With 11 megalopolises and three currencies, Guangdong, Hong Kong and Macao make up a region that is ripe for central bank digital currency research. British multinational bank Standard Chartered and PwC China have teamed up to produce a white paper on applications for central bank digital currency (CBDC) in the so-called Greater Bay Area of…
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Cross-chain services are suspended for Kekchain, Public Mint, DynoChain, Redlight Chain, Dexit, Ekta, HPB, Onus, Omax, Findora and Planq. Cross-chain protocol Multichain revealed on May 31 that its team has been unable to contact its CEO, Zhaojun, fueling rumors that the protocol’s leadership may have been arrested in China amid ongoing technical issues. “The team…
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A Trust Reserve stablecoin team was detained by police in China on May 29, according to PANews. The news outlet reported that the team “had been taken away by the police and detained, and the family members of some employees had been notified.” The office in Shanghai was vacant and had a seal of “Judicial…
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Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency and warned that innovation is moving offshore. Countries like China will benefit from “restrictive U.S. crypto policies,” Armstrong said in a MarketWatch opinion article on Tuesday. … Read More: Coinbase CEO Criticizes US Lawmakers, Regulators Over Regulatory Approach,…
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Hong Kong’s ambition to become a crypto hub may not be sustainable, according to a Chinese crypto veteran whose digital asset business in China was overturned by a regulatory crackdown. In an interview with Bloomberg, crypto pioneer Bobby Lee, who set up China’s first Bitcoin exchange and founded US-based crypto storage provider Ballet Global, warned that…
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Chinese autonomous vehicle startup Pony.ai has introduced its driverless robotaxi service in Shenzhen. On Monday, the autonomous vehicle technology company revealed that it has received a permit in Shenzhen to conduct robotaxi services without an onboard safety officer in the city’s core areas, according to a report by CnEVPost…. Read More: Pony.ai Introduces Driverless Robotaxi Service in…
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Chinese healthcare and energy sector providers will allow patients and customers to pay with the digital yuan, in new breakthroughs for the nation’s central bank digital currency (CBDC). Per the Chinese media outlet WXRB, both outpatients and hospitalized mental healthcare patients can now use the CBDC to pay for medical treatment. Deposits, medication, and hospitalization…
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The Beijing Municipal Science and Technology Commission has released a white paper in a bid to foster innovation and development within the Web3 industry. Dubbed the “Web3 Innovation and Development White Paper,” the paper was unveiled at the Zhongguancun Forum by the Beijing Municipal Science and Technology Commission, also known as the Administrative Commission of…
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The release of the white paper coincides with new digital asset regulations in Hong Kong, raising further interest in China’s stance toward the crypto industry. Beijing’s municipal government has unveiled a white paper to foster innovation and advance the Web3 industry. The “Web3 Innovation and Development White Paper” was revealed at the Zhongguancun Forum by…
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Cointelegraph analyst and writer Marcel Pechman explains why the cryptocurrency market has lost 60% of its market cap, with the S&P 500 only about 15% from its all-time high. Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms,…
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