On May 24, Binanceย Cryptoย exchange CEO Changpeng Zhao, likewise known as CZ, shared through Twitter that โChinese speaking communities are buzzingโ following a news broadcast by state-operated media network China Central Television (CCTV) regarding Hong Kongโs latest cryptocurrency-focused regulatory policy.
CCTVโs Coverage of Hong Kongโs Cryptocurrency Regulations Sparks Excitement, Reveals Binanceย Cryptoย exchange CEO; Nanxin University Launches Metaverseย network Platform
Thisย comingย week CZ emphasized that the coverage of digitalย currencies by CCTV is wholeย lotย of, especially seeingย as that cryptocurrency investment enterprises were prohibited in China in September 2021. The Binanceย Cryptoย exchange boss stated: โCCTV (China Central Television) just broadcasted cryptocurrency โ Itโs a big deal โ The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.โ He likewise pointedย outย that he wasnโt suggesting the โpast predicts the futureโ and his statement was โnot financial advice.โ
The specific CCTV segment CZ referred to centers on Hong Kongโs regulatory approach for virtual investment service providers (VASPs). These entities must comply with the regulations by June 1, 2023, and the regulations doย not reflect a โlight-touch regulationโ philosophy. Following CZโs comment, one Twitter user observed: โIt is not necessarily a bull market when there are Chinese people involved, but it is definitely not a bull market when there are no Chinese people involved.โ
CZ admitted he could not dispute this observation. Alongย with the CCTV report, Nanxin University established the China Metaverseย network Technology and Application Innovation Platform just two days prior. The universityโs president Li Beiqun expressed enthusiasm about metaverseย network development, asserting that the metaverseย network platform would encourage progress in metaverse-related fields.
During the event, metaverseย network platform creators unveiled an augmented reality (AR) map of their platform. It was addedย that the China Metaverseย network Technology and Application Innovation Platform is part of the government-supported China Industry-University-Research Participation Promotion Association initiative. Nonetheless, following last yearโs metaverseย network hype wave, interest in the concept has been overshadowed by attention toward artificial intelligence (AI) software such as Openaiโs chatgpt.
