Showing posts with label cryptocurrency. Show all posts
Showing posts with label cryptocurrency. Show all posts

Tuesday, January 11, 2022

Despite huge losses, token markets might win in 2022 – Winston Ma

 


Winston Wenyan Ma

Metaverse and gaming-related tokens might have seen a tough 2021 with huge losses, but financial expert Winston Ma still predicts a booming 2022, as NFT’s and cryptocurrencies still have a firm future, he tells in The Street.

The Street:

Winston Ma, managing partner of CloudTree Ventures, and author of The Digital War – How China’s Tech Power Shapes the Future of AI, Blockchain and Cyberspace, said that metaverse and gaming-related tokens, like Mana and AXS, suffered steep losses tokens in the broader crypto’s market sell-off.

Still, he said, the market interests towards metaverse and gaming remains high, as GameStop  (GME) – Get GameStop Corp. Class A Report shares jumped on Friday after news that the video game retailer is planning to create a marketplace for non-fungible tokens (NFTs)  and establish cryptocurrency partnerships.

“That correlation may simply be emotional, but the big picture is, the gaming industry is fast-becoming one of crypto’s most potent areas of application,” Ma said. “The momentum is extremely strong after Facebook changed its name to Meta to highlight its focus on the ‘metaverse’ because many believe that immersive and interactive gaming is closely related to the metaverse.”

More in the Street.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more strategic experts at the China Speakers Bureau? Do check out this list.

Tuesday, January 04, 2022

The metaverse will be next on China’s regulatory agenda – Winston Ma

 

Winston Ma

Political analyst Winston Ma explains the upcoming regulatory plans for China’s government in 2022 including the metaverse, he tells at CNBC. The metaverse includes gaming, crypto, NFT’s, and other issues on the internet.

Winton Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more political experts at the China Speakers Bureau? Do check out this list.

Wednesday, September 29, 2021

Why China banned cryptocurrencies on a national level – Winston Wenyan Ma

Winston Wenyan Ma

After provincial authorities started to limit operations of cryptocurrencies earlier this year, last week a full ban was issued by 10 ministries. Financial analyst Winston Wenyan Ma explains Bloomberg what the central government is doing to cryptocurrencies, the relation with the upcoming digital currency and its possible fallout on a global level.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’request form.

Are you looking for more strategic experts at the China Speakers Bureau? Do check out this list.

Monday, September 27, 2021

The escalation of regulation of cryptocurrencies in China – Winston Wenyan Ma

 

Winston Wenyan Ma

China’s financial authorities have been cracking down massively on cryptocurrencies and last week saw a new escalation in that struggle, says financial expert Winston Ma to NPR. “When you have 10 ministries involved – right? – that’s very serious,” Ma says.

NPR:

SCOTT SIMON, HOST:

China is banning cryptocurrency transactions. And as NPR’s David Gura reports, it’s sending shockwaves through a sector valued at $2 trillion that’s been largely free from government interference.

DAVID GURA, BYLINE: Part of cryptocurrency’s popularity worldwide stems from the fact that the digital asset is free from government control. And it really hasn’t been regulated. That’s appealing to many Chinese citizens. But China’s leaders have spent years trying to crack down on crypto. Winston Ma teaches securities law at NYU. And he says Friday’s announcement is an escalation.

WINSTON MA: I think the implication will be profound and major.

GURA: As cryptocurrencies get bigger and they become more mainstream in many countries, China is going against trend. In the world’s second-largest economy, you’re no longer able to buy them or sell them. Banks aren’t allowed to process transactions. And there’s been a crackdown on the infrastructure that supports crypto. Ma says this is a government-wide effort.

MA: When you have 10 ministries involved – right? – that’s very serious.

More at NPR.

Winston Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more financial experts at the China Speakers Bureau? Do check out this list.

Friday, June 25, 2021

The difference between NFT’s and cryptocurrencies – Winston Wenyan Ma

 

Winston Wenyan Ma

China’s Ant group went to great length in explaining its non-fungible tokens (NFT’s) are something completely different from the cryptocurrencies the government is targeting. Is it a smart way to avoid government measures? Fintech expert Winston Wenyan Ma highlights the dilemma created by Ant’s NFT, he tells Reuters.

Reuters:

“NFT is not interchangeable, nor divisible, making it different by nature from cryptocurrencies such as Bitcoin,” said a spokesperson at AntChain, the Ant unit that develops blockchain-based technology solutions.

He said that NFTs can be used to create a unique signature for digital assets.

Winston Ma, NYU Law School adjunct professor, also highlighted the confusion over the nature of NFTs.

“Are NFTs virtual currencies? Or, are NFTs certificates for virtual currencies? And more importantly, are NFTs securities? These are the questions that no major digital economy’s legislature has ever answered,” Ma said.

More at Reuters.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more fintech experts at the China Speakers Bureau? Do check out this list.

Monday, June 21, 2021

Crackdown on bitcoin mining: not only because of coal – Winston Wenyan Ma

 

Winston Wenyan Ma

Provincial governments in Sichuan, Xinjiang, Inner Mongolia, and Yunnan have been cracking down on bitcoin mining, but it is not alone because of the usage of coal to generate cheap electricity, says strategic advisor Winston Wenyan Ma to Reuters.

Reuters:

The notice ordered state electricity companies in Sichuan to conduct inspections, make corrections and report their results by Friday. They are to immediately stop supplying electricity to crypto mining projects they have detected.

The authorities urged local governments in Sichuan to start combing for crypto mining projects and shut them down.

Other regional mining centres, including Xinjiang, Inner Mongolia and Yunnan, have also ordered crackdowns on Bitcoin mining.

Friday’s notice appears to indicate that Beijing’s displeasure with cryptocurrency mining extends beyond cases where it uses electricity generated by burning coal.

“Renewable power does not help,” said adjunct professor Winston Ma of NYU School of Law.

“The four largest mining regions – Inner Mongolia, Xinjiang, Yunnan and Sichuan – have implemented similar crackdown measures, even though mining in the latter two are mostly based on hydropower, whereas the first two are on coal,” he said.

More in Reuters.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more strategic experts at the China Speakers Bureau? Do check out this list.

Tuesday, June 15, 2021

Expected: more rules on cryptocurrencies – Winston Wenyan Ma

 

Winston Wenyan Ma

China’s regulators have been focusing already on cryptocurrency, the mining operation. Fintech expert Winston Wenyan Ma warns we can get more regulations from China’s government, especially on trading, he tells in The Street.

The Street:

Last month, the State Council’s Financial Stability and Development Committee said China would crack down on bitcoin mining and trading activities as part of efforts to fend off financial risks.

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.

Winston Ma, adjunct professor at New York University School of Law and author of “The Digital War-How China’s Tech Power Shapes the Future of AI, Blockchain and Cyberspace,’ said, “China market controls 70% of global hashrate for bitcoins and crypto assets, so its rising regulation simply cannot be ignored by the crypto markets.”

“It seems that China put more focus on the computation power of its national data center network,” he said.

“[And] whereas China’s mining regulation has already made the impact, the market is still waiting for the another shoe to drop relating to crypto trading, as China has also taken steps to restricting crypto-related capital flows in its financial system.”

More on the Street.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more experts on managing your China risk? Do check out this list.

Monday, June 14, 2021

Moving from import/export to innovation – Winston Wenyan Ma

 

Winston Wenyan Ma (left under) at a fintech panel

Fintech expert Winston Wenyan Ma joins a panel at the BSN base and explains how China’s economy moved from import/export to a focus on innovation. China missed the world’s first technological revolutions because of domestic turbulence and external influences but has become a leading force for the third technological data revolution.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more fintech experts at the China Speakers Bureau? Do check out this list.

Friday, June 11, 2021

The global fallout of China’s new regulations on crypto currencies – Winston Wenyan Ma

 

Winston Wenyan Ma

China issued new regulations on mining and trading of cryptocurrencies over the past few weeks. Financial analyst Winston Wenyan Ma explains how this works out, and why China’s crackdown has such a big impact on the industry worldwide, at LCX. China now covers 70% of the global market.

Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more experts on the fast-developing fintech industry at the China Speakers Bureau? Do check out this list.


Monday, June 07, 2021

China cracks down on mining, trading cryptocurrencies, not on owning them – Winston Ma

 

Winston Wenyan Ma

The cryptocurrency market has been disrupted by interventions by China’s governments, but it certainly does not mean a full-blown ban on digital currencies, says financial analyst Winston Wenyan Ma, former managing director at China Investment Corporation (CIC), adjunct professor at NYU, and investor. The government is still defining the scope of digital currencies, and focuses on minging and trading, and is certainly no banning ownership, he says at Verify.

Verify:

China is testing its own form of digital currency, the Digital RMB. On June 1, the Beijing Regional Financial Supervisory Commission announced that it would provide 40 million digital yuan in the latest currency test. China is reportedly hoping to launch a currency form prior to the 2022 Beijing Winter Olympics.

Winston Ma said VERIFY cryptocurrencies have not yet been clearly defined in China’s legal system. China has banned crypto exchanges and initial coin offerings, but has not banned individuals from owning cryptocurrencies, Ma said. In the May announcement, in addition to reiterating the ban on cryptocurrencies as a whole, a new crackdown on mining operations has begun.

“The latest crackdown is by the State Council’s Financial Stability Commission, led by Deputy Prime Minister Liu He. It is China’s top-level financial regulator and has vowed to crack down on cryptocurrency mining and trading activities. It is expected that new regulations will be issued by each ministry to better define and regulate the mining, holding and trading of citizens’ cryptocurrencies. ”…

Mr. Ma told VERIFY: “In addition to the issue of market volatility, carbon neutrality is also an important consideration. According to a recent survey by Chinese scientists, this Chinese emission is [equal to that in] Czech. It points out that it will exceed the total annual greenhouse gas emissions of some smaller countries such as the Republic and Qatar.”

More at Verify. 

At CNBC Winston Ma discusses the 2021 regulations on cryptocurrencies


Winston Wenyan Ma is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more fintech experts at the China Speakers Bureau? Do check out this list.

Monday, April 19, 2021

Governments will outlaw crypto currencies when they become too powerful – Jim Rogers

 

Jim Rogers

When cryptocurrencies like bitcoins become too powerful, governments will simply outlaw them, says senior investor Jim Rogers to Kitco. They will not accept competition for their currencies.

Jim Rogers is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more financial experts at the China Speakers Bureau? Do check out this list.


Monday, February 18, 2019

Digital money, not crypto currencies will galore - Jim Rogers

Jim Rogers
While renowned investor Jim Rogers is a firm believer in the blockchain technology and is sure that China leads the way in digitizing money, he believes that governments will stick to their own currencies, rather than crypto ones, he says on his weblog.

Jim Rogers:
Paper money is going to disappear and it's going to be on the internet but this is going to be government money; it's not going to be anybody else's money. Money is already disappearing in China and in many countries. China's far ahead of the United States for instance. 
While I'm extremely optimistic about blockchain and I'm extremely optimistic about the changes of money to the internet which I know is happening it's not going to be cryptocurrencies because the governments are not going to let it happen.
More at Jim Rogers' weblog.

Jim Rogers is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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