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China Crypto Roundup (Nov. 22-Nov. 28) :PBoC to Establish Virtual Asset Tracking System

1. Well-known Singapore singer JJ Lin entered in to Metaverse world

The well-known singer JJ Lin tweeted that he had purchased the digital real estate on Decentraland and officially stepped into the Metaverse world.

2. SlowMist: fake wallet apps have caused tens of thousands and lost $1.3 billion

Recently, SlowMist AML team conducted a research based on the information provided by the victims who asked for help. The results of the research show that according to incomplete statistics, there are currently tens of thousands of victims who have been stolen by downloading fake wallet apps, and the stolen amount is as high as $1.3 billion. The proportion of theft due to downloading fake wallet apps accounted for 61%, and the leakage of private key accounted for 28%.

3. Huobi executives registered a new company in Beijing

Huobi executives registered a new company in Beijing on November 15. According to the latest recruitment information, the company may be used for the operation of Huobi Wallet.

4. The State Council of China: Accelerate digital fiat pilot projects

In the latest document, the State Council pointed out that it will accelerate the implementation of digital fiat pilots, implement regulatory tools for fintech innovation, support large banks and other legal entities to establish digital RMB operating entities, and explore the construction of digital asset trading venues.

5. People’s Bank of China (PBoC): will establish a virtual asset transaction traceability and scenario tracking system

Gou Wenjun, director of the AML Monitoring and Analysis Center of PBoC, said that attention should be paid to the risk management of virtual assets from four aspects.

  • First, clarify the non-financial attributes of virtual assets and improve the regulatory policies for emerging virtual assets.
  • Second, strengthen the monitoring and analysis of virtual asset transactions to penetrate and identify the essence of virtual asset transactions.
  • Third, strengthen the innovative application of new technologies and establish a virtual asset transaction traceability and scene tracking system.
  • Fourth, strengthen information sharing and cooperation with overseas financial intelligence agencies to form an international joint force against crimes using virtual assets.

6. China’s An Shan police cracked down a Bitcoin mining spot

The accumulated value of electricity theft amounted to more than 1.2 million yuan. 161 mining equipment’s seized.

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