Nonfungible Tokens (NFTs), according to a Chinese court in the city of Hangzhou, are online virtual properties that need to be protected by Chinese law. A Dec. 5 post by cryptocurrency blogger Wu Blockchain discloses the favorable language for NFTs after the country started to crack down on cryptocurrencies in 2021, placing NFTs in legal […] The post...
China and FTX share one thing in common: crypto clients. The Chapter 11 Bankruptcy filing of the cryptocurrency exchange platform FTX continues to reveal some valuable information about the company that suddenly went kaput. Just recently, through a 30-page document he presented in court, newly appointed...
China, which happens to be a crypto whale according to this CEO, currently owns more Bitcoin than leading institutional investors like MicroStrategy, Galaxy Digital Holdings and Tesla. The Asian nation, which continues to enforce a total ban of the digital asset class, became the de facto owner/holder of 194,000 Bitcoin and 833,000 Ethereum tokens it...
Matthew Pines lays out China’s plan for world domination while reflecting on Bitcoin and the mistakes FTX made when building their inferior system.This is a transcribed excerpt of the "Bitcoin Magazine Podcast," hosted by P and Q. In this episode, they are joined by Matthew Pines to talk about China's plan for world domination and why FTX and Binance are "like a...
Reading Time: 2 minutes Wuhan has edited its metaverse masterplan to exclude NFTs The city’s new metaverse vision now...
Bitcoin broke out of a range to reach almost $21,000. What’s happening with currencies around the world that may be influencing this price action?"Fed Watch" is a macro podcast, true to bitcoin's rebel nature. In each episode, we question mainstream and Bitcoin narratives by examining current events in macro from across the globe, with an emphasis on central banks and currencies....
The Hong Kong government issued a crypto policy statement that clarified its plans to develop "a vibrant sector and ecosystem" for the nascent industry on October 31. The policy statement marks a key change for the government, which had recently...
Ban or no ban, China’s crypto obsession is as strong as ever. Before the government stomped into the cryptocurrency industry, China was arguably the world’s leader. Its exchanges were the biggest and, at its heights, they controlled 70% of bitcoin’s hashrate. The ban was supposed to kill all that, but the roots were too strong. In Bloomberg’s recent “...
Hong Kong is now contemplating changing its crypto trading requirements, in a way attempting to be different from China on the all-out crypto ban. It is now planning to take action as it wants to attain the status of being a global cryptocurrency hub by introducing many legal initiatives that are...
Amid the ongoing global CBDCs adoption, China proposes an Asian-wide digital currency to reduce the continent's economic reliance on the US dollar. USD is unquestionably the most widely used international currency. The International Monetary Policy is also based on the US dollar. Many countries' economies rely on the USD for international trade and exchange, while other currencies are USD-pegged....
China-backed researchers have called for establishing a pan-Asian digital currency to end the dominance of the U.S. dollar in the region, South China Morning Post reported on Oct. 13. According to the report, the economic conditions for creating a regional digital currency are now in place in East Asia....
Bank of China's electronic yuan, or e-CNY, is the most frequently used Central Bank Digital Currency (CBDC) globally as transaction volumes total 100.04 billion yuan, or almost $14 billion. By the end of the summer, 360 million transactions had been completed in 15 provinces under the CBDC pilot program, according to the information posted on […] The post...
The Bank of England is the first to pivot back to quantitative easing, claiming to restore market functioning and reduce risks of contagion.“Fed Watch” is a macro podcast, true to bitcoin’s rebel nature. In each episode, we question mainstream and Bitcoin narratives by examining current events in macro from across the globe, with an emphasis on central banks and currencies....
China has become a hotbed of illicit crypto trade lately. The country has earned quite a reputation in the international community when it comes to scams and illegal activities involving cryptocurrencies. For the past months and years, there have been a number of notable illicit activities originating from the country or involving Chinese nationals that were exposed. For example, in July 2021, more...
The Chinese government has never supported crypto activities since the emergence of the industry. The People's Bank of China took further actions against the digital industry and banned all local digital assets operations. Since the crypto ban in China, the government never stopped ringing a reminder that no digital activity can thrive in the country. But residents of China are still very interested...
The latest report by The Bitcoin Policy Institute goes for the lowest hanging fruit. It tries to convince US politicians that “CBDCs will erode the distinction between America and authoritarianism,” which is true. To accomplish that, The Bitcoin Policy Institute appeals to the cheapest trick in the book: comparing the US to China. The move is so...
Bitcoin (BTC) energy requirement has been the highest source of concern regarding the crypto industry. During mining, its high consumption rate negatively impacts the environment. This issue could cause the government to ban BTC mining if no solution is preferred. Data shows Bitcoin expends nearly 150 tetra watt-hours of electricity yearly, which is more than the energy consumption of some countries. Carbon dioxide...
China's Hengyang County Public Security Bureau arrested 93 suspects involved in laundering 40 billion RMB via cryptocurrencies, local media reported on Sept. 25. According to the report, the criminal group was involved in more than 300 cases of fraud and had been operating since 2018. Authorities in the county started investigations after the director of the County Public Security...
Former French Treasury chief Bruno Bézard, former political advisor to Barack Obama David Plouffe, and other advisers are added to the worldwide group through the exchange. The largest cryptocurrency exchange in the world by trading volume, Binance, has assembled a prestigious group of former government officials to serve as a global board of advisers as […] The post...
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