JANUARY 2021 | International Law Alerts | Cryptocurrency / E-Commerce

In China, a drab gray Mao suit was once the required attire for men and women. No longer. The country is poised to become the largest luxury apparel market worldwide by 2025. With a 2020 population of 1.4 billion and a flourishing middle class with an appetite for foreign luxury goods, China is dominating ecommerce.

Nobody could have predicted the ecommerce climate in 2020. But the Digital Commerce 360 staff thinks the past year’s events lend themselves to some forecasting as 2021 takes shape.

Social media’s impact on global ecommerce revenue varies depending on the platform.

Globe Fintech Innovations Inc. (Mynt), the company behind digital financial services provider GCash, will be worth almost $1 billion after raising more money to support its expansion.

Retailers must invest in digital transformation but be aware of digital risks. And identifying diverse talent must be a priority.

The global pandemic has profoundly changed how we interact with online channels, and the 2020 holiday season was no different, with many records broken.

Covid-19 forced all of us to change. Companies and employees who had resisted digital innovation suddenly had no choice. Some of the changes have created value and are worth keeping. Others not so much.

MANILA, Philippines — The movement of cryptocurrencies will now be subject to the central bank’s rules on financial service providers to guard against the potential use of so-called virtual assets in laundering money, according to the country’s top monetary regulator.