beijing – DIGIT INFO

China proposes to bring its social credit system to the metaverse: Report

DIGIT — Mon, 21 Aug 2023 07:05:07 +0000

Proposals to a United Nations group reportedly show China wants digital IDs and real-world punishments for actions that occur in the Metaverse.

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From Beijing to Tokyo, Asian nations get active in crypto regulation: Law Decoded, May 22–29

DIGIT — Mon, 29 May 2023 19:30:00 +0000

Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures to trace cryptocurrency transactions from June 1.

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Beijing releases white paper for web3 innovation and development

DIGIT — Sun, 28 May 2023 06:54:53 +0000

Hong Kong’s crypto regulations coinciding with the white paper released in Beijing pique interest.

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China Pushes Digital Yuan for Wage Payments in Changshu

DIGIT — Tue, 25 Apr 2023 10:00:03 +0000

Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included in some limited programs before. Public Employees in […]

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Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

DIGIT — Wed, 19 Apr 2023 22:20:03 +0000

In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto […]

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Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

DIGIT — Sat, 08 Apr 2023 17:30:14 +0000

China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia’s Cabinet approved the decision to become a dialogue partner. The Cabinet’s decision […]

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Beijing announces two-year Metaverse innovation and development plan

DIGIT — Wed, 24 Aug 2022 10:59:09 +0000

The Metaverse development plan requires various municipalities to track NFT technology trends and integrate metaverse into education and tourism.

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Tencent shuts down NFT platform as gov policy makes it impossible to thrive

DIGIT — Thu, 14 Jul 2022 09:45:52 +0000

While NFTs are not banned in China like cryptocurrencies, the government has warned against fraud risks associated with the nascent sector.

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Chinese police busts illegal crypto mining farm, seizes 190 miners

DIGIT — Tue, 08 Mar 2022 11:42:20 +0000

Guangdong province’s Development and Reform Commission confiscated 190 crypto mining machines estimated to be worth 5 million yuan.

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China’s share in Bitcoin transactions declined 80% post crackdown: PBoC

DIGIT — Thu, 03 Mar 2022 12:53:07 +0000

China has carried out multiple crypto crackdowns and enforced numerous bans on crypto markets since 2013, however, Chinese traders have always found a way to bypass these bans.

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