China’s new mobile payment rules could pave the way for e-CNY, experts say
In the long run, the new rules may ‘lay the perfect foundation’ to improve risk management, says an ICBC expert.
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China central bank to establish crypto asset transaction tracking system
The director of China’s central bank’s anti-money laundering office said the People’s Bank of China will establish a tracking system for the virtual assets, such as cryptocurrencies and NFTs, for cracking down on virtual-related crimes, adopting technologies such as artificial intelligence and machine learning, mainland China local media reported. Fast facts Gou Wenjun said at…
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China’s Fujian authority reiterates crackdown on crypto mining
More provinces in China are taking serious actions to crack down on crypto mining following the all-out ban announced on Sept. 24 by the country’s top authorities. Fast facts Southeast China’s Fujian provincial development and reform commission on Friday held a video conference meeting with local authorities to clarify their responsibilities and pledged to “clear…
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Digital yuan scams emerge across China as central bank readies e-CNY
Inner Mongolia police bust yet another digital yuan money laundering case.
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China fintech pilot projects include e-CNY, blockchain
The Beijing Securities Regulatory Bureau released a list of a first batch of 16 fintech pilot projects. Among the listed projects, four are based on blockchain and one uses e-CNY, the central bank digital currency. The projects are for exploring regulatory frameworks and tools for fintech. Fast facts The e-CNY-based fintech project will allow users…
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Bit Digital completes mining rig migration from China to US
Bit Digital, a Nasdaq-listed Bitcoin mining company headquartered in New York that had significant operations in China, said in its latest Q3 update that the exit of its mining fleet from China is now complete, with all of its miners having arrived in North America. Fast facts Bit Digital said it started the migration back in…
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China pledges to raid state-owned entities for crypto mining activities
China has yet again reiterated its determination to crack down on the cryptocurrency mining sector and revealed today that authorities will focus on state-owned entities engaging in virtual currency mining. Fast facts Wei Meng, a spokesperson of the National Development and Reform Commission (NDRC), the country’s top economic planner, said at a press briefing today…
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China sees another digital yuan fraud case
Chinese police have busted yet another tele-fraud case related to e-CNY money laundering as the country continues to test the digital currency.
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Taiwan has a chance to develop crypto amid China’s clampdown, Filecoin Foundation director says
As crypto projects are relocating from China to friendlier shores, it represents ‘huge opportunity’ for Taiwan.
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China ousts former official for supporting crypto mining, corruption
A former Chinese official has been expelled from the Communist Party of China for “serious violations of discipline and law” as he was found to introduce and support cryptocurrency mining activities, in what may be the first time for China’s anti-graft watchdog to expel an official over crypto mining. Fast facts The country’s anti-corruption watchdog…