• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Thousands of Chinese firms “rushed” into the metaverse regardless of the ongoing crackdown

190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Despite the People’s Bank of China (PBoC) proposal to oversee the metaverse and NFT, the country’s significant tech firms are nonetheless aggressively pursuing the discipline.

Thousands of Chinese companies "flocking" in the metaverse despite the ongoing crackdown
Thousands of Chinese firms “rushed” into the metaverse regardless of the ongoing crackdown

In early December, China extended its crackdown to the metaverse and NFT, which was a significant induce of the collapse of industry traction at the time, creating Bitcoin (BTC) to collapse just before it occurred. to $ 42,000.

Related articles

SBI Holdings has set up a $663 million fund to invest in Web3, AI and Metaverse

SBI Holdings has set up a $663 million fund to invest in Web3, AI and Metaverse

November 9, 2023
A Chinese court sentenced two masterminds to 6 years in prison for helping to illegally launder 300 million USDT

A Chinese court sentenced two masterminds to six many years in prison for assisting to illegally launder 300 million USDT

November 2, 2023

Ahead of a summit in November, Gou Wenjun, director of the PBOC’s Center for Analysis and Anti-Money Laundering, when once more warned of the dangers of cryptocurrencies. According to Gou, cryptocurrencies can be applied for unlawful monetary pursuits. Chinese banking institutions have also commenced educating persons about the dangers of cryptocurrencies.

However, ignoring the PBOC’s warnings, a lot of Chinese firms hastily registered trademarks associated to the metaverse. According to the South China Morning Post, to date, extra than one,360 Chinese firms have filed eight,534 trademark applications associated to the metaverse.

Most of the firms applying are major Chinese tech firms, such as significant names like Huawei and Hisense. Huawei is registered with “Meta OS” although Hisense focuses on diverse regions this kind of as social solutions, marketing and science.

Giant Tencent also joined the campaign, recording almost a hundred trademark applications associated to the metaverse such as “QQ Metaverse”, “QQ Music Metaverse” and “Kings Metaverse”.

Tencent mentioned it is focusing on metaverse-like developments with a new state-of-the-art gaming studio https://t.co/0CpQbrzxd8

– South China Morning Post (@SCMPNews) October 20, 2021

The over improvement might not shock a lot of as demand for NFTs is on the rise, but it is well worth noting that the occasion is occurring in the context of a “messy” crackdown by the Chinese government and the PBoC. .

Therefore, if the wave of massive firms continues to be pushed to a head, China will want to consider extra certain measures to remedy the dilemma, consider more powerful action to quell the trend, or commence calming. cryptocurrency industry in common.

Remember, China has created comparable moves in the previous. For a comprehensive comprehending of the timing in the war in between China and Bitcoin, readers can understand by means of the video under:

However, in addition to the PBOC warning, the People’s Daily, the official newspaper of the Communist Party of China, also issued a warning about the metaverse on December 9, in purchase to even more emphasize to the persons of the nation the nature of the Communist Party of China when you invest in this area.

Synthetic Currency 68

Maybe you are interested:

Maybe you are interested:

Tags: ChinesecompaniescrackdownMetaverseongoingrushedThousands
Share76Tweet48

Related Posts

Trump Sets Trade Deadline to Avoid Tariffs

by shark
June 3, 2025
0

Donald Trump demands countries submit their best trade offers by Wednesday to prevent tariff reinstatement across global markets.

FalconX Acquires Stake in Monarq Asset Management

by shark
June 3, 2025
0

FalconX, a leading crypto prime broker, acquires a majority stake in Monarq Asset Management, expanding institutional client offerings.

Tron Hits All-Time High in May Transfer Volume

by shark
June 3, 2025
0

Tron achieved a record-breaking monthly transfer volume in May 2025, highlighting its dominance and network adoption.

IMF Seeks Clarity on Pakistan’s Bitcoin Power Allocation

by shark
June 3, 2025
0

The IMF seeks urgent clarification from Pakistan on its decision to allocate 2,000 megawatts of electricity for Bitcoin mining amidst...

Pi Network Turns to Gaming Amid Token Price Drop

by shark
June 3, 2025
0

Pi Network is focusing on gaming to address a 17% token value drop, led by co-founder Nicolas Kokkalis.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Trump Sets Trade Deadline to Avoid Tariffs
  • FalconX Acquires Stake in Monarq Asset Management
  • Tron Hits All-Time High in May Transfer Volume
  • IMF Seeks Clarity on Pakistan’s Bitcoin Power Allocation
  • Pi Network Turns to Gaming Amid Token Price Drop
  • Breaking: Qubetics, Litecoin, and Cardano Make Bold Moves – Best Coins to Join Now
  • Reitar Logtech Plans $1.5 Billion Bitcoin Acquisition
  • Egg Prices in the U.S. Drop 61% Since January 2025
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7