Cryptocurrency Analysis and News Portal
A notice issued by authorities governing the Chinese city of Changshu stated that all civil servants in its jurisdiction will be paid their full salaries in digital RMB or digital yuan from May 2023. According to the notice issued by local Chinese authorities, Changshu Local Financial Supervision Bureau and the Changshu
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The government of China protested the enactment of sanctions on a series of national companies by the U.S., barring them from doing business with U.S.-based entities for allegedly collaborating with Russia. China’s Commerce Ministry criticized the move, saying it is a “typical form of long-arm jurisdiction,” which damages the
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Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the Chinese yuan as an alternative to the USD. Roubini on U.S. Dollar and
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Just like blockchain technology, the emergence of AI is relatively new and the laws governing such innovations are notably limited. Chinese regulators, particularly the Cyberspace Administration of China (CAC) have floated a new set of guidelines that will oversee the development of ChatGPT-like Artificial Intelligence (AI) products from its homegrown companies.
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E-commerce giant Alibaba is close to rolling out the beta version of its ChatGPT rival, Tongyi Qianwen, for Chinese enterprise customers. Alibaba (NYSE: BABA) appears set to roll out its ChatGPT rival product Tongyi Qianwen as the race for AI dominance heats up. At Tuesday’s Alibaba Cloud Summit, the Chinese e-commerce giant revealed
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Governments around the world are finding themselves face to face with questions on how to handle the swift rise of artificial intelligence (AI). In China, local authorities announced that they plan to enforce a mandatory review of generative AI services prior to their public operation. According to a statement on the
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The Chinese government appears to be more bullish on the cryptocurrency industry than one might think, as a major state company is reportedly launching new cryptocurrency funds.CPIC Investment Management, a subsidiary of China Pacific Insurance (CPI), is launching two crypto funds in partnership with the investment firm Waterdrip Capital, the
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One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland. Chinese Insurance Giant Enters
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Midjourney, an artificial intelligence (AI) service that generates images from natural language descriptions, recently banned the making of pictures of Chinese President Xi Jinping, much to the dismay of its users. However, this ban does not deter its users from finding a workaround to creating deepfakes—- a realistic-looking media created
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A senior People’s Bank of China (PBOC) official has urged regulators to consider cryptocurrency risks and fraud that could lead to bank failures when innovating regulation. The Chinese official highlighted the recent collapse of U.S. banks that provided services to crypto customers as an example. “The regulation philosophy, technology, and
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