Web3 Industry Leaves New York Due to Restrictive Regulations, While Hong Kong Encourages Innovation and Growth
June 30 (Cointime) - The Web3 industry is leaving New York due to the US regulators' restrictive approach, causing a decline in the city's global relevance. In contrast, China and Hong Kong have implemented common-sense regulations that have led to Hong Kong's recovery as a global cryptocurrency hub.
Chinese Energy Providers Embrace Digital Yuan for Bill Payments
June 30 (Cointime) - Energy providers in China are now accepting digital yuan payments for settling bills. The State Grid Corporation of China (SGCC) is leading the adoption efforts and has set up a working group to help corporate users and local government organs use the CBDC for settling bills. The SGCC's Xiangcheng District affiliate, the local finance bureau, and the city's business support center are part of the working group. The city of Zhangjiakou, which hosted events during the 2022 Winter Olympic Games, will also roll out a range of digital yuan applications, including accepting payments for goods and services using the CBDC.
US Officials Consider Tighter Controls on Export of AI Chips to China
June 29 (Cointime) - US officials are considering stricter controls on the export of artificial intelligence (AI) chips to China, with an update to the rules expected by late July. The regulations would likely limit the computing power of chips that can be exported, causing concern among major players in the industry.
Unveiling the Potential of AI-Metaverse Integration
June 27 (Cointime) - Tech giants like Meta are shifting their focus to AI, indicating that the metaverse may be taking a backseat. Despite claiming that the metaverse remains a priority, Meta's move reflects the growing interest in AI's potential.
Turkey's Interest Rate Hike Could Attract New Crypto Investors, China's Economic Crisis May Affect Bitcoin: Analyst
June 26 (Cointime) - In the latest episode of Cointelegraph's Macro Markets, analyst Marcel Pechman discusses how Turkey's recent interest rate hike could attract new cryptocurrency investors, and how China's economic crisis could impact Bitcoin and crypto globally.
Joseph Tsai, Crypto Investor, to Become Chairman of Alibaba
June 20 (Cointime) - Joseph Tsai, a co-founder and current executive vice chairman of Alibaba, will be taking over as the company's chairman. Tsai, who is known for his interest in cryptocurrency, has invested in FTX and other crypto startups through his family office, Blue Pool Capital.
China and Malaysia Collaborate To Use AI and Blockchain To Improve Cross-Border Trade
June 20 (Cointime) - China and Malaysia are collaborating on a project to pioneer the integration of Artificial Intelligence (AI) and blockchain technology to enhance cross-border trade processes.
Summer World University Games in China to Use Digital Yuan as Official Payment Method
Student athletes from around the world will be able to use China's digital yuan at the Summer World University Games in Chengdu in July.
Beijing Launches China's First Metaverse Patent Pool to Attract More Enterprises
June 15 (Cointime) - Beijing has established China's first patent pool for metaverse, which currently contains approximately 170 metaverse-related patents. The initiative is part of the city's plan to attract more than 100 metaverse companies by the end of 2024. China is interested in the metaverse's potential benefits for real-world industries, and the government has released a Web 3.0 whitepaper outlining its plans to develop the metaverse industry. Despite China's national metaverse strategy, some of its largest technology companies, such as Tencent and Baidu, appear to be losing interest in the metaverse.
China May Reconsider Cryptocurrency Ban, Opening Door to Lucrative Market
China may be reconsidering its ban on cryptocurrency, potentially opening up a profitable crypto market. Recent regulatory developments in Hong Kong and technological advancements in mainland China suggest that the ban on crypto may finally be lifted.
