Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report
Earlier this year KuCoin closed a $10 million funding round into CNHC. Source
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Chinese officials issue warning about AI and national security
Officials in China have issued a warning about the risks posed by the rapid advancement in artificial intelligence (AI) development and subsequently called for tighter measures on national security. The remarks come from a meeting on Tuesday in which Chinese President Xi Jinping, and other prominent members of the communist party,
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CNHC stablecoin issuer detained by Chinese police: Report
The Chinese government continues to crack down on the cryptocurrency industry with a new investigation targeting a major Chinese yuan stablecoin issuer.Employees of Trust Reserve — the issuer of the Chinese yuan-pegged stablecoin CNH Coin (CNHC) — have been detained by Chinese police, the local blockchain publication PANews reported on
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Floki Attracts Chinese Speculators as Valhalla Game Targets Chinese Gaming Market
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
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Chinese city releases policy draft for metaverse industry development
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
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Chinese city launches gov’t-backed metaverse platform
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
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‘Chinese Ethereum’ Conflux Draws Spotlight as Hong Kong Welcomes Retail Traders
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. Original Source
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Chinese prosecutors to crack down on ‘pseudo-innovation’ in NFT market
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
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Bolivia Mulls Chinese Yuan for Trade Settlements, Steve Hanke Proposes 30-Day Solution for Venezuelan Inflation – Bitcoin News
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
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China, France to Deepen Ties Following Meeting of French President Macron and Chinese Leader Xi Jinping – Economics Bitcoin News
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 State Councilor and Foreign
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