Shanghai Court Legalizes Crypto Ownership: A Game Changer for Bitcoin Amid Market Surge!

Shanghai Court Legalizes Crypto Ownership

The recent ruling by a Shanghai court has declared that crypto ownership is legal under Chinese law, providing much-needed clarity for cryptocurrency holders in the country. This comes at a time when Bitcoin prices have surged to a record-breaking US$94,000, despite ongoing restrictions on trading and mining activities. The court made a clear distinction between personal holdings and prohibited business operations, signaling a potential shift in the regulatory landscape for cryptocurrencies in China.

Rokid's Smart Glasses Challenge Meta

In a bold move, Chinese AR start-up Rokid has unveiled its new smart glasses priced at US$345, which leverage Alibaba’s AI technology. These glasses are designed to compete with Meta in the rapidly expanding augmented reality market, offering consumers an affordable and lightweight option equipped with advanced generative AI capabilities.

Apple's App Store Revenue in China

In light of increasing competition from Huawei, Apple has disclosed that a staggering 95% of the US$519 billion revenue generated from its App Store in China goes to Chinese developers and companies. This revelation comes as Apple faces scrutiny over its commission fees, with CEO Tim Cook highlighting the company's commitment to investing in local businesses.

A Meituan drone, soon to be seen in the skies above Hong Kong, delivers takeaway food to customers in Shenzhen. Photo: VCG via Getty Images