Tag: China

China’s southward region police bust a gang of people laundering the stolen money using cryptocurrencies. As per the media reports, the theft involves 800 million Yuan (around $124 million). The case is from China’s Guizhou province’s city, Zunyi, and the authorities were working on it for about two months. According to a local media channel, […]

Edward Snowden, the famous US-based whistleblower, recently tweeted about the concept of Central Bank Digital Currencies (CBDCs) and, specifically, about the Federal Reserve’s future plans on that. The whistleblower strongly opposed the concepts of Central Bank Digital Currencies or CBDCs.  CBDCs are blockchain-based assets that basically represent a country’s currency and are centralized in nature. […]

Bitmain, one of the biggest manufacturers of crypto mining equipment from China, has announced that it will cease to ship Antminer minings rigs to customers in mainland China. It is pretty evident that the reason for this sudden decision is the recent ban that the government put on crypto-related activities, including cryptocurrency mining.  From October […]

The former nominee for the presidential candidate, Andrew Yang, quit the Democratic Party in lieu of forming his own Forward Party. The man has been making headlines since his resignation from the Democratic Party. He came forward with the Forward Party to oppose the current duopoly faced in the country’s politics. Keeping politics aside, for […]

China’s recent crypto crackdown got the entire crypto market bothered. There was a lot of commotion, and experts wondered if this was the end for cryptocurrencies. Instead, it seems that companies are China are now moving out. As many as three sources currently claim that Bitmain is seeking to pull out its operations from the […]

Crypto crackdown pressure China is at its peak as the authorities tighten their fists. Inner Mongolia, a province in China, Chinese regulatory authorities seized around 10,100 mining rigs from a tech park that operated under the law. A few months earlier, China placed a similar crackdown on mining rigs and farms in the country, driving many operations […]

The Chinese government has once again sent the crypto world into a great panic state. Back in the month of May, China was responsible for Bitcoin dropping to almost half of its value. Yesterday, the news of the crypto ban in China produced similar results. Market analysts and experts compare China’s previous crypto crackdown to the recent […]

In what is another regulatory crackdown, the People’s Bank of China has announced new regulations relating to cryptocurrency. This time, all crypto-related services will bear the brunt. In a statement released on the bank’s website today, cryptocurrencies do not have the same legal status as traditional currencies. As such, the bank warned against circulating them […]

Most governments worldwide are worried about the regulations and monitoring of stablecoins. On the other hand, China is planning to bring a Yuan-pegged stablecoin for crypto trading. This coin is the ‘offshore Renminbi.’ Chris Banbury, the chief of global operations at Conflux stated in an interview that the firm would offer its tools and advanced […]

China in the Central Bank Digital Currency Race China has advanced a lot with its central bank digital currency. But it isn’t the most developed project, according to a new report. In brief Countries around the world are racing to make a central bank digital currency (CBDC). But a new report says China isn’t actually […]

Internet giant Baidu just launched its Xuperchain cryptocurrency. The release of Baidu’s cryptocurrency comes ahead of China’s upcoming digital Yuan. Baidu has just released its own cryptocurrency, called Xuperchain, according to local reports. The network is compliant within China and uses a series of master nodes to run the network—suggesting it isn’t decentralized. But, with […]

China Securities Regulatory Commission (CSRC) received an application for listing an exchange-traded funds for blockchain-related stocks. Penghu Fund filed the application which CSRC has accepted. Shenzhen-based asset management firm Penghua Fund filed an application named Penghua Shenzhen Stocks Blockchain ETF to the financial watchdog of China CSRC, which was accepted on 24 December. The proposed […]

As part of its strong policy against illegal mining operations, the Chinese authorities have Confiscated almost 7,000 ASIC crypto miners that were illegally consuming electric power in the region of Tangshan. According to Cointelegraph, the confiscation was part of an inspection made by local authorities to more than 70,000 households, 1,470 communities, and 3,061 merchants, […]

Chinese Bitcoin Miners now control 65% of the cryptocurrency network’s processing power (hash rate), according to research by digital assets manager CoinShares. In its latest report, shared with TheCoinrise, CoinShares said 65% of global bitcoin mining happens in China, and the country’s Sichuan province alone produces 54% of global hash rate. The remaining 35% of […]

China, Beijing is gradually reducing its stocks of US Treasury bonds, in which it actively invested. China has reduced its assets by $88 billion over the past 14 months. Instead, Beijing continues to expand its purchases of gold. It seems China Stocks finally decided to cut some ties to the world’s largest reserve currency – […]

China Blockchain market booming with the support of top internet companies. China is known as the biggest hub for crypto mining and Bitcoin mining, with significant mining rig manufacturers belonging to China. In the past few months, the crypto and blockchain community has seen a sudden change of heart in China with the acceptance of […]

China has no shortage of billionaires and the list is long according to Forbes. A new rich list has emerged and the number of crypto and blockchain executives making it is growing. Market prices aside, it is clear that many are still making billions out of the fledgling industry. Bitmain and Binance Top Crypto Rich […]

The upcoming Bitcoin (BTC) options may be a hit product with miners and traders based in China, the CME Group believes. CME Notes Robust Interest from Asian Traders Tim McCourt, CME Group’s global head of equity products, expects to see the new options contracts surpass the popularity of futures. Even now, as much as 50% […]