Hainan Arbitration Center of the China International Economic and Trade Arbitration Commission, which was launched on 8 Sept. 2020, heard its first arbitration case on 20 May 20.
In May 2021, National Internet Finance Association of China and other two associations jointly released the “Announcement on Preventing Speculative Risks in Virtual Currency Trading” (关于防范虚拟货币交易炒作风险的公告), stating that virtual currency is not a legal tender, and shall not be used as a legal tender in the market.
In April 2021, Cyberspace Administration of China and other six authorities jointly issued the “Administrative Measures for Live-streaming Marketing (for Trial Implementation)” (网络直播营销管理办法(试行)), marking the first regulation of its kind in China.
In May 2021, Shenzhen Intermediate People’s Court accepted five personal bankruptcy applications, which are the first batch of personal bankruptcy applications since the implementation of the “Personal Bankruptcy Regulation of Shenzhen Special Economic Zone” (深圳经济特区个人破产条例).