Concerns over the potential misuse of AI have prompted the U.S., U.K., China and the G7 to speed up regulation of the technology, but Europe is already ahead.
China, a global economic powerhouse with the world’s largest population, drives significant global trade marked by rapid industrialization and economic growth. China once served as a center for crypto trading and had a vibrant ecosystem of exchanges. However, in 2017, the Chinese government outlawed domestic cryptocurrency exchanges and initial coin offerings (ICOs) because of concerns about financial stability.
China intensified its regulations in 2021 by focusing on crypto mining — once a massive industry in the nation — citing concerns about speculative risk, financial stability and energy usage. Despite its hardline stance on cryptocurrencies, China is actively pursuing blockchain technology adoption across various sectors, including finance, supply chain and urban planning.
Blockchain parks and incubators have been established in various provinces and towns to aid new businesses and established firms specializing in blockchain technology. With its Digital Currency Electronic Payment system — a state-backed digital currency managed by the People’s Bank of China — China is at the forefront of central bank digital currency development. China wants to internationalize its currency and lessen reliance on the United States dollar in international trade and finance, and its CBDC, the digital yuan, is a component of that effort.
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Bitcoin price keeps going up, but retail traders are not piling in yet. Cointelegraph explores why.27199
Despite a downturn in its bottom line, the company has secured a deal with an institutional investor to potentially raise $125 million in capital.2951
A total of four foreign banks have integrated China’s e-CNY CBDC thus far.3298
BTC’s correction reveals a disconnect between pro traders’ confidence and retail investors’ skepticism amid regulatory shifts.15365
Experts predict the global quantum computing sector will have grown from about $930 million in 2023 to $6.5 billion by 2030, but some global markets may be better poised for growth than others.4505
The British bank will provide e-CNY CBDC services to clients and explore its future use in China’s financial system.2384
Some believe that hybrid blockchains with both private and public aspects can solve AI’s black-box problem.1604
The CBDC-like bakong provides digital payment services in riel and the U.S. dollar. It has been steadily extending its regional scope.6864
The BSN Foundation’s “non-cryptocurrency” approach aims to create a stable network that would not be as volatile as traditional cryptocurrencies like Bitcoin.1683
Bitcoin’s latest price pullback to $35,000 was driven by softer U.S. inflation, China’s economic challenges and regulatory uncertainties.10470
Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval.30552
U.S. Treasury Secretary Janet Yellen said she is looking forward to hearing from the finance ministers of some of the world’s most crypto-forward countries.20927
Crypto security firm SlowMist has discovered several wallet addresses linked to a phishing scam that drained hundreds of thousands of dollars from unsuspecting crypto users.3688