China Financial News

BEIJING — China's economic recovery from the pandemic is set to broaden, meaning the country isn't headed toward Japan-style stagnation just yet, according to Macquarie's Chief China Economist Larry Hu.

China's perspective on web3 has come to light through a recently released white paper that suggests China is open to incorporating web3 into its future internet.

Major crypto exchange Gate.io has threatened to take legal measures against those spreading rumors of its possible bankruptcy. 

Hayden Adams, the creator of the Uniswap protocol, recently expressed his surprise on Twitter regarding a scam where individuals created a fake Uniswap website.

Digital yuan payment adoption is stepping up in China ahead of the Asian Games, with venue cities rolling out a range of central bank digital currency (CBDC) transport options.

Just over six months after FTX’s dramatic collapse, the crypto industry can finally begin analyzing the effects of the debacle. The quick ripple effect to other crypto businesses drained liquidity from the industry and prolonged the crypto winter, with Silvergate Bank, BlockFi and Genesis Global Capital among those hit by the exchange’s collapse.

Galaxy Digital CEO Mike Novogratz believes the crypto market lacks momentum to move higher as Bitcoin posts its first monthly loss of the year.

Billionaire Tron (TRX) founder Justin Sun has predicted that tokenized know-your-customer (KYC) checks will become increasingly prevalent as regulations tighten, while offering his own identity token that grants holders "citizenship" in Dominica’s metaverse.

Momentum in crypto markets shows no sign of slowing down, as Hong Kong Inu ($HONG) explodes +50,000% in earth-shattering pump dawning a return to February's Chinese narrative.

Hong Kong's financial regulator finally implemented its new regulatory framework for crypto on the first of June.

As the cryptocurrency industry faces regulatory challenges in the United States, public crypto exchange Coinbase is moving forward with its futures contracts.

Galaxy Digital CEO Mike Novogratz has described the broader crypto market as being “lackadaisical” — or lacking enthusiasm — due mainly to a shying away of institutional investors from cryptocurrencies.

BEIJING — Chinese electric car startup Li Auto said it delivered more than twice as many cars in May versus a year ago.

Global search interest for the term “AI” has reached a new all-time high on Google, though it’s yet to hold a candle to Bitcoin (BTC) peak mania in 2017, data has revealed.

British multinational bank Standard Chartered and PwC China have teamed up to produce a white paper on applications for central bank digital currency (CBDC) in the so-called Greater Bay Area of China – Guangdong Province, Hong Kong and Macao. Programmability will make all the difference, they concluded.

The 2023 crypto cycle has been dominated by eye-catching crypto narratives garnering immense traction - sending low-cap altcoins surging. 

Hong Kong has decided to let retail investors trade cryptocurrency under its new regulatory regime because «virtual assets are going to stay», the city's minister overseeing financial services said Tuesday.Cryptocurrencies have been banned in mainland China since 2021, but the former British colony, which has a separate financial system and regulators, has announced plans to become a major digital asset hub. From June 1, authorities will begin accepting applications for licences from cryptocurrency exchanges that will allow them to sell major tokens including bitcoin and ether to individual traders. «Despite the potential risks involved, (virtual assets) also carries with it fundamental value,» Christopher Hui, Hong Kong's secretary for financial services and the treasury, told AFP in an interview.

The Australian government has announced a sudden eight-week consultation that will seek to understand whether any “high-risk” artificial intelligence tools should be banned.

The Winklevoss-owned crypto exchange Gemini has announced that it has begun the process of acquiring a crypto service license for customers in the United Arab Emirates (UAE).

US Sen. Elizabeth Warren called out cryptocurrency’s role in fentanyl drug transactions and pushed for her bill to combat money laundering during a congressional hearing on Wednesday.

Massachusetts Sen. Elizabeth Warren has suggested a link between cryptocurrency payments and companies based in China that provided precursors for the opioid fentanyl.