China News Today TheBitTimes.com

A survey from crypto exchange Bitget featured more than 1,500 respondents across 20 countries. Approximately 50% of crypto users are investing in digital assets to improve their everyday living standards. According to a new survey by crypto exchange Bitget published on October 5, 46%, 44%, and 41% of respondents in South Korea, Canada, and Turkey said improving their living standards is their greatest financial goal when invest ing in digital assets. Meanwhile, around 36% of respondents in Malaysia and Taiwan said enhancing their family's quality of life was more important than other aspirations.  Around 27% of female crypto invest ors in the U.S. and Turkey said they invest ed in digital assets to fund their children's education, compared to just 5% in South Korea and Japan. In terms of the amount invest ed, users from China showed the highest level of engagement, with 18% allocating sums between $50,000 and $100,000, and an additional 19% invest ing between $100,000 an...

Beijing is seeking a way to put regulatory burden on the yet-to-be-developed next internet iteration. China is set to form a working group to develop standards for the metaverse as the country sees a big future for the technology. According to a report by Reuters, China’s Ministry of Industry and Information Technology (MIIT) has released a draft proposal to establish a working group for the metaverse, putting the technology among emerging tech sectors vital for China. The MIIT claims the metaverse still “faces many challenges,” so the government should keep “healthy and orderly development of the metaverse industry through standardization and guidance.” Although the ministry admitted that the metaverse represents “an integrated innovation combining various cutting-edge technologies,” it also pointed out the concept of virtual reality still suffers from a lack of clear definitions, allowing capitalists and companies to speculate in th...