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Central Bank of China Calls for Increasing Use of Digital Yuan


The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers....

China to Crack Down on Copyright Infringement Through NFTs


Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments....

Report: Chinese Metaverse Industry Raises $780 Million in Funding


The Chinese metaverse industry has reportedly raised about $780 million in funding and there are expectations this will grow to be a $5.8 trillion industry by 2030. So far there are 160,000 virtual human enterprises in China while 20 provinces or cities in the country are reportedly supporting...

Oil falls Due to USD and China Lockdowns; Gold Nears $1700


As China continues to struggle in its battle against the COVID pandemic and concerns of a worldwide recession mount as rates rise, crude oil prices are plummeting. OPEC+ is expected to discuss output reductions at their meeting on September 5; however, despite Friday’s increase in oil prices...

China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses


Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency. Residents and Visitors...

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