U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.

 
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto

China is looking to invest in the metaverse market as numerous cities rollout policy proposals.

Technology continues to change our lives forever.

As new advancements are released to the public—safety continues to be a major concern.

People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.

While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.

Analysts say it’s the next evolution in social connection and the successor to the mobile internet.

According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.

China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.

This comes after tense year of regulatory scrutiny on the countries tech sector.

The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.

The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.

So, is the metaverse taking the world by storm?

Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech

The crypto exchange is being scrutinised over whether is has allowed Russian customers to use the platform, as it violates U.S. sanctions

The U.S. Department of Justice is conducting an inquiry into whether Binance allowed Russian customers to access the exchange.

This is in violation of U.S. sanctions related to Russia’s invasion of Ukraine.

The exchange has repeatedly pushed back against allegations by saying it has built the world’s largest compliance team in the space.

The Securities and Exchange Commission has also been investigating Binance for its relationship with two firms owned by its founder Changpeng Zhao since at least early 2022.

This all comes on the back of the crypto exchange having to pause Bitcoin withdrawals for over an hour, due to a congestion issue.

It’s the second time this event has occurred since March, where deposits and withdrawals were stopped for technical issues.