Taiwan has recently elevated its digital banking sector’s status by granting its first virtual banking licenses to three consortiums, headed by Japanese and Taiwanese investors. The move was a natural progression for Taiwan as it seeks to follow in the footsteps of other Asian markets which are also issuing such licenses.

Read more: Taiwan accords virtual banking licenses to three new consortiums

As governments around the world struggle to come to terms with the initial banning of Huawei products by US President Donald Trump and the whiplash of his subsequent decision to lift it, Malaysia has taken a firm stance by choosing not to rush blindly into judgment, preferring to approach the subject of 5G cybersecurity in a liberal manner instead of pandering to the West’s seemingly baseless accusations towards the Chinese telecommunications colossus.

Read more: Malaysia takes a liberal stance to 5G cybersecurity

The fifth court hearing for Meng Wanzhou's case took place in Canada on May 8. Huawei issued a statement regarding this hearing in which it reveals three new and important disclosures that the lawyers for Ms. Meng made in court. From the outset, Huawei has expressed confidence in Ms. Meng’s innocence. “We have maintained that her U.S.-ordered arrest was an unlawful abuse of process – one guided by political considerations and tactics, not by the rule of law.”

Read more: New developments in the extradition case of Meng Wanzhou, Huawei CFO

The European Union and Japan finalized common rules to protect personal information, and launched what they called the “world's largest areas of safe data flows”. Firms can transfer data now that the executive European Commission finds that Japanese law offers “a comparable level of protection of personal data,” the commission said.

Read more: Data flows between the EU and Japan are now ‘safe’

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