Fri, March 29

China’s CBDC Introduces Red Packet Feature for the Lunar New Year 2023

It is typical for every country to celebrate their own traditional new year in the year. Similarly, Chinese celebrate “Lunar New Year” in their country. The Chinese have a tradition of giving money as gifts to their friends and family members called, “Red packets”. Basically in China, it is popularly

December 28, 2022 2 mins read

China’s Zhejiang Province to Develop $28.7B Metaverse Industry by 2025

Zhejiang, a Chinese coastal province, to become one of the largest metaverse hubs in the country. According to a recent Chinese report, Zhejiang is eyeing to build a metaverse industry in its territory. The project is estimated to cost more than $28.7 billion by the year 2025.  The latest move

December 20, 2022 1 min read

AliPay Integrates Digital Yuan For Instant Payments Boosting Adoption

AliPay has integrated the Digital Yuan to enable instant payments across all of Alibaba Group Holding’s e-commerce platforms, including Taobao and Tmall, in an effort to promote China’s digital currency, e-CNY. The Ant Group operates AliPay, the dominant digital payment system in China. Tuesday, December 13th was the formal announcement

December 13, 2022 1 min read

Chinese Officials Unearth $1.7B Money Laundering in Crypto

Chinese police in the Mongolian city of Tonglio have reported the arrest of 63 persons. For their role in a $1.7 billion cryptocurrency money laundering scheme that used the Tether stablecoin. According to the official statement released by law enforcement. The probe was initiated when a local bank saw a

December 13, 2022 1 min read

Transactions in Chinese Digital Currency Exceed 100 Billion Yuan

The central bank stated that 360 million transactions were involved in the outlay. 5.6 million businesses across 15 provinces and municipalities now accept digital Yuan. The People’s Bank of China (PBOC) said on Wednesday that the number of transactions conducted using China’s central bank digital currency (CBDC) had surpassed 100

October 15, 2022 1 min read

China Accounts For 84% of All Blockchain Patent Applications

President Xi Jinping has helped spread the word about blockchain technology. A timeline for when these patent applications were submitted was not included in the data. The most recent statistics released by a Chinese government official show that 84% of all blockchain patent applications are submitted by China. However, China

September 25, 2022 1 min read

Chinese Court Rules Crypto as Virtual Property Protected by Law

Wenjie is entitled to the protections accorded to the owner of virtual property. In its ruling on cryptocurrencies, the court said that although LTC is a “network currency.” According to a recent report, a Chinese intermediate court reiterated a lower court’s decision that litecoin is a virtual property protected by

September 17, 2022 1 min read

China Cracks Down on Digital Media Piracy Including NFTs

NFTs are an integral part of China’s strategy to combat copyright infringement and internet piracy. The East Asian nation has seen a rise in the amount of piracy committed online, particularly in the form of NFTs made from pirated digital content. In response, the Chinese government has launched a new

September 9, 2022 1 min read

China Cracks Down on Crypto-Related Activities on Internet

Cyberspace Administration has taken down more than 12,000 social media profiles. As a result of the interactions with 500 or more websites, 105 of them were shut down. When other countries looked to be jumping on the crypto bandwagon, China made a decision to completely outlaw it. The nation ruthlessly

August 9, 2022 2 mins read

Tech Giant Tencent Reportedly Shutting Down ‘Huanhe’ NFT Platform

The platform’s commercial potential is reported to have been harmed by prohibitions. It was built by Tencent’s Platform and Content Group (PCG). According to a report by Chinese news agency Jiemian, cited by the South China Morning Post, Shenzhen-based technology company Tencent is ready to shut down its NFT platform

July 23, 2022 2 mins read