China To Launch First Regulated NFT Marketplace Next Week
China will launch its first regulated platform that will serve as a secondary market for NFT and digital asset copyrights. According to a report from the local news source Sina News that was released on December 28, China will launch its first regulated platform for trading nonfungible tokens (NFT) on January 1, 2023. The state-owned […]
Chinese court rules NFTs are legally protected virtual property
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 […]
China’s CBDC transactions volume crosses $14B mark
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 […]
Binance Appoints Government Officials to Set Up Advisory Board
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 […]
Chinese court rules salary payments in USDT as illegal
A Chinese court has ruled against salary payment using Tether USDT stablecoin as illegal citing the government’s ban on all types of cryptocurrency transactions last year. According to the local news outlet Beijing Daily, the Chaoyang District People’s Court in Beijing has decided that stablecoins like USDT cannot be used for wage payments. Due to […]