Deribit and OKX attract significant traffic from China despite a blanket ban: Report
Recent geographical traffic data highlights that Chinese traders continue to access centralized exchanges despite a regulatory risk.
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Recent geographical traffic data highlights that Chinese traders continue to access centralized exchanges despite a regulatory risk.
China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security.
“We solemnly call on consumers to [...] be vigilant and stay away from NFT-related illegal financial activities,” said the associations.
China has carried out multiple crypto crackdowns and enforced numerous bans on crypto markets since 2013, however, Chinese traders have always found a way to bypass these bans.
Chinese tech colossus Tencent has continued its foray into the metaverse after filing a patent for virtual concerts, flying in the face of warnings from Chinese banks and regulators.
Foreign users tend to use hardware e-CNY wallets more at the Olympics, while domestic users mainly go for software wallets.
Bitcoin and nonfungible tokens are all over the Olympics this year while China’s CBDC is there too amid a controversial rollout.
The cumulative transactions in e-CNY have reached 87.57 billion yuan ($13.68 billion) until now.
The "e-CNY (Pilot Version)" app was made available for download on the Chinese Android and Apple app stores on Tuesday.
Despite the Chinese central bank's proposal to monitor metaverse and NFTs, companies such as Tencent and Huawei are pursuing metaverse-related trademarks.