$1.5 billion of assets still locked in the Multichain protocol have reportedly been confiscated by Chinese police as part of a money-laundering investigation. However, one source suggests that this is just the latest face of police embezzlement in the country.
BTC went into freefall late this week as the crypto market recorded over US$1bn in liquidations and one of China’s largest companies filed for U.S. bankruptcy. But are the two events linked?
$1.5 billion of assets still locked in the Multichain protocol have reportedly been confiscated by Chinese police as part of a money-laundering investigation. However, one source suggests that this is just the latest face of police embezzlement in the country.
BTC went into freefall late this week as the crypto market recorded over US$1bn in liquidations and one of China’s largest companies filed for U.S. bankruptcy. But are the two events linked?
Asset-Backed Securities are among the most likely candidates for moving onto the blockchain. An empirical study reveals significant benefits from using the technology.
Transactions using the digital yuan have amounted to $250 billion since the start of the CBDC’s pilot phase. China’s Central Bank Governor looked to the next step to increased adoption - cross-border payments
China is doubling down on its efforts to increase the use of the digital yuan. The
Bank of China has started testing offline no-battery mobile payments.
WeChat Pay users can now pay with their palms at the Beijing subway. The biometric payment mechanism will soon be rolled out to other locations, but privacy concerns might setback its adoption
