Crypto in China

Central bank digital currencies have become among the most popular topics of discussion among governing monetary bodies as they are trying to find a way to reduce the impact of private cryptocurrencies. However, IMF’s Managing Director believes that each country has to follow its own route as one type of a CBDC will not work in every nation. Not a Single Solution Reports emerge daily of new central banks that are hoping on the CBDC trend, trying to capitalize on the...

The American fast-food company partnered with Humberto Leon – Co-Founder of fashion brand Opening Ceremony – to create a zodiac collection in the Metaverse. The initiative will honor the Lunar New Year (China’s most significant festival from February 1 to February 15). McDonald’s Joins The Metaverse With its newest endeavor, the US fast-food chain enabled fans to celebrate the Year of the Tiger in the Metaverse. They can experience the “one-of-a-kind collection of zodiac...

The U.S. Congress has completed a meeting in which members discussed how they can make the process of bitcoin mining greener. The situation is a bit of a two-sided coin in that they want to ensure renewable energy is available to this growing industry as they acknowledge it’s not likely to go anywhere soon. Why Is Congress Getting Involved in Crypto Mining? The meeting took place amongst members of the House Energy and Commerce Committee. The U.S. has become a major...

The central bank of Russia is allegedly considering a ban on all crypto activities, including transactions and mining. If this goes through, Russia will become the next in what appears to be a string of countries that have taken on very anti-crypto attitudes as of late. Russia May Be Next to Ban Crypto Prior to Russia is China, which announced over the summer that it was going to be ending all crypto and bitcoin mining projects within its borders as it worked to become...

The public security bureau of Chizhou city in the eastern province of Anhui has frozen six million yuan or nearly $1 million worth of crypto assets and arrested eight people for defrauding its investors since last year. Rug Pull Crypto Scam Chinese authorities have arrested eight in a rug pull scam involving 50 million yuan or $7.8 million in digital assets as the Beijing crackdown continues. The report suggested that several investors were duped in a scheme that let the...

Die XXIV. Olympischen Winterspiele (chinesisch: 2022年冬季奥林匹克运动会) sollen vom 4. bis zum 20. Februar 2022 in der chinesischen Hauptstadt Peking ausgetragen werden China plant die Einführung eines digitalen Yuan, kurz e-CNY. Die E-Währung soll während der Olympischen Winterspiele im kommenden Jahr finalisiert werden. Die chinesische Regierung hat nun eine weitere Testphase gestartet und gibt e-CNY-Coupons an die Bevölkerung Pekings aus. e-CNY: Weitere...

Pakistan could be the next country to ban cryptocurrency. The nation’s central bank is calling for an outright ban on all digital currency activity per documents submitted to the Sindh High Court, the country’s biggest legal establishment. Pakistan Seeks to End Crypto’s Run The fight has allegedly been going on since the year 2019. A petition was filed during that time which sought to remove present bank guidance that told banks and standard financial institutions to...

The non-fungible token universe and blockchain-based games seem to have their own macro events that affect their growth. A set of reports by the analysis company DappRadar revealed that the number of NFT trades continues to increase gradually despite the adverse price movements in the digital asset industry. Additionally, the interest in blockchain-based games is also on the rise. NFTs and Blockchain Games Becoming More Popular Most cryptocurrencies have lost some price...

Reports emerged indicating that the Chinese officials are keeping a close eye on cryptocurrency activities and are applying innovative strategies to tackle virtual currency money laundering. “An Important Breakthrough” According to the Chinese state-owned broadcaster, CCTV (controlled by the CCP), the country’s Ministry of Public Security has solved 259 cases that involve cryptocurrency money laundering. It also seized cryptocurrencies worth 11 billion yuan, or nearly $1.7...

Bitcoin – the world’s number one digital currency by market cap – briefly fell below the $40,000 mark for the first time in several months. At press time, the asset has risen back to about $41,000 per unit, though the news – for some analysts – suggests that the year is going to be rocky for the virtual coin. Is Bitcoin Feeling Okay? Overall, bitcoin has gotten off to a shaky start in 2022. What was supposed to be a year – according to many industry experts – in which...