March 2022
Chinese telecom giant ZTE snaps up metaverse-related trademarks
Chinese telecommunications equipment maker ZTE has successfully registered a number of metaverse-related English trademarks. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts ZTE’s trademarks fall under the scientific equipment and communication services categories, setting the stage for the firm to provide related services in the metaverse. The partially state-owned Chinese […]
Fusang defers IPO; Yuga Labs hits $4bn valuation
Malaysia’s Fusang defers their IPO. Meanwhile, Blockchain Week Australia looks into intellectual property rights.
Echoes of El Salvador as Malaysian minister calls for crypto adoption
Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.
BSN, China Mobile support local NFTs with new chain launch
China’s state-backed Blockchain-based Service Network (BSN) has announced the addition of “Zhong Yi Chain,” developed by telecommunications giant China Mobile, to its open permissioned blockchain ecosystem to bolster the growth of home-grown non-fungible tokens (NFTs). See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The new chain serves […]
How an 11-year-old programmer created his own NFT minter
Inspired by the success of Beeple, Miguel Wang created CryptoTigers to generate pixelated tiger images for the Year of the Tiger.
More courts in China accept blockchain-stored evidence
Sichuan and Inner Mongolia are two regions that recently announced their first cases using blockchain-stored evidence, local media reports. See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts See related article: Court in China says trading in cryptocurrency ‘not protected by law’
Russian bank given crypto license: China to monitor outflows
As the conflict between Russia and Ukraine rages on and sanctions continue to mount, Russia-based bank Sberbank obtains a crypto license from the Central Bank of Russia. Meanwhile in China, social media platform Weibo allows its users to mint NFTs of their social media posts.
What US Fed’s interest rate hike means for China and its CBDC
Capital control limiting outflows may be less of an issue in the future with e-CNY being a ‘controllable currency,’ experts say.
Weibo launches NFT marketplace, allowing users to mint posts
Weibo, a social media platform known as the Chinese equivalent of Twitter with 249 million daily active users, launched its non-fungible token (NFT) marketplace TopHolder on Thursday, allowing users to mint their original posts into NFTs and sell them. See related article: Zuckerberg confirms NFTs coming to Instagram Fast facts Users will need to pass […]
Ukraine legalizes crypto; Korea’s crypto policy ideas
Ukrainian President signs a digital assets bill into law. Meanwhile in China, Cannan plans to buy back shares.
Canaan to buy back up to $100M shares to drive value
Chinese crypto mining rig maker Canaan announced Wednesday its plans to buy back up to US$100 million worth of shares over the next two years. See related article: Chinese mining rig maker Canaan secures purchase order from Genesis for 30K units Fast facts The Nasdaq-listed company’s latest move comes after it completed its previous US$20 […]
China highlights crypto crimes; Kazakh miners busted
Chinese authorities cracked down on crypto related crimes on Consumer Rights Day. Meanwhile in Kazakhstan, the former President’s brother was busted for illegal crypto mining operations.
China lashes out at crypto fraud on World Consumer Rights Day
No more Burger King, Nike and Muji. This year’s annual focus on marketplace abuse names and shames crypto scams.
BSN partners with INDUSTRIA, eyes UK market
China’s Blockchain-based Service Network (BSN) has announced a partnership with U.K. tech firm INDUSTRIA, as the state-backed blockchain infrastructure looks to make a foray into the European market. See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The partnership marks BSN’s first attempt to enter the U.K. and […]
Singapore imposes sanctions; Bitcoin bucks market trend
Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.
Chinese video streamer MangoTV NFT sells out in seconds
MangoTV, a Chinese video streaming platform with 50.4 million subscribers, launched its non-fungible token (NFT) marketplace on Monday, as its first batch of collectibles sold out within seconds since opening. See related article: China plans crackdown on illegal fundraising in metaverse, NFTs Fast facts MangoTV is owned by the state-backed Hunan Broadcasting System and is the […]
US bill targets e-CNY; Russian sanctions hurting public
Blockchain data analysis platform Chainalysis has launched a set of free sanction screening tools. Meanwhile, lawmakers in the US take aim at China’s digital yuan, or e-CNY, while Russian sanctions begin to highlight issues with financial sovereignty as hundreds of thousands of Russian and Ukrainian civilians are caught in the financial crossfire.
Hangzhou company claims city will likely win digital yuan pilot bid
An anonymous company based in Hangzhou told state media that it has signed deals with major commercial banks to facilitate the digital yuan, hinting China’s southeastern city could be a winning bidder for an upcoming batch of digital yuan pilot programs. See related article: PBOC branch chief seeks clarity on digital yuan as legal tender […]
US senators sound alarm over China’s digital yuan, Russia SWIFT sanctions
Nine U.S. senators are backing a bill that aims to crack down on China’s central bank digital currency (CBDC), the e-CNY or digital yuan, which they claim could allow Russia to bypass financial sanctions imposed on its banks and entities. See related article: Digital yuan pilot attracts Chinese province bordering Russia Fast facts “If left […]
Third Chinese tech giant Baidu to open NFT marketplace
Baidu is airdropping over 20,000 non-fungible tokens (NFTs) of nostalgic Chinese cartoon characters ahead of its upcoming marketplace launch by the end of March. See related article: Tencent calls dibs on metaverse virtual concerts in patent application Fast facts See related article: Alibaba NFT marketplace suspends users for massage gun rapid clicks
Russia faces crypto freeze as exchanges toe line on sanctions
Top blockchain and crypto news: Moscow faces crypto winter. DeFi doyen quits Fantom. China mulls metaverse moves.
Alibaba NFT marketplace suspends users for massage gun rapid clicks
Alibaba’s non-fungible token (NFT) marketplace Jingtan issued one-year suspensions to more than 680 accounts for using computer programs and massage guns to make instant purchases as soon as items hit the market. See related article: Ant Group’s NFT arm punishes users for digital collectible resales Fast facts See related article: Why Asia is poised to […]
China busts crypto mining rigs disguised as EV charging ports
Local authorities have seized 1,106 mining rigs from two cities in China’s southeastern province of Guangdong. See related article: China customs seizes 49 second-hand crypto mining rigs for export Fast facts The Guangdong Provincial Development and Reform Commission announced on Tuesday that it had uncovered a mining farm in Guangzhou disguised as electric vehicle (EV) […]
China plans crackdown on illegal fundraising in metaverse, NFTs
China Supreme People’s Procuratorate warned of “severe punishment” for financial crimes such as illegal fundraising and money laundering in a work report released on Tuesday. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts China’s highest procuratorate has taken note of rising financial crimes deemed illegal fundraising, disguised as metaverse, non-fungible […]
China discusses the metaverse; Blockchain community comes together
As China’s Two Session’s meetings begin, ‘Metaverse’ enters the Chinese government’s radar. And while the invasion of Ukraine continues, Singapore announces new sanctions on Russia.
‘Metaverse’ enters government radar at China’s Two Sessions
Regulation is urgently needed to govern data security and curb speculation as the metaverse industry develops, delegates say.
China’s Two Sessions: what to expect for blockchain
Look for progress reports on e-CNY, blockchain technology, new digital infrastructure, and subtle mentions of the international sanctions against Russia.
Tencent calls dibs on metaverse virtual concerts in patent application
Chinese tech giant Tencent is applying for a virtual concerts patent, as conglomerates race for the first-mover advantage in the metaverse industry, business tracker Qichacha’s data shows. See related article: 16,000 metaverse trademark applications filed, unlikely to pass in China Fast facts The Shenzhen-based social and gaming giant’s patent application involves a computing approach and […]
Bitcoin shores up Ukraine fighters amid Moscow’s money meltdown
Top blockchain and crypto news: Digital currency battling Russian invasion. Ethereum remains NFT projects’ chain of choice. China to lock up crypto traders.
February 2022
Crypto traders in China may serve over 10 years in prison
China’s Supreme Court specified cryptocurrency trading as a means of illegal fundraising in its latest judicial interpretation of criminal law released on Thursday, the first time in the country’s history. See related article: Court in China says trading in cryptocurrency ‘not protected by law’ Fast facts A judicial interpretation is the Supreme People’s Court’s official […]
Russian attack hits crypto: MUFG to close blockchain venture
The crypto market tanks after Russian President Vladimir Putin announces a military operation in Ukraine. Meanwhile, Japan’s biggest financial group closes it’s blockchain payment venture.
Bitcoin miners unwelcome in Hangzhou despite targeted energy hike
A new electricity rate hike for crypto miners in China’s southeastern province Zhejiang is a penalty, not a green light, province capital Hangzhou authorities said, the China Times reported on Wednesday. See related article: China’s Zhejiang province busts dozens of state-owned entities for mining crypto Fast facts Zhejiang Province announced this month that it would […]
BSN to integrate CasperLabs’ chain to support NFT issuance in China
CasperLabs, a smart contracts protocol, is set to power part of China’s state-backed non-fungible token (NFT) network, to support the legal issuance of NFTs in mainland China. See related article: BSN to integrate Neo’s chain to bolster NFT issuance in China Fast facts The Blockchain-based Service Network (BSN) will add Casper Network-powered Fuzhou Chain to […]
Crypto losses not protected in China; India’s bitcoin premium
Chinese court reiterates its stance that the law cannot cover crypto losses. Meanwhile, Indian investors are paying double the South Korean kimchi premium.
Russia retreats from crypto ban as it pushes rules for industry
Moscow moves to regulate crypto. OpenSea’s security struggle. Will China cool its metaverse mania?
Digital yuan pilot attracts Chinese province bordering Russia
Heilongjiang province in northeastern China has joined the bid to compete with 10 other cities to become the next digital yuan pilot city, it announced on Monday. See related article: E-CNY chief says digital dollar poses no threat to China Fast facts See related article: Hong Kong makes apt testbed for e-CNY cross-border use
China courts improve evidence collection through blockchain
China’s legal system is looking into blockchain technology to improve its online smart court system and enhance information sharing and evidence submission. See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts China’s supreme court released on Tuesday a set of rules allowing courts to verify and recognize evidence submitted through […]
Alibaba to reward NFTs in its first blockchain game
Alibaba is rewarding non-fungible tokens (NFTs) on its first blockchain game Ant Adventure, which can be played through the Alipay mobile application, one of China’s leading mobile payment providers. See related article: Ant Group’s NFT arm punishes users for digital collectible resales Fast facts Ant Adventure is powered by Alibaba’s blockchain AntChain, and takes users […]
Law can’t cover crypto losses, China court reiterates
The high court of China’s southeastern Guangdong province has ruled cryptocurrency investment activities are not protected by law, further clarifying that crypto is not a legitimate currency in the mainland. See related article: China customs seizes 49 second-hand crypto mining rigs for export Fast facts The Guangdong high court on Tuesday listed a crypto-related virtual […]
Axie Infinity breaks $4BN; China’s brewing metaverse frenzy
Axie Infinity breaks $4BN mark. Meanwhile, China’s brewing metaverse frenzy sees over 16,000 trademark applications.
China customs seizes 49 second-hand crypto mining rigs for export
Dongguan customs in China’s southeast seized 49 second-hand Ant miners declared “shoe material” for export, at least the third seizure in February, state media reported on Monday. See related article: Kazakhstan busts 13 illegal Bitcoin mining farms amid power concerns Fast facts See related article: China to ‘outdate’ crypto mining industry with more restrictions
Ant Group’s NFT arm punishes users for digital collectible resales
Jingtan, Alibaba affiliate Ant Group’s non-fungible token (NFT) platform, has placed limitations on at least 56 accounts for participating in the resale of digital collectibles, after various collections surged in popularity in online second-hand markets. See related article: CCTV NFTs hit resale market before transfer permitted Fast facts Jingtan, developed by AntChain, said it has […]
16,000 metaverse trademark applications filed, unlikely to pass in China
China’s National Intellectual Property Administration (CNIPA) said on Monday that 16,000 trademarks containing the word “metaverse” have been filed. See related article: Why the metaverse is a trillion dollar opportunity Fast facts CNIPA opposed the high number of filings, vowing to crack down on “malicious registrations” of trademarks, such as piggybacking on the rising popularity […]
Korea’s KB embraces crypto; China’s NFT fever
NFTs hit resale market in China despite criticism over speculation. Meanwhile, South Korean financial giant plans crypto funds.
CCTV NFTs hit resale market before transfer permitted
Non-fungible tokens (NFTs), or digital collectibles, issued by China Central Television (CCTV), the nation’s largest state-owned broadcast media, are appearing in China’s largest online second-hand market for at least 10 times the original price in a pre-sale bid, even before trade embargoes on the assets have lifted. See related article: China’s mouthpiece newspaper is giving […]
Buyers snap up Olympics panda NFTs
Animoca Brand’s nWayPlay sold out second batch of Bing Dwen Dwen mascot NFTs on Thursday as prices of first set fetched 900% in average resale value.
Corporate social credit gets stamped on blockchain in China’s southeast
Foshan city of China’s southeastern province Guangdong launched a blockchain-based corporate social credit system with an automated credit rating function, state-backed media reported on Thursday. Fast facts See related article: Beijing budgets $37M for government affairs blockchain platform Foshan’s blockchain-based corporate social credit system rates enterprises into four credit levels using data from various sources. […]
Hong Kong makes apt testbed for e-CNY cross-border use
The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.
GBA among approved regions for China’s blockchain-powered data hubs
The Chinese State Council approved on Wednesday a plan to build computing and data hubs that use blockchain technology to secure data in four regions including the Greater Bay Area (GBA). Fast facts See related article: China writes blockchain and digital currency into nation’s future The four hubs are set to join four more approved […]
NEO gets price bump after NFT integration on BSN
The price of NEO climbed by 6.2% over the last 24 hours to US$25.13 on Thursday morning Asia time, following China-based Neo’s Tuesday announcement of its Jiuquan Chain’s integration to China’s state-backed blockchain network. See related article: BSN to integrate Neo’s chain to bolster NFT issuance in China Fast facts NEO hit a daily high […]
State-backed newspaper is giving out NFTs amid unclear regulation
A new NFT gallery owned by the People’s Daily online arm is airdropping this week its first batch of “digital collectibles” minted on Tencent’s blockchain since the gallery’s opening last January. Fast facts Digital collectibles is a phrase now commonly used by Chinese companies to avoid the term “NFT” since Chinese state media began denouncing […]
BSN to integrate Neo’s chain to bolster NFT issuance in China
China’s state-backed Blockchain-based Service Network (BSN) announced the addition of Neo’s Jiuquan Chain to its open permissioned blockchain ecosystem to support the legal issuance of non-fungible tokens (NFTs) in the mainland. Fast facts Jiuquan Chain, powered by China-based Neo, will run as one of the 10 BSN open permissioned blockchains, as part of the BSN […]
Genshin Impact developer launches HoYoverse, teases metaverse
Popular video game Genshin Impact developer miHoYo announced on Monday the launch of HoYoverse for its global expansion while hinting its entry into the metaverse race. Fast facts The China-based game developer wants to provide a virtual world with a “high level of freedom and immersion,” miHoYo CEO Haoyu Cai said in a statement. MiHoYo […]
Bitcoin hashrate reaches new ATH in 32% surge
Bitcoin’s hashrate reached an all-time high over the weekend, despite many miners being forced to move operations out of Kazakhstan. Fast facts The total Bitcoin hashrate surged by 31.7% to an all-time high of 248.11 exahashes per second in raw values on Saturday, according to data from Blockchain.com. The latest hashrate read at 209.63 EH/s […]
Bandai Namco plans IP metaverse; Russia’s crypto flip
Japanese gaming giant Bandai Namco plans on a metaverse with their IP meanwhile, Russia does a crypto flip.
E-CNY chief says digital dollar poses no threat to China
China does not expect significant impact on its monetary system if the digital dollar were introduced, said Mu Changchun, director-general of the People’s Bank of China Digital Currency Initiative on Wednesday. He spoke at a panel organized by the Atlantic Council think tank to support the release of the International Monetary Fund’s report on central […]
UN approves NFT standards proposed by Tencent, Ant Group: report
The United Nations specialized agency for telecommunications standardization, ITU-T, has approved a non-fungible token (NFT) technical framework proposed by Chinese tech giants including Tencent Holdings and Ant Group, state-owned media reported. Fast facts The framework, which introduces an NFT standard, proposes technical and security requirements for digital collectibles on the blockchain. The international standards approved […]
AssangeDAO strikes crypto gold
WikiLeaks founder’s legal defense fundraising bonanza. Shiba Inu’s big new leap. NFT fever rises in China.
Bithumb goes for Olympic gold; India crypto tax questions
South Korean crypto exchange Bithumb goes for Olympic gold, meanwhile in India clouds cast over crypto tax questions
China state-backed paper’s NFTs surge in price on second-hand market
“Digital collectibles” issued by Shanghai Securities News are trading at least 13 times their original price on China’s largest second-hand trading platform, despite state media’s criticism of the non-fungible token (NFT) frenzy. Fast facts In China, the phrase “digital collectibles” is often used to avoid references to NFTs. The collectibles are now available on the […]
January 2022
Five questions about the digital yuan at the Winter Olympics
All eyes will be on Beijing for the upcoming games — will China use the spotlight to officially launch its CBDC?
Hong Kong to pilot international trade settlement for mBridge this year
Hong Kong’s central bank digital currency (CBDC) project with three other central banks and the Bank of International Settlements (BIS) will enter its pilot stage this year to test international trade settlements, a Hong Kong government official said. Fast facts Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said on Wednesday the […]
Kakao’s Klaytn latest to join China’s BSN International
Klaytn, a public blockchain platform under South Korean internet giant Kakao, has joined China’s Blockchain-based Service Network’s (BSN) international infrastructure. Fast facts Klaytn’s joins fellow public blockchains Ethereum, Solana, Tezos and Polkadot in BSN International, to become accessible to the 25,000 developers in the ecosystem. The BSN is a Chinese state-backed project that is split […]
Crypto mining’s Great Migration continues — out of Kazakhstan
Political chaos and power shortages are causing miners to flee a nation that only recently became the world’s second-largest Bitcoin producer.
Crypto market suffers mauling as bears go berserk
Top blockchain and crypto news: Market chills make investors shiver. Hacking storm at OpenSea. Has Beijing tamed NFTs?
People’s Daily online launches NFT gallery
People.cn, the online arm of the Communist Party of China’s party newspaper People’s Daily, launched a “digital collectibles” NFT gallery on Tuesday and hinted that it might launch artwork trading, even though authorities in the past have criticized the non-fungible token (NFT) market for its hype and speculative behavior by investors. Fast facts “Digital collectibles” […]
Zhejiang urges its cities to host the next digital yuan pilots
China’s Zhejiang wants six of its cities to compete for the next digital yuan pilots, which may open the door for the eastern coastal province to showcase the central bank digital currency (CBDC) during the September Asian Games. Fast facts
China’s BSN names eight partners for its non-crypto NFT platform
China’s state-backed blockchain network disclosed eight platform partners today in line with the soft launch of its non-fungible token (NFT) platform, the BSN-DDC network. Fast facts The auction house Rong Bao Zhai, Hainan International Culture and Artworks Exchange Center — an essential part of China’s free trade port — and EY Blockchain are among the […]
Korea to survey crypto assets; China hunts for CBDC talent
Korea will include virtual assets in its financial survey, while China’s central bank hunts for CBDC talents.
Guangzhou will advance digital yuan, blockchain pilots in 2022
Guangdong Province’s 2022 Government Report says its capital city Guangzhou will become a digital yuan testbed and a blockchain innovation application pilot center in 2022. Fast facts Guangzhou applied to become a new digital yuan pilot city in September 2021. Guangzhou is one of the major cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). […]
Hyundai Card VP says crypto passing tulip stage; Asia’s NFT shift
South Korean company Hyundai Card’s VP says crypto passing through the “tulip stage”, meanwhile NFT is shifting towards Asia.
BIT Mining’s Ohio site power capacity grows amid US expansion
BIT Mining’s Ohio mining site has achieved about 50 megawatts of power capacity in the midst of its U.S. expansion, the crypto miner announced on Tuesday. Fast facts BIT Mining’s Ohio data center will continue scaling for a planned capacity of up to 150 MW. The site currently conducts self-mining operations while hosting third-party miners. […]