Hong Kong Lawmaker to Explore Digital Asset Link With Mainland China
Johnny Ng floated the possibility of licensed Hong Kong exchanges being connected with Shanghai's exchanges. Original Source
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China
China is Binance’s largest market
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance, the largest cryptocurrency exchange, reportedly has a big presence in China with around 900,000 active users. This is despite China banning all crypto trading activities. Binance has a presence in China South Korea, Turkey, Vietnam, and the
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Binance denies reports of $90 billion in crypto trades in China
Binance has reportedly continued operations in China, despite the country’s ban on cryptocurrencies, even conducting billions of dollars worth of transactions monthly, according to a Wall Street Journal investigation. The WSJ report says its reporters, along with current and former employees of Binance, viewed “internal figures” that revealed users traded $90
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Binance's Largest Market is China: WSJ
China is Binance’s largest market, amounting to 20% of worldwide volume. Source
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BTC Drops to $29K as WSJ Ratchets Up Binance Issues, China Warns of ‘Torturous Recovery
Around the same time, China's ruling Communist Party's 24-member Politburo — its top decision-making body, led by President Xi Jinping – said the country's economy is facing new difficulties and the economic recovery will be challenging. Early this year, analysts widely cited China's reopening of its economy as a major
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$2 million crypto graphics card counterfeit scheme busted in China
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Several suspects have been apprehended in China for selling used graphics cards as new to crypto miners in a counterfeit operation, reports on July 20 reveal. Their modus operandi involved purchasing relatively new GPUs in bulk from miners, cleaning
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Multichain halts operations following CEO arrest in China, lost access to servers
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Multichain will be shutting down services as a result of the CEO “being taken away by the police” and the issues the team has faced afterwards. Multichain unable to access funds Multichain, a cross-chain protocol formerly known as
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Bank of China trials offline payments for digital yuan via SIM cards
Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan, also known as the e-CNY, which is China's central bank digital currency (CBDC) currently
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China could benefit from yuan stablecoin over its CBDC
China has long since closed its doors to decentralized cryptocurrencies, but Circle CEO Jeremy Allaire believes that stablecoins could play a role in the proliferation of China’s digital yuan.Allaire, who heads up the issuer of dollar-backed stablecoin USD Coin (USDC), suggested that a renminbi (RMB) based stablecoin might be China’s best
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China to tighten rules around releasing generative AI tools
The Chinese government is considering additional regulations on artificial intelligence (AI) development that emphasize content control and licensing.According to a July 11 report from the Financial Times, the Cyberspace Administration of China (CAC) wants to impose a system requiring local companies to obtain a license before releasing generative AI systems.This
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