Shanghai Prosecutors Expose Virtual Currency Fraud Scheme Worth Over $4.8 Million

Defendant Wu and his associates tricked investors through a fake facial recognition promotion, forcing them to buy a worthless token called GDFC and later a manipulated token ME, defrauding more than 35 million yuan ($4.8 million). Prosecutors have since charged Wu with fraud.

Aug 28, 2025

Stablecoin Push in Hong Kong Could See Partnerships Between Chinese Tech Companies and Digital Banks

Chinese technology giants are expected to collaborate with Hong Kong’s digital banks to drive stablecoin issuance, tapping into opportunities in cross-border payments and asset tokenization. Futu Securities has already signaled plans to let users hold and invest with stablecoins, highlighting growing institutional interest.

Aug 26, 2025

China Encourages Financial Institutions to Adopt Blockchain and AI Technologies to Simplify Business Processes

This initiative reflects China's broader strategy to leverage emerging technologies for economic growth and industrial modernization.

Aug 09, 2025

China's 28M-User CaoCao Mobility Teams Up with Victory Securities for Virtual Asset Strategic Collaboration

This strategic move underscores the growing interest in integrating cutting-edge digital financial tools into traditional industries. It also highlights the potential of blockchain technology to transform the way businesses operate, particularly in sectors like mobility and transportation.

Aug 06, 2025

China’s Hainan Free Trade Port Bets on Underwater AI Data Centers to Power Web3 and Digital Trade

China’s Hainan Province is targeting a $30 billion digital economy by 2027 as it prepares to launch full Free Trade Port operations in December, aiming to become a global hub for Web3 innovation, AI infrastructure, and cross-border digital trade.

Aug 05, 2025

China's CCTV Spotlights Trump Crypto Tokens as Beijing Accelerates Blockchain Push Amid U.S. Regulatory Pressure

China’s CCTV highlights Trump-linked tokens and stablecoins, while Animoca’s Yat Siu suggests U.S. regulatory pressure may be prompting China to accelerate its crypto and blockchain initiatives.

Jul 28, 2025

UK Government Prepares to Sell Nearly 61,200 Bitcoin Seized from Chinese Ponzi Scheme to Address Budget Deficit

Seized Assets Held in UK Await Liquidation Amid Legal and Logistical Challenges, Raising Concerns Over Increased Selling Pressure and Market Volatility for Bitcoin.

Jul 21, 2025

Stablecoins in China Yiwu: Separating Myth from Market Readiness

Despite viral claims that thousands of Yiwu merchants are accepting stablecoins, on-the-ground investigations have revealed limited adoption, with most merchants either unfamiliar with them or concerned about regulatory risks. Still, stablecoins present a faster, more cost-effective alternative to traditional payment methods and could significantly improve cross-border trade for global hubs like Yiwu if clear regulations are established.

Jul 10, 2025