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The Shanghai High Court has ruled that cryptocurrencies possess “property attributes” under Chinese law, affirming their value as virtual commodities. However, the court upheld China’s strict prohibition on using crypto for commercial activities such as token issuance and speculative trading,…
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A Chinese national has pleaded guilty to laundering $73 million linked to crypto scams through multiple shell companies in the United States. According to a Nov. 12 announcement from the Department of Justice, the accused Daren Li, a dual citizen…
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HashKey’s Xiao Feng believes Trump’s crypto stance may prompt China to accelerate its adoption of cryptocurrencies. U.S. President-elect Donald Trump’s pro-crypto policy may eventually prompt China to reconsider its stance on digital assets, HashKey Group chairman Xiao Feng told the…
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Hangzhou-based fabless integrated circuit design company Nano Labs has begun accepting Bitcoin as payment for its products via a business account on Coinbase. Nano Labs, a cryptocurrency-mining chip designer based in Hangzhou, Zhejiang province, said in a press release on…
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Flare has partnered with Red Date Technology to introduce a new identity verification system for Mainland Chinese visitors in Hong Kong. The system, which uses decentralized identity technology, allows users to go through KYC checks while keeping their personal information…
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A Chinese man convicted of espionage and allegedly receiving more than 1 million yuan through cryptocurrency has been sentenced to life in prison. The People’s Court sentenced Wang Momou to life imprisonment after finding him guilty of espionage, according to…
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The People’s Bank of China has developed a digital yuan visual hard wallet, showcasing dynamic QR codes and offline payments. China is moving forward with the adoption of its central bank digital currency — also known as the digital yuan…
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A trade association for the world’s airlines is set to integrate the digital yuan into its billing systems by the end of 2024 to enhance payment options. The International Air Transport Association plans to incorporate China’s central bank digital currency…
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Deputy Governor of China’s Central Bank says the countries partnering together to build mBridge would need to establish trust and mutual understanding of one another’s regulatory framework. According to a report by SCMP on Oct. 23, the deputy governor of…
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China’s CBDC app has reached a significant milestone with 180 million personal wallets and a staggering transaction volume of ¥7.3 trillion yuan in pilot regions. China‘s ambitious push for a central bank digital currency is gaining momentum, with millions embracing…
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With central banks around the world cutting interest rates and injecting stimulus, how can you position your portfolio to benefit from the resulting increase in liquidity? Read on. Macroeconomic triggers deepen Global liquidity is seeing a sharp increase as central…
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Bitcoin
Markets
Moo Deng, the recently launched Solana Pump.fun token, continued rising on Saturday, reaching an all-time high as the fear of missing out set in. Moo Deng (MOODENG), a hippo-themed token, jumped to a record high of $0.3495, bringing the weekly…
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Could a flood of new liquidity from China’s massive stimulus spill into the crypto market, or is the excitement surrounding Bitcoin just misplaced optimism? Bitcoin to the moon? Lately, there’s been a lot of chatter about China’s potential $1.4 trillion…
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Bitcoin
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A new report reveals that 134 countries, covering 98% of the global economy, are exploring digital currencies, with 44 currently piloting CBDCs. Central bank digital currencies are gaining widespread attention, with nearly 99% of the global economy now focused on…
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The Russian government has formed a focus group to trial crypto payments for foreign trade, focusing on importers of goods with potential military applications. Russia has established a focus group under an experimental legal regime to explore the use of…
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China’s largest cryptocurrency market data platform, Feixiaohao, is allegedly facing legal troubles as reports claim its team has been detained by law enforcement. While the exact details behind the detention remain unclear, a report from Chinese media shared by journalist…
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