Chinese billionaire Jack Ma recently agreed to give up control of Ant Group as part of changes to the fintech’s corporate structure, which will supposedly not have an impact on “the economic interests of any shareholders of Ant Group and their beneficiaries.” Once the process is complete, no single shareholder will have control over Ant…
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China’s Tencent Holdings plans to shut down its non-fungible token (NFT) platform Huanhe only a year after its launch. The social media giant has reportedly made the decision because of the strict ban on the resale of NFTs imposed by the authorities in Beijing. Huanhe to Close Down a Year After Launch as China Curbs…
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Meta, Microsoft, Nvidia, Sony, as well as 33 other tech giants racing to build the metaverse have formed a group to create the infrastructure for an interoperable metaverse. Dubbed The Metaverse Standards Forum, the new initiative aims to introduce interoperability and cross-compatibility in the space in order to foster the development of “the open…
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NFTs are still a gray area in China where unlike cryptocurrencies, there’s no official ban on its use, but the authorities have warned investors against the risks from time to time. The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown…
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The firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure, but is no longer listed on its website despite still showing up in Google search results. The cloud business unit of Chinese marketplace giant Alibaba Group Holdings launched a new NFT solution and then promptly deleted all mention of it online.…
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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 Read more »Pay, Trade, Buy Bitcoin with…
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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. China’s leading social media platforms and internet giants have updated their policy to restrict or remove nonfungible token (NFT) platforms, citing a lack of regulatory clarity and fearing government…
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China’s tech giants are hopeful of launching metaverse and non-fungible token (NFT) businesses despite suffering a torrid year at the hands of the country’s vehemently anti-crypto government. Heavy-hitters including JD.com and Alibaba have laid out plans that involve metaverse and NFTs, although regulations have forced them to make cosmetic name changes…. Read More: Chinese…
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Alibaba, the Chinese e-commerce giant, has announced it will no longer allow the sale of cryptocurrency mining gear on its platform. The sales behemoth made this announcement yesterday via its official website. The move is a direct consequence of the latest ban the Chinese government has applied to cryptocurrency trading and mining. Other institutions and…
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The local news publication, acting as the party’s spokesperson, warned of a major decrease in the value of NFT assets once its bubble pops. According to local sources, the Chinese government has released a series of statements denouncing the value of the nonfungible token, or NFT, market, even though two of the nation’s major tech…
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