China crypto news of the week (Aug 30 to Sep 6)

Highlight

China's central bank: the crackdown on virtual currency transactions has basically been completed and has been transferred to normalized supervision.

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However, just like the recent sudden blows to Chinese internet companies and the entertainment industry, the Chinese policies does not require long-term debates similar to those in the United States. Therefore, when new situations arise, they may still cause major changes in policies.

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Other News

1, OKEx, one of China's largest exchanges, announced the launch of the NFT platform, but 98% of NFT trading volume is currently in OPENSEA.

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2, Feng Bo, founder of Dragonfly Capital, used 35ETH on the Element to buy Loot #1288. A week ago, Feng Bo collected 10 CryptoPunks with 3652ETH.

3, China's BSN, which is considered to have government support, has reached a cooperation with MetaverseSociety, officially launching the BSN in South Korea, and plans to start operations in November to provide blockchain services for South Korean companies.

4, Canaan Technology signed an order for 200,000 Avalon mining machines with Genesis Digital Assets, including 20,000 mining machines and an additional purchase option of up to 180,000 mining machines.

5, Taiwan star Bolin Chen with 1.7m followers changed his instagram profile picture to Mutant Ape Yacht Club (MAYC).

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