Salary payments in USDT stablecoin ruled as illegal in the Chinese court
Tether USDT stablecoin cannot be used for salary payments, a Chinese court ruled, citing the country’s blanket ban on all types of crypto transactions.
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What Does the US FinCEN License Mean for Huobi?
Huobi’s subsidiary, HBIT, has received a license from the US Financial Crimes Enforcement Bureau’s (FinCEN) Money Services Business Registration (MSB). This will help the cryptocurrency exchange to conduct digital currency-related…
The Chinese Unit of Sequoia Capital to Raise $9 Billion for New Funds (Report)
Sequoia Capital’s Chinese subsidiary will reportedly secure $9 billion for four new funds. Those will be distributed towards supporting fintech and cryptocurrency startups in China. According to a coverage by…
Chinese Tech Giants Vow Support Additional Regulations on Digital Collectibles
Chinese tech giants join the state-backed efforts in regulating the digital collectibles by voicing support for the “self-discipline initiative” that ensures identity checks on users, adheres to the country’s ban…
Vladimir Putin Says West’s Attempt to ‘Crush the Russian Economy’ Did Not Succeed
Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.”…
China’s BSN Founder Not Fan of Bitcoin, Calls Crypto a Ponzi Scheme
Yifan He, the CEO of Blockchain-based Service Network (BSN), published an article on June 26 referring to cryptocurrencies as the “biggest Ponzi scheme in human history.” He is also the…
Bitcoin’s short-term price prospects slightly improved, but most traders are far from optimistic
Bitcoin’s derivatives metrics reflect slight improvements since the $17,600 low, but whales and market makers continue to price higher risk of another breakdown.
China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’
Stablecoins like USDT and USDC would be doing just fine if properly regulated, while Bitcoin is a "Ponzi scheme" in any case, China's BSN chair told Cointelegraph.
Tencent Launches Extended Reality Unit to Tackle the Metaverse Market
Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division. The division, named the extended reality unit, will be the one tasked with encompassing all…
Chinese State-Run Media Warns About Bitcoin’s Price Falling to Zero as Regulators Issue Fresh Crypto Warning
A Chinese state-run newspaper has published an article warning about bitcoin’s price falling to zero amid the crypto market sell-off. Meanwhile, financial regulators in Shenzhen have issued a new warning…
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