissing Nvidia CEO Jensen Huang’s calls to ease restrictions. The policy aims to prevent China from accessing cutting-edge semiconductors, despite concerns that such measures might accelerate China’s domestic tech development.

The U.S. Securities and Exchange Commission has filed a lawsuit against crypto startup Unicoin and its executives, alleging they defrauded investors of over $100 million. The company is accused of misrepresenting the value and registration status of its digital token and associated assets, including overstating property values.

On May 21, 2025, Hong Kong’s legislature passed a landmark stablecoin bill, establishing a licensing framework for fiat-referenced stablecoin issuers. Under this new regime, any entity issuing stablecoins in Hong Kong or backed by Hong Kong dollars must obtain a license from the Hong Kong Monetary Authority (HKMA). The bill outlines requirements for reserve asset management, redemption procedures, and risk controls, aiming to safeguard public and investor interests.

The United Arab Emirates (UAE) has unveiled a new Arabic language artificial intelligence (AI) model, Falcon Arabic, as competition to lead regional AI development intensifies in the Gulf. Created by Abu Dhabi’s Advanced Technology Research Council (ATRC), the model is designed to reflect the full linguistic diversity of the Arabic language using a high-quality native dataset. Notably, Falcon Arabic matches the performance of models up to ten times its size.

In response to rising concerns in Europe about potential trade tensions and data security implications under the Trump administration, Google is expanding its “sovereign cloud” offerings in the EU. These initiatives aim to ensure that sensitive European data remains within local servers and complies with EU data privacy laws. The enhancements include a new “data shield” for added cybersecurity and partnerships with local firms like French defence electronics company Thales, with similar collaborations planned for Germany.

On May 21, 2025, Bitcoin reached a new all-time high of $109,481.83, surpassing its previous peak from January. This 2% daily gain reflects improving investor sentiment following a downturn driven by tariffs last month. Bitcoin’s performance often parallels that of tech stocks, which have also rallied, with the Nasdaq climbing 30% from early April lows. A weakening U.S. dollar has further bolstered Bitcoin’s exchange rate advantage.

The Trump administration will maintain efforts to keep advanced artificial intelligence technology out of China’s hands, a top White House official said, brushing off calls from Nvidia Corp. Chief Executive Officer Jensen Huang to ease restrictions on chip exports to the world’s second largest economy.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Unicoin, a cryptocurrency startup, and its executives, alleging that they misled investors while raising over $100 million for a digital token. The SEC claims Unicoin falsely advertised its token as “SEC-compliant” and backed by real-world assets, such as land in Antigua and the Bahamas, without proper appraisals. Internal communications revealed concerns about the actual value of these assets, with one property listed at $680 million potentially worth less than $40 million. Unicoin also promoted exaggerated returns, including claims of over 9,000,000% gains. CEO Alex Konanykhin denied the allegations, calling them a “gross abuse of power.”