17:00 Today in Crypto: Thailand May Banish Facebook Because of Crypto Scam Ads, Terra Freezes Website Due to Phishing Scams, Phantom Launches the 'Sign In With Solana' Feature
Sichuan Province of China Targets Metaverse Industry Expansion to Reach $34.4 Billion by 2025 Source: Pixabay Sichuan, a southwestern Chinese province, once recognized as a thriving crypto mining hub prior to the national ban on mining, is now looking to expand the metaverse industry. Sichuan’s government unveiled an ambitious draft action plan with an aim to cultivate the nascent metaverse industry into a colossal market worth 250 billion yuan […]
Today in Crypto: ETFs 'May Account for 10%' of BTC Market Value in 3 Years, Jacobi Lists Europe's 1st Spot Bitcoin ETF, Binance Asks for Protective Order Against the US SEC, Dasset Exchange Begins Liquidation
China’s new AI regulations begin to take effect The Chinese has government loosened its original guidelines for AI it released in April and scheduled them to take effect starting on Aug. 15. News Join us on social networks China’s provisional guidelines for artificial intelligence (AI) activity and management in the country are scheduled to come into effect on Aug. 15. The regulations, which […]
Chinese man sentenced to 9 months in prison for buying 13K in USDT China has been harshly enforcing its crypto ban since the start of the year, cracking down on individuals and projects alike. News Join us on social networks An individual, identified only as Mr. Chen, has been convicted by the Fuzhou Mawei People's Procuratorate on charges of "offense of concealment and concealment of crime" for purchasing […]
Binance drops majority of USD Coin reserves — Latest USDC news This week’s episode of The Market Report explores the reasons why Binance let go of a majority of its USDC reserves and what it replaced them with. Cointelegraph YouTube Subscribe Join us on social networks In the most recent episode of The Market Report, analyst and writer Marcel Pechman delves into the topic of crypto […]
Hong Kong Aims to Thrive as an International Crypto Hub Despite Global Scrutiny Source: AdobeStock / ronniechua The first licenses in Hong Kong have been issued to crypto companies under a new regulatory regime, as the city continues its plans to become an international crypto hub. But vital hurdles remain. The new rules took effect this year allowing retail investors to trade crypto on exchanges licensed by the Securities […]
Japanese startup to use stablecoins and CBDC to link Asian countries Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia. News Join us on social networks Japanese blockchain startup Soramitsu is exploring new central bank digital currency (CBDC) applications with a new project on the cross-border payment system for Asian countries. Soramitsu will deploy Cambodia's CBDC […]
China Minsheng Bank, JD.com Unveil Digital Yuan Collaboration Source: Eagle/Adobe China’s Minsheng Bank has announced it is teaming up with the CBDC-keen e-commerce giant JD.com to launch a digital CNY-powered payment service. Per Shzhidao (via Sohu), Minsheng customers in the CBDC pilot zone are now able to link their bank-issued digital wallets to their JD accounts and make CBDC payments on the platform. […]
Weekend Wrap: Celsius’ Mashinsky fraud suit is on, Tether class suit dismissed and more The former Celsius CEO has been denied a lawsuit dismissal, Tether celebrates a minor court victory and China vows to crack down on telecoms fraud using crypto and AI. Recap Join us on social networks Celsius' Mashinsky motion to dismiss denied The former chief executive of crypto lending platform Celsius Network, Alex Mashinsky is back […]
Huobi's TVL drops to $2.5B amid rumors of insolvency, investigations in China The exchange faces ongoing rumors about its stablecoins reserves and an alleged investigation by Chinese authorities. News Join us on social networks Cryptocurrency exchange Huobi has seen outflows worth $64 million between Aug. 5-6, amidst ongoing rumors about its solvency and that Chinese authorities were investigating its executives. Outflows over the weekend resulted in the […]
Today in Crypto: Bank of Russia Reveals Official CBDC Logo, Revolut Shuts Down Crypto Platform for its US Customers, US DoJ Asks Sam Bankman-Fried's 'Bail be Revoked and Defendant be Detained' Source: AdobeStock / vejaa Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ CBDC news The Bank of Russia (BoR) revealed the official logo of the country's central bank digital currency (CBDC), the digital ruble. The logo is the ruble symbol within […]
China Emerges as Binance's Key Market Despite Cryptocurrency Trading Ban Source: Pexels China has emerged as the biggest market for major crypto exchange Binance, despite a ban on crypto trading in the country. According to a Wall Street Journal report from Wednesday, Binance users located in China traded crypto worth as much as $90 billion in a single month this year, accounting for 20% of […]
Today in Crypto: Binance Denies Reports of Its Activities in China, Coinbase is Looking Into Adding Bitcoin Lightning Network, OKX Launches Account Abstraction Feature, Hyundai & Kia Partner With Hedera Source: AdobeStock / Ahmed Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ Exchange news China is Binance's largest market, with the exchange seeing $90 billion of business there, the Wall Street Journal reported, citing documents it reviewed. The country is a […]
Mixed signals: Binance denies reports of $90 billion in crypto trades in China Binance has refuted claims published in the Wall Street Journal that despite China’s crypto ban, the exchange has conducted billions in crypto-related business in the country. News Join us on social networks Binance has reportedly continued operations in China, despite the country’s ban on cryptocurrencies, even conducting billions of dollars worth of transactions monthly, according […]
China’s Blockchain Plan For Shanghai By 2025 China’s commitment to the blockchain sector remains steadfast as it gears up to develop blockchain infrastructure in Shanghai by 2025. The city’s governor unveiled an implementation plan on July 31st, outlining the strategic goal of advancing Shanghai’s digital development. The plan is set to promote the widespread application of blockchain technology in the economy and […]
21 Arrested in China for $54M USDT Money Laundering Investigation Source: AdobeStock / rabbit75_fot Authorities in China's Shanxi Province have arrested 21 individuals allegedly involved in a major Tether (USDT) money laundering scheme. The scheme, estimated to have generated over $54 million, utilized the US dollar-backed stablecoin USDT to launder money, the country’s national broadcasting service CCTV reported on Tuesday. According to police investigators, the suspects operated across four provinces and had […]
Hong Kong would not go crypto without China’s approval: Animoca exec China looks at Web3 as a powerful tool to challenge the United States’ technological and economic hegemony, the Animoca co-founder said. News Join us on social networks Hong Kong’s rapid adoption of cryptocurrencies and Web3 is a sign of some “big moves” happening in mainland China, a co-founder of the local game software firm Animoca […]
Today in Crypto: Multichain Halts Operations Due to Lack of Funds and CEO's Arrest, Indonesia to Launch National Crypto Exchange This Month, US SEC Acknowledges Bitwise's Spot BTC ETF Application Source: AdobeStock / ADS Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ Police news Cross-chain project Multichain announced that it ceased operations due to a lack of operational funds. It confirmed that CEO Zhaojun was detained by Chinese police who took […]
Today in Crypto: BNB Beacon Chain Upgrade Will Allow It to Halt New Block Production, Europe's First BTC ETF Set to Launch Next Month, Digital Yuan to be Used Offline, BitMEX Traders Can Form Guilds
Bank of China trials offline payments for digital yuan via SIM cards The bank plans to enable users to make phone payments by integrating its e-CNY app with specialized "super SIM cards" that have near-field communication capabilities. News Join us on social networks Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to […]
Chinese Central Bank Unveils SIM Card-based Offline CBDC Wallet Source: Alexey Novikov/Adobe The Chinese central bank has unveiled an offline SIM card-based digital yuan “hard” wallet solution that lets users pay with the central bank digital currency (CBDC) with powered-down phones. The innovation could eventually allow 2G phone-owning citizens to use their handsets to use the token when their phones are off. A similar […]
Today in Crypto: Crypto's 'Inherent Structural Flaws' Make It Unsuitable for Monetary System, BIP39 Mnemonic Phrases Can be Turned into Colors, Dev Says He Reverse-Engineered Brazil CBDC Source Code, Algofi to Shut Down
US lawmakers allege CCP connection in calling for SEC, DoJ investigation of Prometheum Republican members of Congress stepped up their allegations of Prometheum’s ties to the Chinese Community Party, claiming potentially false or misleading statements to the SEC. News Join us on social networks Six members of the United States Congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, […]
