Proposals to a United Nations group reportedly show China wants digital IDs and real-world punishments for actions that occur in the Metaverse. China is reportedly looking to implement a system akin to its social credit system in the metaverse and other online virtual worlds.POLITICO reported on Aug. 20 that state-owned telco China Mobile hasproposed a
China’s central bank governor has revealed that transactions using the country’s central bank digital currency (CBDC) reached 1.8 trillion yuan ($250 billion) at the end of June. In addition, the People’s Bank of China (PBOC) official stated that digital yuan in circulation amounted to 16.5 billion yuan. Latest Digital Yuan Stats People’s Bank of China
From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries such as Brazil, China, and Russia, who are endeavoring to diminish the dominance of the greenback
Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends
BTC.com, the seventh-largest Bitcoin mining pool, said that its client fund services are unaffected by the recent $3 million cyberattack. Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers.BTC.com experienced a cyberattack on Dec. 3, with attackers stealing around $700,000 in client
Rumors of expanding war, massive inflation destroying people’s purchasing power, and widespread volatility in the world of fiat currencies shaped the news this past week, with similarly dynamic developments in the world of cryptocurrency. Rich Dad Poor Dad author Robert Kiyosaki says the “end is here” for fake money. This and more just below in
Scan and pay with e-CNY is now available in multiple Chinese cities for citizens looking to ride their local buses and subways. According to multiple sources, on Tuesday, China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible
Some of the key areas of blockchain development include manufacturing, energy, government data sharing and services, law enforcement, taxation, criminal trials, inspection, and cross-border finance. The Cyberspace Administration of China (CAC) announced the commencement of an in-house effort to expedite blockchain development and innovation across 15 zones and 164 entities. The initiative aims for the large-scale…
Chinese blockchain project BSN comes to Turkey and Uzbekistan after launching the BSN Hong Kong and Macau portal. The Chinese government-backed blockchain project, the Blockchain-based Service Network (BSN), continues expanding its global presence by setting up two new portals in Turkey and Uzbekistan.Red Date Technology, the architect behind the BSN project, has signed an agreement…
Bitcoin derivatives markets flipped neutral-to-bearish after China’s ‘crypto ban’ announcement triggered a BTC price dip to $40,600. China bans Bitcoin (BTC), again.No, we’re not traveling back in time. On Sept. 24, the People’s Bank of China (PBoC) published a new set of measures to promote inter-departmental coordination on cracking down on crypto activity. The measures…
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