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” Bank of China ex-advisor calls Beijing to reconsider crypto ban “ The idea of lifting the cryptocurrency ban has started floating in China as a former central bank official has called the country to review its stringent crypto restrictions. Huang Yiping, a former member of the Monetary Policy Committee at the People’s Bank of…
” Former Chinese central banker says digital yuan ‘usage has been low’ “ A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use. Xie Ping, a former PBOC research director and current finance professor at Tsinghua University, made critical public…
” Shanghai included blockchain, NFTs and Web3 in its 5-year plan “ China’s biggest city Shanghai officially intends to boost the development of innovations such as blockchain, nonfungible tokens (NFTs), metaverse and Web3 in general during its next five-year plan. On July 13, Shanghai’s Municipal Government published the draft of its “14th Five-Year Plan for…
“# Tencent files for patent related to virtual concerts in Metaverse ” Chinese tech conglomerate Tencent has filed for a virtual concerts patent with the Chinese National Intellectual Property Administration (CNIPA) according to business data-tracker Qichacha. The application comes as Chinese companies race to secure Metaverse trademarks. Even though the People’s Bank of China (PBoC)…
“# Crypto’s impact on sanctions: Are regulators’ concerns justified? ” The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies. The rapidly increasing adoption…
“# Another Ethereum mining pool forced to close due to China crackdown ” BeePool, the fourth largest Ethereum mining pool, is closing amid China’s crypto crackdown. The China-based Ethereum mining pool announced on Tuesday it will suspend operations “in response to the latest regulatory policies.” Effective immediately, the registration of new users and the addition…
“# Huobi outlines plan for Chinese investors after halting crypto trading ” The uncertainties sparked by China’s blanket ban on crypto trading have taken a downturn as homegrown crypto exchanges such as Houbi take proactive measures to protect and return existing investments residing on the mainland. Speaking to Cointelegraph in this regard, Du Jun, co-founder…
“# Ethereum forming a double top? ETH price loses 12.5% amid Evergrande contagion fears ” Ethereum’s native asset Ether (ETH) prices slumped on Sept. 20 amid a broad selloff in the cryptocurrency market, led by worries about a potential housing bubble crisis brewing in China. The ETH/USD exchange rate dropped as much as 12.52% to…
“# Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike ” Sentiment in China has slumped as WeChat searches for Bitcoin dropped 7% this week, while searches for “bear market” spiked 102%. One trend that remained strong was NFT-related, with NFTs receiving an 86% increase in WeChat searches over the seven-day…
“# Former Bank of China exec joins BitMEX operator as non-executive board director ” BitMEX’s parent company 100x Group has hired a financial veteran with a professional background including the Bank of China. According to a Feb. 1 blog post on BitMEX, 100x has appointed former Chinese banker Wai Kin Chim as its new independent…