The world is witnessing a thrilling digital currency race, with major powers vying for dominance. China and the US are at the forefront of this technological revolution, each with distinct strategies to shape the Future Of Finance.While these clashes of economic power are in progress, the legal implications are never considered. Some of the incumbents don’t even have a National Blockchain Framework in placed or designed, or the need of modifications / adjustments may even affect the country’s Constitution and the need to redesigned or create new legal Frameworks.
While these clashes of economic power are in progress, the legal implications are never considered. Some of the incumbents don’t even have a National Blockchain Framework in placed or designed, or the need of modifications / adjustments may even affect the country’s Constitution and the need to redesigned or create new legal Frameworks. This is where the Global Academy of Law-Tech Education and Research-GALTER and its group of international specialized members and law tech research centers around the world can help bind all the legal implications to make them work together oiling the national and international transactions flows.
China’s recent legalization of Cryptocurrency Ownership marks a significant shift in its stance on Digital Assets. This move, following previous crackdowns, could have farreaching implications for the global crypto market. While China’s primary focus remains on its own digital currency, the Digital Yuan, this newfound openness to cryptocurrencies suggests a broader acceptance of the technology’s. The digital yuan, a central bank digital currency (CBDC) issued by the People’s Bank of China , aims to challenge the US dollar’s long-standing dominance as the world’s reserve currency. By digitizing its currency, China seeks to enhance its global financial influence and potentially bypass the traditional banking system.
The US, recognizing the potential threat posed by China’s digital currency ambitions, is actively exploring its own strategies. One such approach involves the promotion of Stable coins, cryptocurrencies pegged to the US dollar and the new Bitcoin Reserve. By leveraging its financial might and technological prowess, the US aims to maintain its position as a global financial hub and safeguard its currency’s dominance.
Beyond the US-China rivalry, other nations are also entering the digital currency race. The UK, for instance, is poised to introduce new regulations for cryptocurrencies in 2025. This regulatory clarity could attract crypto businesses to the UK, positioning the country as a global Crypto Hub. The Stakes Are High.
The outcome of this Global Digital Currency race has profound implications for the future of finance and law. The country that successfully develops and implements a robust Digital Currency system could gain a significant competitive advantage. This could lead to increased Economic Growth, enhanced Financial Inclusion, and greater Geopolitical Influence.
As the Digital Age unfolds, the battle for financial supremacy is intensifying. The stakes are high, and the world watches with anticipation as nations race to shape the future of money. While these clashes of economic power are in progress, the legal implications are never considered. Some of the incumbents don’t even have a National Blockchain Framework in placed or designed, or the need of modifications / adjustments may even affect the country’s Constitution and the need to redesign or create new legal Frameworks.
May be this will end-up in a new web3 flow of goods and services, which definitely will require the GALTER’s specialized international law tech knowledge to allow win-win operations throughout the world.
While some of the countries are waiting, GALTER is acting, partnering with governments eager to receive support and guidance to help them better prepare for whatever is coming.
It is my privilege to be team member of this Global Academy -THE GALTER.
Alejandro MandujanoMexico
GBA Member of Board of Directors,
Member GALTER
Global Academy of Law-Tech Education & Research: Vol. 1, Issue 8 -10, March-May, 2025
