China: Upgraded digital yuan now with smart contract function
Digital yuan's smart contract functionality was integrated into the food delivery app Meituan, allowing users of the digital yuan to automatically compete in a raffle draw.
Latest China News
China’s digital yuan deployed in securities trade for the first time
Soochow Securities has become the first Chinese firm to use the digital yuan in securities trading and providing technical and structural assistance to the PBoC.
People’s Bank of China currency report now includes digital yuan
Including digital yuan data in the final report is a clear statement of intent by the PBoC to move with a full-scale launch of the CBDC.
Court in China rules blockchain-based P2E games are not protected by law
Play to earn games and their in-game assets do not have the same levels of investor protection as traditional investments, according to the court ruling.
China in global lead with over 1,400 blockchain firms: report
A national white paper revealed that combined, China and the United States account for over half of all global blockchain companies despite Beijing’s crackdown on Bitcoin.
Chinese Communist Party official pleads guilty to aiding BTC miners
Xiao Yi was the CCP Secretary in the City of Fuzhou from ‘18 to ‘21, and during that time, he aided miners through electricity assurance, capital aid, and subsidies.
China’s CBDC wallet utilizes AliPay’s red packets to boost adoption amid stiff competition
To boost CBDC wallet adoption and keep up with the payments industry, the PBoC digitally incorporated China's age-old tradition of sending red packets, a scheme first introduced by AliPay.
China: Authorities arrest 63 people linked to digital asset money laundering ring
Chinese authorities, acting on a tip-off, launched a massive-scale raid that led to the arrest of 63 people allegedly tied to a money laundering ring using virtual currencies.
Court in China grants legal protection on NFTs in landmark case
The Chinese court placed digital collectibles in the category of virtual property, likening it to the “selling of digital goods through the internet.”
China’s foreign exchange agency seeks tighter control over the digital asset industry
China's foreign exchange bureau says there is a need to regulate and classify the digital asset sector to improve the country's monitoring of illegal forex transactions.
China’s State Council warns against metaverse fever
The State Council issued a warning via the state-backed Economic Day that the metaverse might not be fit for some regions, cautioning its citizens against big metaverse bets.
Wuhan removes NFTs from metaverse plans amid regulatory trouble in China
The revised document revealed that Wuhan harbors ambitious plans to build at least two metaverse industrial estates before 2025.