Tom Zuo

China Mobile, a leading telecommunication company of China, launched a metaverse alliance on Wednesday, whose members include Huawei, Xiaomi and Unity China. 

Shanghai on Wednesday released a three-year plan to build its culture and tourism metaverse.

The Shanghai Clearing House started digital yuan clearing and settlement services for trading in commodities on Monday.

Bitcoin surged over 5% on Wednesday morning in Asia to breach the US$28,000 resistance level, leading a rally of the top 10 non-stablecoin tokens except XRP.

Bitcoin rose on Tuesday morning in Asia to hold above support at US$26,000. Ether also logged gains along with most other top 10 non-stablecoin tokens.

Bitcoin dipped on Monday morning in Asia after reclaiming US$26,000 support over the weekend. Ether also fell back but held above US$1,700.

HKMA is urging lenders including HSBC, Standard Chartered and Bank of China to service crypto exchanges. Financial Times reported on Thursday.

The final story in a three-part series on Asia metaverse developments looks at China’s national strategy, which has seen dozens of cities and provinces release spending plans and training schemes to adopt this digital world in real-world industries. China’s initiatives, however, face challenges from regulation and global competition.

Jiangning, a district in China’s Nanjing city, released a metaverse plan on Saturday that includes training thousands of professionals for the industry.

AliExpress, the global online platform of China’s e-commerce giant Alibaba Group, will launch NFTs on June 25 working with NFT project “the Moment3!”.

CCTV, China’s largest national TV broadcaster, ran about a minute-long segment on Tuesday flagging SEC’s lawsuit against Binance and its founder Changpeng Zhao.

Bitcoin fell Friday morning in Asia to trade below US$27,000. Ether and most other top 10 non-stablecoin tokens traded flat to lower. Litecoin gained.

Bitcoin fell on Thursday morning in Asia to post the first monthly loss of the year. Ether and all other top 10 non-stablecoin tokens also traded lower.

Bitcoin traded flat on Wednesday morning in Asia, after briefly breaching US$28,000. Ether dipped while other top 10 non-stablecoin tokens traded mixed.

Bitcoin fell in Tuesday morning trading in Asia. Ether and most other top 10 non-stablecoin tokens also logged losses, while XRP gained.

Bitcoin couldn’t maintain its Monday morning gains as the world’s largest cryptocurrency dropped below US$28,000 in the afternoon.

Bitcoin moved back above US$28,000 on Monday morning in Asia, leading a rally among all top 10 non-stablecoin tokens. Ether reclaimed the US$1,900 level.

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.

Bitcoin prices slid under US$27,000 on Friday morning in Asia. Ether fell below support at US$1,800 as all top 10 non-stablecoin tokens retreated.

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

Bitcoin fell on Thursday morning in Asia to trade around the US$27,500 mark. Ether led the losers in the top 10 non-stablecoin cryptocurrencies.

Bitcoin edged higher on Wednesday morning in Asia to hold above the US$27,500 mark. Ether also gained. Other top 10 non-stablecoin tokens traded mixed.

Bitcoin fell below US$28,000 on Tuesday morning in Asia as memecoin hype clogged the network and drove up transaction fees. Ether and all other top 10 non-stablecoin tokens dropped.

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.

Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.

Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.

Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Bitcoin rose on Friday morning in Asia amid worries about U.S. banks and a possible recession. Ether edged lower. along with most other top 10 tokens.

Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.

Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.

Bitcoin fell below US$27,500 support on Tuesday morning in Asia. Ether and most other top 10 tokens traded lower amid a broader correction.

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 rose on Monday morning in Asia but was boxed in below US$28,000. Ether and most other top 10 tokens gained, but not by enough to erase losses for the past week.

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.

Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.

Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.

Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.

Bitcoin dipped below US$30,000 in early Monday morning trading in Asia. Ether stalled after strong gains that followed last week’s blockchain upgrade.

Bitcoin continued its rally to near the US$31,000 mark in Friday afternoon trading in Asia. All other top 10 non-stablecoin cryptos gained, led by Ethereum.

Bitcoin rose higher in the US$30,000 band on Friday morning in Asia amid strong gains among the top 10 non-stablecoin cryptocurrencies. Ether led the winners.

ZA Bank, the largest virtual bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges.

Bitcoin dipped but held above US$30,000 in Thursday morning trading in Asia that saw mixed performances among the top 10 non-stablecoin cryptocurrencies.

Bitcoin held above US$30,000 in Wednesday morning trading in Asia, while most other top 10 non-stablecoin cryptocurrencies moved higher.

Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.

Bitcoin surged above US$30,000 on Tuesday morning in Asia to the highest in about 11 months, leading a rally of all top 10 non-stablecoin cryptocurrencies.

PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.

Bitcoin dipped below US$28,000 in Thursday morning trading in Asia as most other top 10 non-stablecoin cryptocurrencies lost steam. Dogecoin led the losers.

Bitcoin dipped below US$28,000 in mixed Tuesday morning trading in Asia. Ether rose. Dogecoin surged after Elon Musk switched the Twitter icon to Dogecoin’s Shiba Inu.

Bitcoin dipped on Monday morning in Asia but held above US$28,000. Most top 10 non-stablecoin cryptos dropped following a week unsettled by regulatory woes.

Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.

Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.

Bitcoin edged above US$28,000 in Thursday morning in Asia amid a broad rally in most top 10 non-stablecoin cryptocurrencies.

Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

Bitcoin and the other top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, as investors diversify amid the ongoing banking turmoil.

Bitcoin bounced back above US$28,000 on Friday morning in Asia amid a rebound in all top 10 non-stablecoin cryptocurrencies and gains in equities overnight.

Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.

The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.

Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.

Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.

Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.

Bitcoin neared the US$25,000 mark on Friday morning in Asia. Cryptocurrencies gained as the U.S. and Europe moved to backstop troubled banks with cash.

Bitcoin and Ether dropped in Thursday morning trading in Asia along with most other leading tokens amid broader concerns about bank liquidity.

Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.