HSBC firm’s China subsidiary has begun providing e-CNY services to corporate clients, the firm said. This makes HSBC the first international bank in China to provide services related to the digital currency of the central bank, offering these services to both retail and corporate clients. The People’s Bank of China
A student of Chinese Zhejiang University, Yang Qichao issued a virtual currency token BFF in 2022. After the issuance, Qichao’s uninformed liquidity withdrawal caused a crypto investor, Luo, to lose 50,000 BSC-USDT coins that he exchanged for the tokens. This pushed Luo to file a complaint with the Nanyang Public
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
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
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
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,
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
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
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
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
