In a significant move highlighting China’s recognition of the growing importance of virtual assets, the Chinese Trademark Office has recently approved several marks related to NFTs and metaverse goods and services. This development showcases the country’s commitment to embracing the…
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Hong Kong Widens Testing of China’s Digital Yuan to Additional Banks
In the era of rapid digitalization, financial landscapes around the world are evolving at a pace never seen before. One of the most intriguing developments in recent times is China’s exploration of its digital currency, the Digital Yuan, commonly known…
US Lawmaker Opposes CBDC Tracking Purchases Like China’s Digital Yuan
Introduction In recent years, the global financial landscape has witnessed a significant shift towards digital currencies. As cryptocurrencies like Bitcoin gain popularity, governments and central banks worldwide are exploring the possibility of introducing their own digital currencies. One such development…
China looks to implement its social credit system in the Metaverse
China is recognized globally for its social credit system, which keeps citizens in line by putting them at risk of public disapproval and restrictions on their actions. Now, China intends to implement a similar approach to regulate metaverse users. According…
Important Crypto and AI News from China
China is one of the world’s largest economies and is home to more than 1.4 Billion people. These two factors make the Red Dragon a major market mover in traditional finance and the digital assets industry. Its stance on crypto…
Bank of China’s BOCI and UBS Tokenized Securities in Hong Kong
In a significant stride towards the digitalization of finance, BOCI has successfully issued CNH 200 million in fully digital structured notes. This marks the first instance of a Chinese financial institution issuing a tokenized security in Hong Kong. The product…
China’s State-Owned Banks Offer Support to Hong Kong’s Crypto Industry
Banking Hurdles for Crypto Firms Banking for crypto businesses has been difficult due to the anonymous nature of digital assets, which raises red flags for traditional banks that prioritize know-your-client (KYC) procedures. It typically takes three months for crypto-focused companies…
WeChat Now Accepts China’s Central Bank Digital Currency(CBDC) Payments
China’s central bank digital currency (CBDC) continues to gain traction as the country’s leading social media platform, WeChat, has started accepting CBDC payments. This move is seen as a major milestone in the adoption of CBDCs, as WeChat has over…
China Has A $3.9 Billion Bitcoin Stash Despite Hostile Crypto Stance
The Chinese government is a crypto whale, according to Ki Young Ju, co-founder of CryptoQuant, despite its hostile stance toward the sector. Young Ju claims that China has seized $6 billion worth of cryptocurrencies from the PlusToken scam in 2019,…
China Ranks Top 10 in the World’s Crypto Adoption
China, the second largest economy in the world, has returned to the top 10 countries in terms of crypto adoption according to The 2022 Geography of Cryptocurrency Report, a report done by Chainalysis. The Red Dragon dropped to 13th place…
Tornado Cash Receives $3.3M in Ether Following Poloniex Hack Theft
In a shocking incident that sent shockwaves through the cryptocurrency community, a skilled hacker managed…
Bitcoin’s Long-Term Investors Now Possess More Than 76% of All BTC for the First Time. Details below
In the ever-fluctuating world of cryptocurrencies, Bitcoin, affectionately known as BTC, is currently undergoing a…
