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Chinese Authorities Prosecute Alleged Masterminds Behind MDC Pyramid Scheme


Chinese authorities in Rong County recently said they have prosecuted eight individuals accused of being the masterminds behind the Magic Data Chain (MDC) pyramid scheme. The pyramid is thought to have handled transactions with a total value of over $147 million. Virtual Currency Pyramid Scheme...

Chinese Banks Launch Automatic Digital Yuan-to-Fiat Conversion Tools


  Chinese banks are exploring new methods of enabling digital yuan users to earn interest on their central bank digital currency holdings – with “smart management” tools that can detect when funds have been left idle for long periods of time.... Read More: Chinese Banks Launch Automatic Digital...

Kids 'Tipping' Streamers & Watching After 10pm Is Being Banned In China


On Saturday the Chinese government announced a number of changes to the way kids can access and interact with content online, with the National Radio and Television Administration saying “platforms need to step up controls to stop underage users from tipping livestreamers or becoming livestreamers...

Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow


  The e-payments giant Alipay, part of the Alibaba business empire, has added an advanced search function for users wishing to use its platform to make payments using the digital yuan within the fast-expanding pilot zone.... Read More: Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow

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