China is one of the countries that banned all about crypto, including trading, mining, and any other things related to crypto. But now it seems that they are getting back into the game, not entirely but a step towards using the same technology that is introduced by the crypto space. And Binance has integrated Apple Pay as well as Google Pay for their users. We will see these two news in detail in today’s bulletin.

1. China to Launch First National NFT Marketplace on 1st January

China is one of the first countries that completely banned the use of cryptocurrency, before that it was the hub of crypto miners controlling over 50% of the mining activities in the crypto space. But after the complete ban, everything vanished and there is no activity in the country related to crypto, at least not open activity!

But now it seems that China is getting back into the game, not entirely but showing the signs of using the same technology that was introduced by the crypto space, that is Non-Fungiable Tokens (NFTs). According to the report by the official Chinese media, China will launch the first national NFT marketplace on the first of January. They are not calling it NFT marketplace though but the concept is pretty similar. It is developed by the collaboration of three Chinese institutes and companies which includes China Technology Exchange (backed by the government), Art Exhibitions China, and a blockchain developer company Huaban Digital Copyrights. And the chain it is built on is named the ”China Cultural Protection Chain”, I am sure they did not put much time into thinking about the name of the chain 😊 This Chinese national platform will be used for trading intellectual property as well as NFTs but the use of crypto is still banned.

It will be interesting to see how this trading works, who gets to put their art on exhibition, what commission they take, and how do they respond to the art showcasing public outrage and criticizing the communist government.

2. Binance Integrated Apple Pay & Google Pay

After getting hit by the FTX crackdown and the way investors carried out the mass withdrawal of CZ, the CEO of Binance came up with the announcement for Binance users that now they can purchase crypto directly using Apple Pay as well as Google Pay.

This announcement will definitely help in growing the crypto adoption as there are many countries that do not allow users to directly put their money into crypto exchanges and in those that allow, users, have to go through hectic procedures. But the integration of Apple Pay and Google Pay, which are already very largely spread payment processors will help make the process easier.

I still believe centralized exchanges play a very important role in the crypto space, at the level of regulation as well as bringing new people on board. Of course, there are shady CEXs as well like FTX but that doesn’t minimize the contribution of CEXs to the space. But I also believe that the people who get introduced to crypto by CEXs should also take their crypto back to their self-custody wallets as the next step in their crypto journey.

Hope you found this bulletin informative, if yes then do follow me at Publish0x @CryptoManthan  for more content. 

Thank You Very Much!

Important Things happened in Crypto Space!

- Japan to Approve Stablecoin Use: USDT, USDC? | Former Russian President Predicts Elon Musk Winning Presidential Election in 2023 & More!

– Brazilian President Signed Bill to Legalize Crypto Payments | OKX Announced Monthly Proof-of-Reserves System to Build Trust

– FTX Saga: Co-Founder Gary Wang & Alameda CEO Caroline Ellison Plead Guilty!

– FTX Going After US Politicians for Recovery |Binance Joins US Lobby: Chamber of Digital Commerce

– Basel Committee Approved Global Banks to Hold Crypto | $30 Million Outflow in a Week: Largest in Past Months

– Tether Associated Accounting Firm BDO Reconsidering Their Work | Donald Trump Cards Collection Sold Out: Raised Over $4 Million

Happy new year to all my readers, thanks for your support and thanks for reading my content! Hope you guys will stay tuned with me for the next couple of years, maybe a lot of years! 😊

HAPPY NEW YEAR!