Sun, December 22

Chinese State Workers Convert Digital Yuan to Cash Amid Adoption Challenges

Reportedly certain state Chinese workers who are paid in “e-CNY” or digital yuan hardly use it and have been changing it to physical cash, implying that China’s digital currency initiative is still in its early stages and has significant challenges. Some Chinese localities have started paying state personnel in the

May 13, 2024 1 min read

China Turns Bullish on Crypto? Plans to Bring Regulations

China appears to be embracing the digital asset revolution, signaling a major shift in its stance on cryptocurrencies. Despite a strict crypto trading ban in 2021 that led to a market shack, the country is now expressing a newfound commitment to the development of the crypto industry. The Ministry of

December 23, 2023 2 mins read

China Tightens Grip on In-Game Tokens with Stringent Regulations

A draft describing substantial changes to the regulation of in-game tokens within the online gaming sector was recently issued by the General Administration of Press and Publication of China (GAPP). The country’s attitude to digital currency in gaming has undergone a strategic shift with this decision. Game tokens cannot be

December 23, 2023 2 mins read

Chinese Telecom Operator Unveils NFT Marketplace ‘LinkNFT’

On December 15, China Mobile, the biggest telecom operator in China, made a major announcement by unveiling LinkNFT, a free NFT marketplace. The major goal is to facilitate the launch of a new digital economy and society by giving the people of Hong Kong simple access to the Web3.0 Internet,

December 16, 2023 2 mins read

China All Set to Launch Blockchain-based Identity Verification System

Data privacy activists are sure to be concerned with the news that the Blockchain-based Service Network (BSN), China’s national-level blockchain program, would employ blockchain technology to validate the real-name identities of the country’s 1.4 billion inhabitants. The RealDID concept was supported by BSN and was driven by China’s Ministry of

December 13, 2023 1 min read

Standard Chartered Joins China’s e-CNY Pilot Initiative

An announcement was made by Standard Chartered that it would be taking part in the e-CNY CBDC pilot program, which is China’s digital currency. This makes the bank pioneering in its involvement with China’s emerging digital currency scene, among other pioneering international financial institutions. A variety of digital yuan-related services

November 27, 2023 1 min read

China Imposes Criminal Penalties for Theft of Digital Collections

The government of China issued a statement on November 10 stating that those caught stealing digital collections, including non-fungible tokens (NFTs), will face criminal penalties. It provides three different perspectives on whether or not the theft of digital collections is a data theft, digital property theft, or both. Nonetheless, the

November 10, 2023 2 mins read

Tether Holds $72.5 Billion in US Treasury Surpassing Major Countries

Tether, the stablecoin provider, has revealed that it holds $72.5 billion in US Treasury bonds, surpassing the United Arab Emirates, Mexico, Australia, and Spain. Moreover, Tether became the 22nd largest holder in the world. With this, Tether marks a significant milestone in the crypto market. While @Tether_to reached 72.5B exposure

September 5, 2023 2 mins read

Justin Sun Tweets: Chinese Court Considers Crypto as Legal Property

The crypto market has experienced significant growth and massive development over the years. Every country around the world has started adopting and creating a crypto-friendly environment for people. On the other hand, Justin Sun, the founder of Tron, disclosed that in China, cryptocurrencies are protected by law and are regarded

September 1, 2023 2 mins read

China Unveils Blockchain-Powered Data Exchange at Hangzhou Summit

Officials from the Chinese government introduced a new blockchain-based data exchange during the 2023 Hangzhou Summit in Hangzhou, China. More than 300 companies took part in the launch of the exchange. According to articles published on August 23 by local news outlets in Hangzhou, the city’s newest data exchange will

August 24, 2023 1 min read