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China News and Articles



Bitcoin China crypto

China Releases New Warnings Against Bitcoin

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The government of China released new warnings against Bitcoin and the crypto market. Given the recent price drop, China finds the Bitcoin price is heading to zero. Local media reports that a release from the state-run Economic Daily restates the negative attitude of the authorities against cryptos....

China

Chinese miners control over 22% of bitcoin hashrate

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In May 2021, the Chinese authorities began to force miners out of the country. As a result, the computing power of the Bitcoin network collapsed to a minimum since 2019. If before China was the world leader in terms of bitcoin capacity, now American miners control the lion's share of the BTC...

China Bitcoin

Shanghai High Court Said Bitcoin Is an Asset Protected by Law

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The Shanghai High People's Court has mentioned that Bitcoin is a digital asset protected by Chinese law, adding that the coin has economic value. According to local media, the declaration was made in connection with a court hearing. A person called Cheng Mou filed a lawsuit demanding that another...

Central bank

Former head of the CB of China didn't see threats to SWIFT in digital yuan

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The digital yuan is primarily intended for the public and merchants, not to replace SWIFT or weaponize the currency. This was stated by the former head of the People's Bank of China Zhou Xiaochuan. The expert emphasized that e-CNY is not necessarily suitable for cross-border payments. For such...

China

China has tightened the responsibility for fundraising in crypto

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The Supreme People's Court of the People's Republic of China amended the legal norms on the illegal attraction of funds, toughening criminal liability. For raising funds in cryptocurrencies, the authorities have established a punishment in the form of imprisonment for a term of three years or more....

China

Chinese customs detain 49 smuggling Bitcoin miners

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Huangpu Customs (Guangdong Province, China) announced the detention of 49 used bitcoin miners. They tried to transport them across the border, indicating false information in export documents, local media reported. The discrepancy was revealed during the inspection of goods declared as “shoe...

China

China will rev the implementation of blockchain into government structures

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Recently, the Chinese government, which continues to violently eradicate cryptocurrencies, announced that the Cyber ​​Security Administration has directed all its efforts to accelerate the process of introducing blockchain into various government systems. According to reports, the Chinese...

Thailand

Mining ban imposed by China let Thailand to raise its crypto profits

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The ban on digital asset mining introduced by China in September 2021 gave a good impetus to the development of the same industry in another Asian country - Thailand. So, recently, the international news channel Al Jazeera reported that after China's actions restricting the rights of...

China

China stopped the activities of a large crypto group

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It is no secret to anyone that the Chinese government has recently been waging a fierce fight against the cryptocurrency industry, not giving it the slightest chance for its development. However, despite this, various fraudulent groups continue to carry out illegal cryptocurrency fraud, deceiving...

China NFTs blockchain

China to Create Its Own NFT Industry

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China’s Blockchain Services Network (BSN) intends to release infrastructure at the end of January to enable NFT deployment. This step is a major development towards forming a Chinese NFT ecosystem that requires no links to cryptos. Launched in April 2020 by the government, BSN is managed by the...

China

Citizens of China download the app for transactions with digital yuan

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In-app stores for devices based on Android and Apple operating systems, the RMB transaction service ranked first in the number of downloads in China. This program is currently still in the testing phase. However, according to the results of the first week, after the application appeared in the...

China

China continues to squeeze cryptocurrencies out of financial market

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China imposed a ban on all cryptocurrency transactions for financial institutions and payment companies. Banks and online services are prohibited from advertising any transactions that relate to them. It is also forbidden to mine cryptocurrency, but with all this, it is allowed to keep virtual...

Digital yuan

China started second phase of digital yuan testing

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The updated financial infrastructure of China and Hong Kong will be based on the digital version of the yuan (CBDC). The parties have already started the second stage of testing this tool, local media reported. Recall that the largest banks and IT companies from the Middle Kingdom also take part in...

China

People's Bank of China intends to track NFT

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After China decided to stop all sorts of activities related to cryptocurrencies, a "big road" opened up for the NFT market because all traders redirected their interest to trading non-fungible tokens. It would seem that the main threat that the authorities saw in digital assets is already...

China ban news platforms

Chinese Ban Expands to Crypto News Portals

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China is decisive to eliminate the exposure of Chinese residents to cryptocurrencies. The authorities didn't overlook news outlets and mining pools. Recently, major crypto media provider Chainnews, founded in 2017, announced shutting down. The editor-in-chief informed about the decision in his...

China

China to begin to fine state-owned companies continuing BTC mining

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The government of the People's Republic of China intends to impose harsh penalties on government agencies that continue to mine digital assets in the short term. The authorities want to speed up the process of the complete eradication of cryptocurrencies from all areas of activity. As of today, the...

China Communist Party Xiao Yi

Chinese Party Expels an Official for Violating Crypto Ban

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Xiao Yi, an ex-Chinese politician was expelled from the Communist Party for exploiting his power and being engaged in crypto mining operations. On November 13, the Central Committee of the Chinese Communist Party (CCP) announced the decision, presenting reasons. The report says that the highest...

Binance delists Chinese Yuan

Binance to Disallow Chinese Yuan Trading

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Today, leading cryptocurrency exchange by trading volume Binance released a Notice, announcing the delisting of the Chinese Yuan from its consumer-to-consumer (C2C) trading zone. CNY will be removed at 24:00 (ET) on December 31, 2021. In addition, the firm will carry out a checklist of users. In...

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