Report: Ant Group to overhaul structure per agreement with China authorities
Several of Ant Group’s offerings including the blockchain division will reportedly become part of a financial holding company. Ant Group, the financial affiliate of China’s e-commerce giant Alibaba, has reportedly reached an agreement with Chinese regulators over the company's status.According to a Feb. 3 report by Bloomberg, Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company.Ant Group’s new status will reportedly make it subject to capital requirements similar to those for Chinese banks. The agreement will impact....
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Authorities in the EU are moving closer to a deal on a legislative package tailored to comprehensively regulate the crypto market and related activities in Europe. According a media report, an agreement on the key legislation is likely to be reached as early as this month.
Deal on EU Crypto Law Expected by End of June, Sources Say
Representatives of relevant institutions in the European Union are approaching consensus on the Markets in Crypto Assets (MiCA) proposal aiming to introduce union-wide rules for the crypto industry, Bloomberg reported, quoting knowledgeable....
OK Group will start working with Chinese authorities to combat money laundering using distributed ledger technology. OK Group, a blockchain technology firm formerly behind cryptocurrency exchange OKEx, will start working with Chinese authorities to combat money laundering using blockchain technology.The company’s settlement-focused subsidiary OKLink has reached a partnership with Nanjing Public Security Research Institute to collaborate on applying blockchain tech for Anti-Money Laundering purposes.The institute announced that the partnership will include in-depth cooperation with OKLink....
Ernst & Young (EY), one of the “big four” services firms in the world has entered an agreement with The Bitfury Group, best known for its stature as a major bitcoin mining firm. A report from CNBC reveals the agreement will see The Bitfury Group provide blockchain software services to EY and its client network. The agreement comes soon after Bitfury made a splash at a recent EY Startup Challenge competition. Proposing a blockchain solution for digital rights management, The Bitfury Group won the accolade for the “Best Pitch” in the competition, where the bitcoin-centric firm sought to....
A new report from the United States-China Economic and Security Review Commission (USCC) has been published [direct link], and it's all about bitcoin in China. Specifically, the report dives into bitcoin's uncertain future in China - a topic we've been hearing plenty about over the past few months. There's been rumors, shut-downs, and mostly uncertainty - all with mostly negative effects on the price of bitcoin. Bitcoin is changing the way the world thinks about money, and its impact is growing, especially in the United States. The driving force behind Bitcoin's explosive growth in 2013....
NFTs are still a gray area in China where unlike cryptocurrencies, there’s no official ban on its use, but the authorities have warned investors against the risks from time to time. The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100.According to a report published by a local Chinese daily, the sharp rise in the number of NFT platforms comes amid the growing hype and popularity of the digital....