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Tag Archives: China

China’s Electric Vehicle Maker Xpeng is Selling NFTs on Alibaba

Apr 12, 2022

The Chinese electric vehicle manufacturing company Xpeng has joined the growing list of establishments that are deploying Non-Fungible tokens, popularly called NFTs for various purposes. Xpeng’s use of the innovative technology is for marketing purposes while marking the occasion of rollin...

WeChat to Support Digital Yuan Pilot Program

Apr 8, 2022

China’s social media giant WeChat has concluded plans to support the nation's pilot program for the Central Bank Digital Currency (CBDC) also known as Digital Yuan. The plan which was initially revealed in the early days of 2022 is now set to kick-off, according to recent announcement...

China Reiterates Intention to Regulate NFTs

Apr 7, 2022

It is almost one year now since China initiated a ban on cryptocurrency mining, crypto transactions, and other businesses related to cryptocurrencies. In the beginning, the majority of participants thought that the ban would go the way of the previous pronouncements which didn’t find a follow-th...

WeChat Embarks on Large-scale NFT Regulation on its Platform

Mar 31, 2022

Leading Chinese social media platform, WeChat has initiated a large-scale regulation process that involves the banning and restriction of NFTs that do not meet up to its recently stipulated conditions.  Recently, the platform, through its parent company, Tencent modified the rules guidi...

Another Mining Hub Discovered in China, 190 Mining Equipment Seized

Mar 24, 2022

The campaign against cryptocurrency activities in China registered another milestone this week. A secret mining hub was discovered and 190 mining machines worth over $790K confiscated. The raid to discover this illegal installation was carried out in the Jieyang city of the Guangdong province...

Tencent and Alibaba Tighten NFT Rules to Avoid Regulatory Crackdown

Mar 23, 2022

In a move that is largely assumed to be proactive, China’s tech giants, Tencent and Alibaba have modified their NFT rules. These modifications are believed to be aimed at discouraging any moves by Chinese regulators to crack down on the emerging industry. Top among the concerns of the ...

Ten Arrested in Shanghai Over $16M Crypto Pyramid Scheme

Mar 16, 2022

Over ten people have been arrested in Shanghai, China for their involvement in a pyramid scheme operated using cryptocurrencies. The arrest was the end product of an investigation carried out by the Shanghai Public Security Bureau and the Yangpu Public Security Bureau. According to repo...

China Offers $25,000 Prize in Crypto Miner Identification Contest

Mar 16, 2022

The clampdown on cryptocurrency mining has been a major subject in China since the middle of 2021. Different approaches have been employed by the government authorities to clear out cryptocurrency mining activities from the region. The reasons for the clampdown include the quest for financial su...

Alarm Raised Over EU’s MiCA in Wake of China Crypto Ban

Mar 14, 2022

Olusegun Ogundeji

In post-China crypto ban days, the European Union (EU) is putting up to vote a new regulation which a French member of parliament, Pierre Person, says “definitively condemns the future of crypto-assets in Europe.” A decision is to be made on the Markets in Crypto Assets (MiCA) ...