Search results: China

More industry players are exiting the Chinese mainland market amid tougher crackdown.

JD.com, an online retailing platform ranked by trading volume as No. 1 in China and No. 13 globally by Deloitte, said it will accept electronic yuan (e-CNY) payments during the upcoming Double 11 shopping festival and will issue digital yuan coupons during the event. Fast facts The Double 11 shopping festival refers to a Chinese […]

Some are registering companies overseas, via — you guessed it — Taobao vendors.

Authorities encourage new ways to apply blockchain across various industries, although there’s no room for crypto

South Korean presidential hopefuls lean towards delaying crypto tax to impress younger voters.

Hidden mining tracked by IP addresses to state agencies, enterprises, institutions, schools

The state-run Industrial and Commercial Bank of China (ICBC) and telecommunications service giant China Mobile on Wednesday jointly announced the launch of a fiat digital-yuan hard wallet that allows equipped phones to transact in e-CNY without a mobile network. Fast facts The wallet, SIM Pay, is a super-SIM card with near-field communication (NFC) technology. NFC […]

AntPool, currently the world’s second-largest Bitcoin mining pool in terms of real-time hashrate, announced today that it is stopping the connection of IP addresses from the Chinese mainland beginning Friday. Fast facts AntPool said in its statement it decided to make the adjustment to abide by the Chinese government’s relevant rules on crypto mining and […]

U.S., Kazakhstan, Russia take up largest Bitcoin hashrate shares as the exodus of Chinese miners continues.

Cryptocurrency investors on the Chinese mainland continue to feel the chill from the country’s latest crypto ban, as more and more industry players exit the Chinese market. Cobo, a Singapore-based crypto management platform, is among the latest to opt out. Fast facts In order to reflect the regulatory requirements on the mainland, Cobo said Wednesday […]

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is partnering with a New York-based blockchain company to advance interoperability as BSN actively expands its global presence to lure more developers to use the blockchain network. Fast facts Cypherium, a smart contract technology provider focusing on central […]

Binance — the largest cryptocurrency exchange in the world by market value — is set to close down the yuan trading feature on its customer-to-customer platform on Dec. 31, the company said today in a statement, in a move to “meet regulatory requirements of the local government.” Fast facts Binance also said it will conduct […]

The country’s top economic planner hopes to prohibit investment in what it considers an energy-intensive sector.

Working with Chinese blockchain Conflux, McDonald’s China has launched its first NFT to commemorate its 31st anniversary in the Chinese mainland market and the official opening of its new headquarters in Shanghai. The NFT, “Big Mac Cube,” is a three-dimensional digital token inspired by McDonald’s branding and the shape of its new headquarters building.  Fast […]

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is setting up more portals overseas, as it moves a step closer to more international exposure. Fast facts Red Date Technology, the company China tapped to manage its BSN, announced today that it is working to […]

China’s eastern province of Jiangsu today announced that it is cracking down on covert cryptocurrency mining activities, in response to the notice jointly issued two weeks ago by the National Development and Reform Commission (NDRC) and several other public security and information technology authorities. Fast facts The Jiangsu Communications Administration said it is strengthening its […]

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]

Mainland China’s recent clampdowns on crypto are reverberating beyond its borders. In a special Q&A, former regulator and crypto industry leader Angelina Kwan discusses what this means for Hong Kong.

The Hainan International Art Exchange Center on Wednesday launched an NFT art-trading platform that supports e-CNY payments, according to China News’ report. According to the staff of the center, the blockchain platform provides services for the purchase and sale of art between art institutions. Institutional traders will be able to tokenize physical artworks as NFTs […]

DeFi benefits from China ban while Gamevil increases Coinone stake

Decentralized wallet imToken is restricting access to some of the services it offers for users in China, in the wake of the latest ban imposed by top Chinese authorities last Friday. Fast facts The company has restricted users in China from accessing and using third-party financial applications, including those from decentralized crypto exchanges, stake mining […]

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.

China crackdown legal concerns as Korea also discusses virtual asset law

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

China’s stepped-up cryptocurrency ban continues to send shockwaves through the industry, as more crypto service providers are shutting their doors to users in China. BeePool and Tiger Brokers are among the latest to announce service suspensions. Fast facts China-based BeePool, the fourth-largest Ethereum mining pool in hashrate, said Tuesday that it has stopped registering new […]

China fallout hits mining meanwhile Korea digital custody competition heats up

China saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is moving a step closer to more international exposure, as the company behind it is working to register a foundation based in Singapore. Fast facts Red Date Technology, the company China tapped to manage its BSN, […]

China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.

China’s crypto crackdown and what it means

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.

China’s Inner Mongolia region — once a thriving cryptocurrency mining hub that has enacted a series of measures to rein in the sector — is tightening its crackdown by hiring a contractor to monitor and ferret out mining operations. Fast facts The Inner Mongolia Development and Reform Commission announced on Wednesday a bidding result for […]

Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.

Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.

Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.

Three banks — the Bank of China, Singapore’s DBS and HSBC — have partnered with the Global Shipping Business Network (GSBN), a Hong Kong-based non-profit consortium that recently launched a blockchain-based trade platform, to form a trade finance advisory group, according to a media release shared with Forkast.News today. Fast facts Trade finance — the […]

China’s largest brokerage firm, CITIC Securities, said in a research report the metaverse will enter an exploration stage in the next three to five years and could become a way of life in 20 years. Fast facts The report said the development of the metaverse can be divided into three stages. The first stage will be completed […]

A tourist spot in South China’s Hainan province to hand out digital yuan, while Shenzhen tests adoption for Hong Kong residents.

More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]

In the latest response to a growing interest in non-fungible tokens, Beijing Business Today faults an art marketplace.

A sister paper of the People’s Daily, Securities Times, published an opinion piece to criticize non-fungible tokens (NFTs) as hype and suggested the digital assets should serve the real economy by tokenizing actual assets. Fast facts The article offers as an example Justin Sun’s NFT purchase of a digital avatar for US$10.5 million and the […]

E-CNY problems to be solved, also China sees warning over NFT hype

PBOC still working out regulatory rules, acceptance environments and payment systems.

In another example of harnessing blockchain technology in the legal world, the Zhejiang Patent Office launched China’s first intellectual property blockchain certification platform on Thursday in Hangzhou, Zhejiang Province’s capital city. Fast facts The platform provides users with a blockchain certification after they upload pictures or description documents of their original creation, such as art […]

Bitcoin price plunges however Metaverse actions heats up in China

In China, over 20 publicly listed companies have disclosed they are bringing to market e-CNY-related services and products, such as hardware wallets, a digital yuan payment system for schools, and a mobile phone SIM card that can pay for bike rentals with digital yuan at the tap of a phone, according to a report by […]

Top blockchain and crypto news: Does TBD stand for Twitter Boss Decision? NFTs’ ballooning interest. How billions in e-yuan are coursing through China.

The Securities Association of China (SAC), a self-regulatory organization for the securities industry, recently held a symposium with Chinese brokerages to promote blockchain applications in China’s securities industry. The deputy director of the association’s Tech Bureau, Dongxing Jiang, said the association will implement its blockchain infrastructure plan, known as the “Securities Industry Alliance Chain,” and […]

As its first international expansion, China’s Blockchain-based Service Network is launching a portal in Korea. Who are the key players, and where else in the world will BSN emerge this year?

Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.

Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.

The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?

Upbit submits compliance report: China’s e-CNY trials broaden

Bit Digital, a New York-headquartered Bitcoin mining company that has had significant operations in China, recorded growing losses in the second quarter of this year as it continued relocating its China-based machines to North America. Fast facts In the second quarter of this year, Nasdaq-listed Bit Digital booked a net loss of US$1.34 million, compared […]

Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.

China continues its crackdown on certain illegal social organizations, as authorities shut down the website and social media accounts of the China Blockchain Application Center — a organization once led by some of the nation’s most prominent crypto industry leaders, state media China National Radio reported yesterday. Fast facts The China Blockchain Application Center was […]

Hong Kong-based crypto finance firm Amber Group has announced a collaboration with the Institute of Risk Analysis, Prediction and Management (Risks-X) on a crypto risk management research project, according to a company statement. Fast facts Risks-X is a research institute collaboration between ETH Zurich, a public research university in Zurich, and the Southern University of […]

Top blockchain and crypto news: NFT wave buoys OpenSea. Are dollars and sense a lifeline for Tether? Tencent gets a target on its back.

Poolin, a major mining pool in China, has set sail for America. ‘Large players are all over the U.S. now looking for deals.’

The Business Administration Department at China’s central bank has said it will push forward pilots of the e-CNY digital currency in the Winter Olympics area to cover all payment scenarios. Fast facts To promote the digital yuan for the Winter Games, two batches of e-CNY red packets were distributed in Beijing in February and June, totaling 50,000,000 yuan […]

China continues e-CNY pilot also Google allows crypto advertising