Zhengzhou, the capital of China's Henan Province, has introduced a series of legislative proposals designed to support local metaverse businesses and seek to foster industry growth. These initiatives, announced on May 24, 2023, involve the creation of a special fund worth $1.42 billion (10 billion yuan) by the city government. ...
On May 24, 2023, CCTV, a state-affiliated media outlet in China, aired a video on cryptocurrencies. However, the video program was swiftly removed from CCTV's platform the following day, leaving many curious about the reasons behind its removal. The video primarily focused on the latest cryptocurrency regulations in Hong Kong ...
The China Metaverse Technology and Application Innovation Platform was launched in Nanjing, the capital city of China's Jiangsu province, on May 22, 2023. This state-supported initiative, led by the Nanjing University of Information Science and Technology (NUIST), aims to facilitate and promote research and development in the metaverse across the ...
A recent study conducted by Elliptic, a leading provider of blockchain analytics and crypto compliance solutions, has shed light on the alarming connection between the fentanyl epidemic in the United States and cryptocurrency transactions. The research identified over 90 Chinese businesses that supply fentanyl precursors to the U.S., and a ...
A recent case of fraud in northern China has raised concerns about the potential misuse of advanced "deepfake" technology for financial crimes. The incident involved the use of AI-generated voice and facial data to deceive a man into transferring 4.3 million yuan ($622,000) to a fictitious acquaintance. According to a ...
China has inaugurated the National Blockchain Technology Innovation Center in Beijing to train more than 500,000 professionals in distributed ledger technology (DLT). Led by the Beijing Academy of Blockchain and Edge Computing, the center will collaborate with local universities, think tanks, and blockchain businesses to advance the technology in China. ...
China has released a draft proposal outlining how to manage financial experiments related to cryptocurrencies as it seeks to expand its involvement in the crypto industry. Despite the Chinese government’s concerns about the risks associated with digital currencies, the proposed protocol aims to clarify the legality of legal actions related ...
China is increasing the scope of applications for its Central Bank Digital Currency (CBDC), the digital yuan, or e-CNY, as part of its Belt and Road initiative and cross-border trading efforts. The digital yuan, also known as the digital RMB, was among the first CBDCs to be developed and extensively ...
As the development of artificial intelligence (AI) picks up pace, governments worldwide are grappling with how to effectively manage this technology. In China, local officials have announced their intention to require the evaluation of generative AI services before they can become operational. The Cyberspace Administration of China (CAC), the country's ...
A report by 36Kr indicates that CPIC Investment Management, a subsidiary of China Pacific Insurance (CPI), is collaborating with investment firm Waterdrip Capital to launch two cryptocurrency funds. This development further implies that the Chinese government may have a more positive outlook on the cryptocurrency industry than previously thought. CPI ...
