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Residents of 3 Chinese cities paying taxes and charges with digital yuan
29.4.2022
China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security
Digital Yuan Now Being Used to Pay Taxes in Chinese Pilot Zones
29.4.2022
Some Chinese citizens now appear to be paying their taxes in the digital yuan, with the pilot gathering pace in the nation’s fast-growing pilot area.
Per Hangzhou.com, a number of government organs in Zhejiang province are trialing solutions that involve “the online transfer of digital yuan”...
Bitcoin Mining Difficulty Hits a Lifetime High After a 5.56% Increase, Metric Nears 30 Trillion
27.4.2022
Bitcoin’s mining difficulty reached a lifetime high on April 27, at block height 733,824, after jumping 5.56% higher than two weeks ago. The difficulty jump further indicates that Bitcoin’s difficulty is also nearing 30 trillion, as the change on Wednesday shows the current difficulty...
Former Chinese Central Bank Governor: US Dollar Will Remain Global Reserve Currency, Says It ‘Has Great Inertia’
27.4.2022
In remarks that appear to pour cold water on assertions that digital currencies will topple the U.S. dollar anytime soon, a former governor of the Chinese central bank, Zhou Xiaochuan, insisted the greenback will remain in its position as the global reserve currency. Xiaochuan said the dollar still...
Chinese court rules marketplace guilty of minting NFTs from stolen artwork
26.4.2022
A user of the NFT marketplace NFTCN allegedly poached a creation of an artist and sold it as an NFT for $137 to another user
Chinese Man Uses Digital Yuan to Pay Court-issued Fine in Legal First
22.4.2022
Chinese media outlets have been reporting on a new first for the digital yuan – with the central bank-issued token used to pay a court-issued fine for the first time.
Per Chinaqw, on April 19, a man surnamed Wei, the plaintiff in a motor vehicle traffic accident liability dispute case, had been...
Ex-Chinese Central Bank Chief Says Digital Yuan Not Intended for International Trade
20.4.2022
The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes.
China has loosely pegged the value of its yuan fiat...
The Ways Shanghai's Food Crisis Is Impacting Chinese Game Devs
15.4.2022
For the past few days, Genshin Impact players have been speculating about how extended lockdowns and food crises in Shanghai have been affecting the game’s development. The promised teapot event was never released, and the Serenitea housing system has been in extended maintenance mode since...
Chinese Banking Associations Target NFTs
13.4.2022
NFTs are increasingly under the microscope in China
The Chinese Gaming Industry Is About To Start Moving Again After Devastating Nine-Month Freeze
11.4.2022
After a nine-month hiatus that put the Chinese games industry on edge, China’s culture regulators have finally started issuing new approvals for domestic games so they can be published within the country.Read more
China’s Central Bank Adds More Digital Yuan Pilot Cities
5.4.2022
China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users. PBOC Adds More Cities to Test Its CBDC The Chinese central bank, the People’s Bank...
Chinese Messaging App Wechat Reportedly Suspends Accounts Linked to NFTs
4.4.2022
Wechat, the Chinese messaging app, has reportedly suspended accounts that are linked to non-fungible tokens (NFTs). The objective of the crackdown is to stop the use of the affected accounts in promoting NFTs. The Widening Crackdown on Digital Assets The Chinese messaging app Wechat recently...
China Jails Kidnappers That Demanded ‘Hundreds of Bitcoins’ as Ransom Payment
1.4.2022
Chinese authorities have jailed four individuals that were accused of kidnapping one person and demanding “hundreds of bitcoins” as a ransom payment. While the alleged kidnapping is reported to have occurred in the Philippines, the cooperation between the two countries eventually...
IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance
1.4.2022
Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S. currency, according to a high-ranking official at the International Monetary Fund (IMF). The confrontation could lead to fragmentation of the world’s current monetary system,...
Russia's energy chief says it would accept Bitcoin for oil and gas
25.3.2022
The heavily-sanctioned country is scrambling to find ways to increase its revenue and has floated the possibility of allowing China and Turkey to pay for energy in Bitcoin
Chinese internet giants remove NFT platforms fearing gov't crackdown
21.3.2022
WeChat removed several accounts for digital collectible platforms for violating the policy of illegal trade, while Ant Group and Tencent-owned NFT platforms updated their user agreements
Russian, Chinese Central Banks ‘Working Together On SWIFT-Alternative Interoperability’
18.3.2022
A senior Russian parliamentarian has claimed that the Central Bank is working with the People’s Bank of China on workarounds that may help the countries bypass the SWIFT banking network – including domestic alternatives, blockchain solutions, and digital fiats....
Read More: Russian, Chinese...
Chinese Authorities Arrest Alleged Masterminds Behind an Online Virtual Currency Pyramid Scheme
16.3.2022
Authorities in China recently announced the arrest of ten suspects they say are behind an online pyramid platform that is thought to have stolen millions of dollars from unsuspecting users. The suspects are accused of using the promise of high returns and a regular income to lure more victims....
First Mover Asia: India Loses Foreign Investment, Chinese Indices Continue a Downward Trend; Cryptos Suffer an Off Day
11.3.2022
The world's second-largest country by population has watched foreign investors flee for the last two weeks; bitcoin settles below $40,000
Ethereum's Buterin Reiterates Support for Ukraine, Educates Chinese on Patriotism
10.3.2022
The Ethereum (ETH) co-founder Vitalik Buterin has been hitting out at Russian president Vladimir Putin over the Ukraine war – and has even taken the time to respond to his Chinese-speaking critics....
Read More: Ethereum's Buterin Reiterates Support for Ukraine, Educates Chinese on Patriotism