Search Results for “China” – Page 127

Digital yuan transactions surge, reach $11.24B last year

The numbers are in: digital yuan’s historical transactions reached 87.565 billion yuan (US$11.238 billion) as of the end of 2021, the People’s Bank of China (PBOC) announced on Tuesday. Fast facts
Animoca Brands valued at US$5B after latest fundraise

Hong Kong-based Animoca Brands announced a US$358,888,888 capital raise Tuesday that values the blockchain gaming and open metaverse company at US$5 billion. Fast facts The round was led by New York-based Liberty City Ventures, with more than 18 other investors around the world, including Kingsway Capital, Sequoia China, Smile Group, Soros Fund Management and Winklevoss…
As Binance shrinks away in Asia, will it put down roots in the Middle East?

Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.
Pakistan agency wants to block crypto portals, report says

Pakistan’s top investigation agency is looking to block crypto websites over fraud and money laundering concerns, according to a news report, less than a week after the country’s central bank recommended an outright ban on cryptocurrencies. Fast facts Federal Investigation Agency (FIA) Director-General Dr. Sanaullah Abbasi said on Saturday the agency would approach the Pakistan…
Top Chinese university launches on Baidu’s metaverse

A major university in China has become the country’s first academic institution to join the metaverse, after it reproduced its physical campus as a virtual university on Baidu’s XiRang platform. Fast facts The Communication University of China announced last week that the digital campus had hosted an anniversary celebration and awards ceremony on Dec. 26,…
Wuhan pledges to develop metaverse to boost Covid-ravaged economy

Wuhan, the major city in central China where Covid-19 first emerged, has announced plans to embrace the metaverse in an effort to boost its pandemic-devasted economy. Fast facts The government of Wuhan, the capital city of Hubei province, will push ahead with integrating the metaverse, blockchain, big data, cloud computing, geospatial information and quantum technology…
Chinese university warns against Norton’s Ethereum mining function

Xiamen University of southeast China is warning its staff and students to not use Norton 360 antivirus software for its Ether mining function, citing the nation’s crypto mining ban policy. Fast facts
Fed nominee looks to Congress for guidance on US digital dollar

The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to…
$1.5 billion worth of digital yuan transacted in Beijing last year

Residents in Beijing recorded 9.6 billion yuan (US$1.5 billion) worth of digital yuan transactions in 2021, after several rounds of coupon-driven promotions, according to state media, citing official data. Fast facts
Hong Kong outlines stablecoin regulation plan to check financial stability risks

Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.