Chinese court ruling invalidates 2019 car sale contract settled with digital currency
Shanghai Fengxian People's Court said in its ruling that using the digital token instead of fiat money made the sales contract null and void.
Latest China News
Tencent forms ‘extended reality’ unit to further metaverse development
The unit will be headed by Tencent Games Global's Chief Technology Officer Li Shen and will be part of the conglomerate's Interactive Entertainment business group.
WeChat bans NFT and digital asset-related accounts—again
WeChat has announced a ban on accounts related to Bitcoin and NFTs for the second time in three months, even as NFT platforms in China have grown fivefold since February.
Chinese block reward mining chip designer files for Nasdaq IPO with SEC
Nano Labs was founded by Jianping and Sun Qifeng, former executives of Canaan, which currently produces HTC chips used in mining proof-of-work consensus digital currencies.
The CoinGeek Pulse Episode 89: GBC22 in Dubai, China blockchain tech updates, and luxury brands join Web3
The three-day BSV Global Blockchain Convention gathered blockchain leaders and digital assets experts joined by more than 1,000 attendees and 100 participating businesses worldwide.
Shenzhen gives away free 30M digital yuan to attract consumer spending
The airdrop is a joint effort with Meituan Dianping, one of China's leading food delivery apps, according to a statement from Shenzhen authorities.
China eyes tightening stablecoin regulations following Terra crash: report
A recent article detailed the situation surrounding the crash of UST and Terra and described it as a "black swan" event that wiped out over $42 billion of investors' money.
US senators propose to bar apps supporting digital yuan payments from app stores
U.S. senators have proposed a bill that will prohibit application stores like Google and Apple from hosting apps supporting digital yuan as a payment method.
China’s supreme court proposes to integrate blockchain into the judicial system
In the document it released on May 25, the Supreme People's Court of China outlined that the proposal could accelerate the transformation of the local judicial system.
China: Court classifies Bitcoin as virtual property and protected by law
According to a local news outlet, the court made the statement in a case reference book it shared via WeChat titled "Does Bitcoin Have Property? How to perform return delivery?"
China trials tax and charge payments with digital yuan
The country is now testing the digital yuan—e-CNY—for use in payments of tax, stamp duty, and social security premiums with Zhejiang, a province in Eastern China, pioneering the effort.
Chinese court makes first public ruling involving NFTs
An unknown user of NFT China marketplace has reportedly minted a copyrighted artwork of Ma Qianli, which features a cartoon tiger receiving a vaccine shot, according to local media outlets.