The Chinese government is reportedly launching an “ultra-large-scale blockchain infrastructure platform for the Belt and Road Initiative.” The platform will support the implementation of cross-border cooperation projects along the Belt and Road Initiative and provide the base for developing applications that showcase collaboration across borders. ‘Ultra-Large Scale Blockchain Infrastructure Platform’ The Chinese government has reportedly […]
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While China has cracked down on cryptocurrencies in the mainland, it’s apparently taking a softer approach to Hong Kong’s crypto hub aspirations.
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The Chinese government is setting up a national blockchain innovation center in Beijing to focus on industrial applications and major use cases of blockchain technology, particularly those related to the Chinese economy. China Establishing New Blockchain Center China’s Ministry of Science and Technology has approved the establishment of a blockchain research center called the National […]
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An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
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The Chinese government has presented a plan of action regarding the inclusion of virtual reality (VR) and augmented reality (AR) in the lives of the Chinese people. The plan contemplates research of several technologies, including the development of an open metaverse platform for its citizens and research on odor simulation technology. Chinese Government Includes Odor […]
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China has used its Economic Daily media outlet to signal that further regulatory action may be taken toward stablecoins in the wake of the collapse of Terra’s algorithmic stablecoin.
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According to a recent report, Beijing is pressing the fast-food retail chain McDonald’s to support the digital yuan before the Winter Olympics in China scheduled for February 2022. The report notes that China is also pushing companies like Visa and Nike to join in on the central bank digital currency (CBDC) rollout. Chinese Government Pushes […]
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China has proposed adding cryptocurrency mining to the country’s latest “Negative List for Market Access.” This will make cryptocurrency mining an industry that is off-limits to investors, another move by the Chinese government to clamp down on crypto-related activities. China’s Negative List of Industries to Include Cryptocurrency Mining Cryptocurrency mining has been added to the […]
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The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments. […]
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The head of global equity strategy at Jefferies, an investment bank and asset management firm, says that cryptocurrency regulation in the U.S. would “ultimately be very positive” for bitcoin or other crypto assets. It will also be more accommodating than China’s authoritarian approach to crypto regulation. US Regulation Would ‘Ultimately Be Very Positive’ for Mass […]
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