A drop in crypto prices is expected before Spring Festival as Chinese miners cash out. Five projects disappear from Binance Smart Chain, taking $3 million.
Regulators completely banned on Jan. 15 the sale of bank deposit products on third-party platforms to minimize risk from highly leveraged banks.
The public digital yuan lottery in Chengdu will be the biggest one yet, distributing RMB 50 million to lucky winners via red envelopes.
The new antitrust rules for China’s digital payment market could trigger a regulatory review of Ant Group and Tencent based on market share.
Douyin Pay was recently added to the app, allowing users to buy virtual gifts for livestreamers and pay for goods on the app’s e-commerce platform.
The Alibaba and Ant Group founder, Jack Ma, made his first public appearance in months at a video conference with rural teachers.
Ant Group employees can use the Alipay app for digital yuan transactions in select locations, including the Lujiazui district in Shanghai.
PayPal is the first foreign firm to fully own a licensed payment operator in China, as regulators seek to liberalize the finance sector.
This forum will gather more than 160 global political leaders, financial and investment experts, and economists from all over the world to discuss economic trends and post-pandemic recovery plan.
The digital yuan is trialed again in Shenzhen, at ATMs and via a smart card. Crypto mining rig prices soared as Bitcoin hit the $41,000 mark.