Beijing bares 2-year metaverse development plan
China’s capital of Beijing sets up an ambitious metaverse technology adoption strategy that aims to showcase its rich culture and promote tourism while pioneering innovations tied to blockchain.
Latest China News
In China, cities start piloting e-CNY payment in public transport systems
China's CBDC adoption is moving ahead as planned, with several cities testing a new electronic payment method that lets users pay for their transport fares using digital yuan.
China: Bank testing e-CNY smart contract-enabled school fee payment in Sichuan
The product is coming first to the city of Chengdu and will be developed by the Digital Research Institute, the Chengdu Longquanyi District Education Bureau and Tianfutong Financial Services.
Shanghai exchange Hotbit suspends services as authorities probe ex-employee
Hotbit says that police are investigating an ex-employee for criminal conduct and that its funds have been frozen for this, impacting its day-to-day operations.
The CoinGeek Pulse Episode 99: Tornado Cash sanctioned, Hodlnaut halts withdrawals, NFTs on Instagram
U.S. Department of the Treasury's Office of Foreign Assets Control said that cybercriminals regularly used Tornado Cash to launder money amounting to more than US$7 billion since 2019.
Chinese municipal bank issues first digital yuan loan holding IP as collateral
The Rural Commerce Bank of Zhangjiagang, located in China's Suzhou province, has issued the first-ever digital yuan loan backed by intellectual property as collateral.
PBoC to onboard more provinces and cities to China’s CBDC platform
Lan Zhou noted that the CBDC had an impressive level of adoption across the test sites—citing that as of May, Chinese consumers had done a cumulative 264 million transactions amounting.
Shanghai 5-year digital economy development plan includes NFTs, web3, metaverse
Shanghai's blockchain adoption plans include creating an innovation system with blockchain and promoting the development of its ecosystem with strong innovation capabilities and independent control.
The CoinGeek Pulse Episode 94: Voyager files bankruptcy, DoJ goes after ‘crypto’ frauds, Meta shuts down Novi
Meta is shutting down its Novi wallet. The social media company is asking its users to withdraw their funds—either by transferring them to their bank accounts or withdrawing them as cash.
Chinese tech giants join ‘self-discipline initiative’ to fight speculation on NFT marketplaces
The "self-regulatory initiative" is led by the Chinese Cultural Industry Association, which was joined by China's largest tech firms, including Tencent, Ant Group, Baidu, and JD.com.
China court says Tether stablecoin ‘should not be circulated’
A Chinese court has ruled that local companies can’t pay their workers’ wages with USDT (aka Tether) because the government—like everyone else—doesn’t recognize the stablecoin as legitimate.
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.