The Financial Services and Markets Act 2023, a U.K. reform bill that recognizes cryptocurrency trading as a regulated financial activity, received so-called Royal Assent on Thursday to make the bill law, according to a Thursday press release by the U.K. ...

Shanghai, China’s biggest city and the country’s financial capital, on Wednesday released a plan to build out its culture and tourism metaverse projects into an industry generating an annual revenue of 50 billion yuan (US$6.9 billion) by the end of ...

The Shanghai Clearing House, a financial services clearing counterparty under China’s central bank, started digital yuan clearing and settlement services for trading in commodities on Monday, marking another step in the institutional adoption of China’s central bank digital currency (CBDC). ...

Nanjing City, the provincial capital of China’s Jiangsu Province, launched the “Blockchain Technology and Application Innovation Platform of China” on Monday, a state-backed entity committed to promoting and enhancing metaverse studies throughout the nation. See related article: China’s Henan state-owned ...

Virtual assets in China can be legally used to settle basic relations debts such as exchange and labor, despite the nation’s ban on cryptocurrency transactions, the Supreme People’s Court of China stated in a conference earlier this year.  See related ...