Starting June 1, Hong Kong will allow traders to invest in some tokens, such as bitcoin, ether and solana, on regulated exchanges in the country. Traders are not allowed to hold any stablecoins, but the move has fuelled sentiment that wealthy Chinese speculators could soon plough money into the crypto AttractsBitcoinChinesecryptoexchangeExchangesFlokiGameGamingMarketSpeculatorsTargetsValhalla Read More
On May 24, the Chinese city of Zhengzhou announced a series of policy proposals to support metaverse companies operating in the region. As part of the initiatives, the municipal government will establish a dedicated fund worth 10 billion yuan ($1.42 billion) to foster growth and development in the industry.Per the BitcoinChineseCitycryptoexchangeDevelopmentDraftExchangesindustryMetaversePolicyReleases Read More
On May 22, Nanjing, the capital city of China’s eastern Jiangsu province, inaugurated the Chinese Blockchain Technology and Application Innovation Platform to foster and advance metaverse research and development across the country.The newly established state-backed entity is led by the Nanjing University of Information Science and Technology (NUIST). As per ChineseCityGovtBackedLaunchesMetaversePlatform Read More
Conflux is a speedy and cheap blockchain that claims to be the only regulatory-compliant public blockchain in China. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China and Oreos.
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On May 15, the Supreme People’s Procuratorate of the People’s Republic of China — the national agency responsible for legal prosecution — shared its thoughts on the nonfungible token (NFT) market. In an article, three authors outlined the prosecutors’ vision of the market risks and the reasons to combat them more ChineseCrackMarketNFTProsecutorspseudoinnovation Read More
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he can eliminate Venezuela’s inflation in 30dayBitcoinBoliviaChineseHankeInflationMullsNewsProposesSettlementsSolutionSteveTradeVenezuelanYuan Read More
Chinese and French foreign ministers have expressed readiness to strengthen cooperation and pursue a “close and enduring comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. This followed a “successful” meeting between French President Emmanuel Macron and Chinese President Xi Jinping.
China and France to Strengthen Relations
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Personal finance expert and best-selling author Dave Ramsey has dismissed de-dollarization concerns and the prospects of a BRICS currency, the Chinese yuan, or the Russian ruble displacing the U.S. dollar in international trade. “They don’t have the muscle to take down the dollar,” he stressed.
Dave Ramsey on De-Dollarization and BitcoinBRICSChineseConcernscryptoexchangeCurrencyDaveDeDollarizationDismissesDollarEconomicsExchangesNewsRamseyYuan Read More
Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s BitcoinBRICSChineseCurrencyDollarsDomesticDominanceEconomicsLargelyNewsThreatsYuan Read More
A state-subsidized Chinese artificial intelligence (AI) company recently announced the launch of “Spark Model,” an AI system designed to compete directly with OpenAI’s ChatGPT.The launch by the company, iFlytek, took place at a tech event in Hefei called “Spark Desk” and featured a full demonstration of the new system’s capabilities. .#China's BotChatGPTChineseFirmLaunchesServiceStateSponsoredSurpass Read More