The Asia-Pacific Economic Cooperation (APEC) summit kicked off in San Francisco, with a highly anticipated meeting between US President Joe Biden and Chinese leader Xi Ping scheduled for November 15. While the focus of the event is on the regional economy, the finance ministers’ meeting is also of great importance. US Treasury Secretary Janet Yellen emphasized the discussion of long-term priorities, with a strong emphasis on sustainability. The meeting will cover topics such as supply-side economics and digital assets, including unbacked crypto-assets, stablecoin, and central bank digital currency. Yellen expressed interest in hearing perspectives on the role of digital assets and blockchain technologies in financial systems, as well as regulatory oversight. Despite the Biden administration’s perceived lack of enthusiasm for crypto, Asia is seen as a leader in blockchain development, with notable progress in the metaverse, crypto trading, and adoption. APEC consists of 21 economies in the Pacific region, including Asia, North America, and South America. Membership is open to economies rather than countries to accommodate Hong Kong and Taiwan. Ripple was a major sponsor of the summit.

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Information	Details
Geography	Asia
Countries	🇺🇸 🇨🇳 🇭🇰
Sentiment	neutral
Relevance Score	1
People	Xi Ping, He Lifeng, Joe Biden, Janet Yellen
Companies	APEC, United States President Joe Biden, Ripple, U.S. Treasury, Chinese leader Xi Ping
Currencies	YUSD Stablecoin, US Dollar, Bankless DAO, Chinese Yuan
Securities	None