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China News and Articles



China ceases rumors of real estate trades with digital yuan

China ceases rumors of real estate trades with digital yuan

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China ceases rumours of real estate trades with digital yuan. It is sure now that the statements with reference to digital yuan being used to purchase estate are false. From the moment of its appearance, being extremely popular digital yuan has attracted a lot of of users. At the moment, China’s...

China

Chinese banks start testing service for storing digital yuan

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Several Chinese state-owned banks have begun testing a digital yuan storage and transmission service (CBDC). According to Reuters, the crypto wallet is being tested in major cities of the Middle Kingdom, including Shenzhen. Earlier it became known that the People's Bank of China has completed the...

China mining Ethereum

A shortage of graphics cards: Chinese can't mine Ethereum

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Against the background of the rise in the price of Ethereum to $330, Chinese miners became interested in mining the second-largest cryptocurrency in terms of capitalization. However, their plans were in jeopardy due to a shortage of video cards and an increase in their cost, writes 8btc. As a local...

Chinese government

Chinese government services use 140 blockchain applications

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According to Chinese media reports, the Beijing government is to publish a newsletter reflecting the use of blockchain tech in government services in China. According to him, government services are already using 140 apps running on the blockchain. Apps fall into three categories: data interchange,...

China

China considers the launch of stablecoin for East Asia

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China offers another crypto project aimed against the leadership of the US dollar in international payments. Chinese leaders intend to create a cryptocurrency for East Asia to reduce dependence on the US dollar and strengthen trade ties in the region. According to Nikkei Asia, ten members of the...

China may deploy CBDC based on existing economic structure

China may deploy CBDC based on existing economic structure

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The People's Bank of China can launch digital currency (CBDC) based on the country's existing payment foundation. So says Glen Wu, head of the Ledger Vault office in the Asia-Pacific region. He emphasized that the Chinese authorities could take such a step so that people would not notice the...

China

Chinese police freeze OTC trader bank accounts

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Over-the-counter crypto trader Sun Xiaoxiao on Friday, June 5, announced on his Weibo page that his bank accounts had been frozen. According to Sun, this is due to an investigation by the police about cryptocurrency transactions related to illegal activities. He claims that these measures could...

Tencent blockchain investment

Tencent will direct $70 billion to develop blockchain and IT

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Chinese Internet giant Tencent is going to allocate 500 billion yuan ($70 billion) for about five years to develop IT infrastructure. It is reported by Reuters. The funds will go towards the implementation of cybersecurity, AI, and cloud computing. Other spheres include blockchain, data centers,...

China

Chinese BTC owners will be able to pass coin by inheritance

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A bill on the inheritance of Internet property, including cryptocurrency, has recently been submitted to the Chinese government. Proponents of the adoption of such a document emphasize that the conditions for amending civil law on inheritance are already ripe. That was reported by local media,...

China stablecoin

Chinese politician proposed to release stablecoin for Asia

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Shen Nanpeng, a member of the Chinese People’s Political Consultative Conference and Managing Partner of Sequoia Capital, has invited the government to issue stablecoins backed by a basket of fiat currencies. This is reported by Cryptobriefing. He came up with this initiative during a council...

Arrest

Huobi cryptocurrency exchange scammers arrested in China

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Chinese law enforcement officers arrested a group of scammers who impersonated employees of the Huobi cryptocurrency exchange. Local news outlet Jinse reports that police detained 12 people. These people, through various cryptographic groups on WeChat, spread calls to invest in some kind of...

Binance

China approves Binance listing in the national domain zone

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Cryptocurrency exchange Binance registered a domain name through the government of China. In April, the Ministry of Industry and Information of China approved the domain name Binance.cn. The domain name is registered with Shanghai Bi Nai Shi Information Technology (the name says Binance...

WoToken pyramid

Chinese police arrested WoToken pyramid organizers

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Chinese law enforcers arrested the organizers of the second largest crypto pyramid WoToken. This is with reference to local media reported the managing partner of Primitive Ventures Dowey Wan. According to court documents, the organizers of the Ponzi scheme raised $1 billion of user funds,...

Bitcoin drops because coronavirus

Coronavirus report interrupts Bitcoin movement above $9000

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Investors expect an exacerbation of the trade war between China and the United States over the coronavirus. This could affect the price of bitcoin, which previously fell below $9,000. It is reported by Bitcoinist. The day before, bitcoin reached $9203, but subsequently, its market value fell to...

China

China's CB attracted another development team to test token

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The number of participants in the Chinese Digital Currency (CBDC) launch project continues to expand. The People's Bank of China announced that a startup specializing in the development of services based on AI is going to take part in testing the digital version of the renminbi. The SenseTime team...

Sichuan

China aims to use excess hydropower in blockchain industry

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The authorities of Ya'an, one of the cities in the Chinese province of Sichuan, issued a guide on the use of “strategic opportunities in the blockchain industry," which include the use of excess hydroelectricity. In December, China accounted for 65% of the world's bitcoin hashrate, and the...

Chinese fraudsters in Malaysia

14 Bitcoin fraudsters from China were arrested in Malaysia

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Malaysian law enforcers have arrested Chinese attackers accused of cryptocurrency fraud. It is reported by the South China Morning Post. According to police, the detainees pretended to be successful investors, and their victims were found mainly in China. To reinforce this legend, they created...

People's Bank China

China's CB says the release of CBDC won't raise inflation

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The upcoming issue of regulated digital currency (CBDC) in China is widely perceived by society. Many people fear that after the launch of the digital version of the renminbi, inflation will surge. That may lead to further economic difficulties. The representative of the People's Bank of China at...

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