Search results: China

Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.

China’s Zhengzhou city issued a set of policy proposals Wednesday to support metaverse companies, including a 10 billion yuan (US$1.42 billion) metaverse fund.

Analysts say the move could signal a bull run in cryptocurrencies.

China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.

Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.

China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.

China’s Jiangsu Province plans to expand the use of digital yuan to its public education system, as the province seeks to spearhead the country’s CBDC pilot.

China’s Fuzhou City on Friday unveiled a raft of policies to attract investment by blockchain-related companies, including rent subsidies and cash awards.

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China’s national blockchain research center was launched in Beijing on Wednesday and plans to train over 500,000 blockchain professionals for the country.

Cryptocurrencies in China can be legally used to settle basic relations debts such as exchange and labor, according to the Supreme People’s Court of China.

Henan Cultural Tourism Investment Group, a state-owned investment enterprise in Central China’s Henan province, has set up a 150 million yuan private equity investment fund to finance metaverse ventures.

Bitcoin and Ether rose during Asian trading hours on Thursday, while most top 10 non-stablecoin cryptocurrencies by market capitalization declined. Cardano’s ADA token saw the biggest gain.

State employees in China’s Changshu City will receive their salaries in digital yuan from May, as China’s CBDC expands in daily uses.

Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all top 10 non-stablecoin cryptocurrencies by market capitalization apart from the BNB token. Asian equities declined along with U.S. futures, amid mounting political pressure between China and the U.S. Fast facts See related article: EU green lights MICA but […]

China has fined Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, nearly US$3.6 million for alleged tax violations, according to the Beijing tax authorities.

The Binance comments came in response to a Financial Times article that cited internal documents and said the company had close ties with China despite claims it had left the country in 2017 following a government crackdown.

Binance reportedly hid ties to China for years despite claiming to have left the country following Beijing’s regulatory clampdown in 2017.

China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.

Amid the NFT hype in 2022, Chinese buyers’ complaints about NFT scams and price manipulations surged 30,000% to 59,700 from 198 in the year before.

NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.

WeChat, China’s leading social networking and payment app, has integrated the digital yuan into its payment network, which may help adoption of the CBDC.

The Chinese “Two Sessions” meetings began over the weekend, and blockchain technology could be at the forefront of Beijing’s vision for growth

Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.

China is promoting digital yuan to Hong Kong visitors, but has not received much enthusiasm so far.

NBA will partner Ant Group – Chinese tech giant Alibaba’s fintech affiliate – to issue NBA-themed NFTs and create content on Alipay.

Shenzhen is adopting blockchain technology to safeguard data ownership, as China seeks to build a regulated data economy.

What makes Web3 compelling to many is its promise to shift power from centralized players to individual users, but China is doing the opposite, writes Lily King.

Blockchain protocol Conflux Network and China’s second-largest wireless carrier China Telecom have partnered to build a “blockchain-enabled SIM card” (BSIM).

Red Date Technology, the developer of China’s state-backed blockchain infrastructure Blockchain-based Service Network, has partnered Dubai-based Singularity Innovations to offer blockchain infrastructure services in the Middle East and Africa, as the Chinese blockchain network continues to go global.

Huobi Global plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, says Justin Sun.

China has given the go-ahead to set up the National Blockchain Technology Innovation Centre in Beijing to run blockchain research and development, according to local media.

The AI chat bot party is heating up in China, with Baidu revealing its ChatGPT rival – ERNIE Bot.

China’s blanket ban on cryptocurrency trading can have the country miss critical opportunities for technological development, says former PBOC official.

Suzhou has laid out plans to attract at least 200 companies in working with VR technology by 2025.

Xiaohongshu, or “Little Red Book,” a popular social media application widely described as the Chinese equivalent of Instagram, has integrated layer-1 public blockchain Conflux Network, allowing users to showcase their non-fungible tokens on their profile pages, Conflux announced on Thursday.

Hainan province, a popular tourist destination in South China, published a notice on Sunday vowing to step up oversight on non-fungible tokens, or “digital collectibles,” which authorities said come with risks of fraud, money laundering and illegal fundraising.

Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.

Bitcoin inched up and Ether slipped in Tuesday afternoon trading in Asia, with most other top 10 cryptocurrencies trading lower on the day.

See related article: China digital currency transaction volume soars to nearly US$14B Soochow Securities, a Chinese securities firm, enabled e-CNY payments on its mobile application on Monday, marking the first use case of the central bank digital currency in securities market trade, according to state-backed finance outlet China Securities Journal. Fast facts See related article: […]

The central bank rolled out a “red packet” feature for its digital currency, the e-CNY, for the Lunar New Year holiday but it will require help from the tech giants it has bashed to popularize the digital yuan.

A Shanghai court ruled that investments in cryptocurrency-powered play-to-earn (P2E) games are not protected by law in China.

“China Digital Asset Trading Platform,” a non-fungible token (NFT) marketplace developed by state-owned entities and a private sector firm, has been set for launch on Jan. 1, 2023, state media outlet China Daily reported on Tuesday. See related article: NFTs ruled virtual property in China, its sales protected by law  Fast facts See related article: […]

The Hangzhou Internet Court has ruled that non-fungible tokens (NFT) are virtual properties protected by law, according to the court’s summary of a recent case posted on its official Wechat account on Nov. 29. See related article: China’s diktat against NFT trading spawns an ingenious industry  Fast facts See related article: Tencent’s Huanhe allows NFT […]

VPN services, a reliable tool for Chinese internet users to bypass the Great Firewall, are reporting connectivity issues in the mainland after anti-lockdown protest content flooded Twitter.

Many are minting NFTs and posting articles on Matters, a decentralized content-sharing platform, amid protests across China against Covid-19 lockdowns that turned political.

Bitcoin and Ether both rose in Wednesday morning trading in Asia, with all other non-stablecoin top 10 cryptocurrencies also gaining ground as China on Tuesday said it will relax some Covid rules in response to protests.

Pictures taken from protests against China’s zero-Covid policy across the mainland are now for sale on OpenSea, the largest NFT marketplace, as non-fungible tokens (NFT).  See related article: ‘Voice of April’ NFTs highlight Shanghai struggles amid lockdown  Fast facts See related article: Bitcoin price follows slide in Asia equity markets amid growing China protests against […]

Reports of civil disobedience, protests and clashes with the police in cities and universities in China are unnerving financial markets in Asia

China should integrate legislation on cryptocurrencies in order to better regulate crypto tradings, said Huang Hui, a deputy director of the Supervision and Inspection Department of State Administration of Foreign Exchange.

China’s state blockchain infrastructure Xinghuo Blockchain Infrastructure and Facility has signed an agreement with Malaysian digital service provider MY E.G. Services Berhad to own and operate an “international supernode,” as China continues its international blockchain push.

By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.

Hong Kong seems set to put out a new welcome mat for the blockchain and crypto industries, but will it work after concern about regulatory restrictions convinced many cryptocurrency operators to leave?

China’s central bank digital currency (CBDC) has reached 100 billion yuan (US$13.9 billion) in transactions as of Aug. 31, 2022, the People’s Bank of China said via a verified WeChat account. See related article: Digital yuan tops US$12B transactions in 2022 so far  Fast facts See related article: China to speed up, expand digital yuan […]

Companies in Shenzhen in mainland China made up one-third of the transaction volume in a cross-border central bank digital currency (CBDC) bridge pilot project, according to a report by Chinese media outlet 21Caijing, citing Shenzhen’s local financial authority. See related article: Australia Senator proposes regulating Chinese banks in country using e-CNY  Fast facts See related […]

Regulators also targeted 23 crypto media websites and 440 bloggers.

China spent billions on its ‘belt and road’ infrastructure network to expand trade so what are its plans for a domestic and international digital infrastructure built on blockchain?

Russia is planning to use its central bank digital currency (CBDC) in testing, the digital ruble, to carry out mutual settlements with China, Reuters reported on Monday, citing a senior Russian lawmaker. See related article: Is cryptocurrency a workaround for sanctions against Russia? Fast facts Anatoly Aksakov, head of the financial committee in Russia’s lower […]

Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.

Chinese police said they have busted a criminal group that used cryptocurrencies to launder 40 billion yuan (US$5.6 billion) as authorities crack down on illicit fund flows in the country. See related article: China lashes out at crypto fraud on World Consumer Rights Day Fast facts Police in Hengyang, a county in China’s southern province […]

The entirety of the provinces of Guangdong, Jiangsu, Hebei and Sichuan will be piloting the e-CNY by end 2022, says central bank official.

China’s Ministry of Industry and Information Technology (MIIT) claimed on Tuesday in a news conference that the country accounted for more than 84 percent of the world’s blockchain patent applications, despite the country’s ban on cryptocurrencies. See related article: Ant Group and Tencent obtain the most blockchain patents in China: report Fast facts See related […]

Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.

APAC is leading in crypto use and adoption, according to a new report from U.S. blockchain analysis firm Chainalysis released on Wednesday, with China returning to the report’s top 10 countries for crypto adoption after it fell out of the list last year. APAC accounted for six of the top 10 countries in the index. […]

In a decision involving Litecoin, a Chinese court says there are no rules ‘that negate the protectability of cryptocurrency itself as virtual property.’

Tighter restrictions on cryptocurrency usage in China have prompted leading storage service platform RRMine Global to close its mainland China operations and move its headquarters to Singapore. See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies Fast facts “As Singapore has been one of the world’s most open economies for a […]

China’s central bank is pushing for interconnectivity between its digital yuan and other traditional digital electronic payment tools through universal QR code payments, as the country expands the pilots for its digital currency. See related article: China to speed up, expand digital yuan smart contracts, PBOC official says Fast facts Fan Yifei, a deputy governor […]

China’s BSN pushes use of its Spartan Network – a non-crypto blockchain – outside of China.

China’s Blockchain-based Service Network wears two hats in building blockchains: one for business in China and one for everywhere else, but it doesn’t see a role for crypto in either.

Mu Changchun, head of the central bank’s digital currency institute, says the agency is developing a platform to review and register smart contracts for e-CNY, the country’s new digital currency in trial.

Nearly a year after China banned crypto trading and mining, the director of the Technology Supervision Bureau at Chinaøs Securities Regulatory Commission has published a book discussing Web 3.0 and blockchain technology. See related article: Shanghai turns to metaverse, NFTs to counter lockdown economic fallout Fast facts Yao Qian’s book “Web 3.0: Changes and Challenges […]

The National Energy Administration (NEA) will explore blockchain-based power trading platforms to facilitate electricity trading between self-contained power generation units and the state and national grids, according to a policy document released last Friday. see related article: The Bitcoin-energy connection intensifies Fast facts see related article: Here’s why Australia can’t use its empty deserts to mine […]