China
China Considers Launching First Stablecoins to Challenge US Dollar Dominance
China is getting ready to introduce its first stablecoins as part of a larger initiative to lessen its dependency on the US dollar (USD), the Financial Times reported on Wednesday.…
China’s Central Bank Suspends Bond Purchases to Support Yuan; BTC Remains Below $95K.
China’s central bank intervened on Friday to help the yuan, which has been weakening, as its devaluation is thought to be a possible boon for bitcoin (BTC). This month, the…
China Enforces Stricter Rules on Banks to Monitor Crypto Transactions.
China aims to stop illicit cross-border financial operations by enforcing tighter regulations that require banks to monitor and report dangerous cryptocurrency transactions. The goal of China’s new legislation is to…
Despite Crypto Crackdown, China Prepares for Metaverse with Standards Body.
China, which outlawed the usage of cryptocurrencies in September 2021, is showing interest in learning more about the metaverse industry. To create an organization that would establish guidelines for the…
Chinese Bank Agriculture Bank Of China Rolls Out Digital Yuan Supply Chain Financing Solution.
More Chinese banks plan to use the CBDC to finance supply chains by implementing smart contracts driven by the digital yuan in their business operations. The Agricultural Bank of China…
Nearly 490,000 Vendors in China’s Changsha Accept Digital Yuan Payments.
The city government of Changsha in China reports that nearly 490,000 merchants now embrace digital yuan payments as the country’s central bank digital currency (CBDC) pilot programme advances. This year,…
63 People Arrested in China For $1.7 Billion Money Laundering Scheme.
The Chinese police arrested 63 people, in the Mongolian city of Tonglio, for being allegedly involved in a money laundering scheme that netted a whopping 1.7 billion in cryptocurrency using…
Chinese court upholds ruling that cryptocurrency is virtual property protected by law.
An intermediate court in China upheld a lower court’s ruling that cryptocurrency is a virtual property protected by the law. It highlighted that regulations issued by the Bank of China…
10 Chinese nationals are under suspicion for converting money into crypto.
According to reports, around ten Chinese citizens are being investigated by Mumbai’s Cyber Investigation division for loan fraud. Based on available information, many Indian youngsters are being offered jobs with…
Robot emerges as CEO of NetDragon.
NetDragon, a Chinese gaming company, has appointed an AI-powered virtual humanoid robot named Tang Yu as its CEO. The global leader in building internet communities is into gaming, education, phones,…
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