The Chinese government says theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data. The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences. It outlines three views on…
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The People’s Bank of China (PBOC) is considering using the digital yuan to settle services and commodities trades with Hong Kong. According to Di Gang, deputy director-general of the Digital Currency Institute of the PBOC, this would help companies avoid the difficulties of using a single high-cost, cross-border payment channel. People’s Bank of China Eyes…
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Source: f11photo China’s digital yuan has completed another historic CBDC first, with a Taiwan-based firm “successfully” issuing e-CNY bonds. The offering, an ultra-short-term financing bond, was launched by Xiamen Xiangyu Group (XMXYG), a Mainland Chinese financial firm based in Xiamen that also operates in Taiwan. The media outlet wrote: “This bond is the country’s first…
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The intent behind the tokenization of SFC-authorized investment products is tied to rising market demand and the government’s willingness to facilitate market development. The Securities and Futures Commission (SFC) of Hong Kong laid down the business requirements for offering tokenized securities and other investment products in a circular released Nov. 2. The market demand in…
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BTC Digital used to be a chain of English schools based in Shenzhen. Now it has mining farms in Pennsylvania and Tennessee. China-based BTC Digital announced the purchase of 220 new Bitcoin (BTC) mining units on Nov. 3, bringing its total number of machines to 2,174, with over 230 petahashes per second (PH/s) of computing…
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Source: Pixabay The Tongliang Court in China handed down sentences to 21 individuals, including key figures in a $300 million USDT money laundering case. The massive crypto money laundering case, which spanned from November 2020 to late April 2021, revolved around the actions of the primary defendants, Jiang Moumou and Zheng Moumou. Jian and Zheng…
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The U.K. AI Safety Summit concluded its first day with a common declaration, the U.S. announcing an AI safety institute, China willing to communicate on AI safety, and comments from Elon Musk. The United Kingdom’s global summit on artificial intelligence safety, the AI Safety Summit, began on Nov. 1 and will carry on through Nov.…
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Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is. The Bank for International Settlements (BIS) released a colorful and fact-filled Project mBridge update on Oct. 31. The publication combines technical and promotional discussions in a shift of tone as…
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Source: THINK b/Adobe China’s ride-sharing giant Didi Chuxing has unveiled a new digital yuan service that will let citizens in 250 parts of the nation use their CBDC coins to rent motorcycles. Per the Xi’an Business News Network, the move involves the Didi Chuxing affiliate Didi Qingjue, which operates an app-powered motorcycle-sharing service. Previous developments…
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Petrochina, the largest Asian oil and gas producer, has completed a settlement using the Chinese central bank digital currency (CBDC), the digital yuan. The operation, which involved a purchase of 1 million crude barrels through the Shanghai Oil and Gas Trading Center platform, marks the first time the digital yuan has been used as payment…
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