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China News and Articles



China blockchain-based CO2

China Presents First Carbon Offset on the Ant Blockchain

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Major port city in China, Tianjin issued the country's first blockchain-based carbon offset. The news comes a day after China announced the launch of its national carbon market. Tianjin Climate Exchange revealed the initiative at a conference on fintech and green finance held on July 15. The...

Digital Yuan development

China Issues Digital Yuan Whitepaper

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China is one step closer to the launch of the digital Yuan. Today, the People's Bank of China (PBoC) has released a whitepaper of the CBDC. The paper shows that electronic Chinese yuan (e-CNY) is created to be programmable with smart contracts functions. However, the date of the official launch or...

Jihan Wu

Bitmain ex-head praised PRC for adding control over crypto

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According to the former CEO of Bitmain, Jihan Wu, strengthening control over the cryptocurrency industry will positively affect the development of this market segment. He expressed his point of view at the Asia Tech x Singapore conference. Cryptocurrency market capitalization has already exceeded $...

china

Seminar on cryptos for police and judges held in China

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Lawyers, representatives of law enforcement agencies, and the PRC judicial system held a seminar on cryptocurrencies. This was reported by the Shanghai Prosecutor's Office. The topic of the forum was the attributes inherent in digital currencies and market surveillance. At the event, a draft law...

China crypto regulations

In China Closed a Tech Firm That Might Be Involved in Crypto

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China's Central Bank ordered the shut down of the software firm Beijing Qudao Cultural Development Co, saying it may provide crypto services. Authorities ordered the firm to cancel operations, also deactivating the website. According to Chinese law, Beijing-based companies are disallowed to...

Novogratz

Novogratz spoke about point of flight of miners from China

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Against the background of the tightening of the policy of the Chinese authorities, mining companies are massively migrating to safer jurisdictions. It was this factor that led to a record drop in the bitcoin hash rate to the lowest values since May 2020. That has dropped below 100 exahashes per...

China subway digital Yuan

Beijing Subway Started Allowing Payments With Digital Yuan

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Passengers of the Beijing subway now can use digital yuan as a payment method. The pilot program was released on Wednesday. As reports the Beijing Municipal Commission of Public Transport at the moment, the option is available at all 24 lines and 4 suburban railway lines in Beijing. Global Times...

Huobi China crypto

Huobi Disallows Chinese Residents to Purchase Derivatives

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Seychelles-based crypto exchange Huobi renewed user conditions. The new terms define that users in China won't be able to purchase derivatives anymore. However, Chinese customers can continue to use the network for spot trading. Note that spot trading refers to the operation type when the purchase...

Ethereum

Ether hashrate drops 20% due to shutdown of Chinese miners

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Bitcoin miners are not the only ones suffering from repression in China. Forced to suspend equipment and those pools that provide the computing power of the Ethereum network. Over the past two weeks, there has been a rapid decline in the ETH hashrate. An important development was the recent...

BTC mining China Kazakhstan

After Clampdown, Chinese Mining Companies Move to Kazakhstan

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Crypto mining businesses in China are considering alternatives after the government banned their activities. A leading cryptocurrency mining enterprise BIT Mining is moving the equipment to Kazakhstan. The first stack consisting of 320 pieces of equipment with a technical total hash rate potential...

China arrests

1100 Crypto Traders Arrested in China on Money Laundering

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The Ministry of Public Security in China announced arresting more than 1.100 persons, who are accused of money laundering for telecommunication network fraud. Beforehand, the Chinese government reiterated the crackdown on crypto trading and mining. The country's police and security authority...

China OTC trading crypto

After Stricter Regulations in China, Traders Turn to OTCs

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While the Chinese government takes measures to regulate the crypto industry, traders find the solution via OTC (over-the-counter) desks. As reported by Bloomberg, after China announced the latest crackdown, there has been a huge uptick in OTC service usage. Trading crypto isn't allowed in the...

ByBit

ByBit crypto exchange wants to leave China

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Crypto exchange ByBit has warned Chinese traders about the suspension of service from June 15. At the same time, the trading platform's statement notes that transactions will not be available to users using IP addresses under the jurisdiction of the PRC. From mid-June, investors from the Middle...

China

Chinese authorities are forcing miners to leave the country

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In several provinces of China, in early May, miners began to be disconnected from the power supply. In parallel, the country's authorities announced tough measures to suppress crypto mining. According to Reuters, BTC.TOP and HashCow have already been suspended in China. Later it became known that...

China bitcoin mining crackdown

China Restates BTC Mining and Trading Crackdown

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On Friday China reiterated its approach towards BTC mining and trading operations restriction. The crypto market crash continues. BTC price has lost over 22% during the previous 7 days. Currently, it trades at around $37.000 with a market cap of $697 billion. China's Vice Premier Liu He and the...

China crypto

China Bans Finance Institutions to Provide Crypto Services

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A new decision adopted by China states that financial establishments and payment operators of the country are disallowed to deliver services concerning crypto activities. The country also urged investors to be careful while purchasing crypto. Particularly, it said cryptocurrencies don't represent...

China

China is steadily losing its status of the largest BTC miner

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China continues to control the lion's share of the BTC hashrate. However, in the expert environment, some have already paid attention to factors signaling a gradual decrease in the influence of the Celestial Empire on the BTC network. According to Chun Wang, co-founder of one of the greatest mining...

Peter Thiel BTC China US

Peter Thiel Says China May Use BTC as a Financial Weapon

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German-American businessman, co-founder of Pay Pal, Peter Thiel thinks it is quite possible that China uses BTC as an economic instrument against the US. Thiel expressed this opinion during an online seminar set by Richard Nixon Foundation on April 6. Ex-Secretary of State Mike Pompeo and previous...

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