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 ...
Malaysia and China are exploring the possibility of advancing talks about establishing an Asian Monetary Fund as reducing dependence on the US dollar gains more importance in the region. The proposal, introduced last week during the Boao Forum held in the Chinese island province of Hainan, emphasizes the importance of ...
MY E.G. Services Berhad (MYEG) and East Logistic-Link Co., Ltd., a fully-owned agency of the General Administration of Customs of the People's Republic of China (GACC), have entered into a partnership agreement to offer a comprehensive range of cross-border trade facilitation services. Under the agreement, MYEG's blockchain platform, Zetrix, will ...
China has taken an active interest in fostering its fintech industry and promoting blockchain technology, despite its negative stance on cryptocurrencies. The Ministry of Industry and Information Technology, which oversees the Chinese fintech industry, announced plans to enhance its blockchain technology standards by 2025 on March 28, 2023. In a ...
