Former President and the leading Republican presidential candidate, Donald Trump, has called for the U.S. government to prioritize developing the cryptocurrency industry rather than "selling it off." During a recent livestream with YouTuber Adin Ross, Trump stressed the importance of building and strengthening the U.S. crypto sector to maintain competitiveness ...
Chinese authorities have uncovered a massive illegal underground banking network valued at $1.9 billion allegedly using cryptocurrencies in its operations to evade scrutiny after a two-year investigation, according to local reports. Authorities have arrested 193 suspects nationwide in connection with this case and frozen assets worth 149 million yuan (about ...
During a conference in Singapore on July 19, 2023, Yi Gang, the governor of the People's Bank of China, revealed that the Chinese central bank digital currency (CBDC) had facilitated transactions amounting to 1.8 trillion yuan, equivalent to over $250 billion as of the end of June 2023. Yi Gang ...
The Chinese government is currently considering new laws that strongly emphasize licencing and content control for the development of generative AI technologies. According to a report from the Financial Times, the Chinese digital tech regulator, Cyberspace Administration of China (CAC), is preparing to begin the implementation of new regulations that ...
China is aggressively pushing forward with its digital currency adoption efforts as various cities and institutions in the country embark on initiatives to promote the use of the central bank digital currency (CBDC) and build a cashless economy. Recently, Jinan, the capital city of Shandong Province, took a significant step ...
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 ...
