China’s crypto presence shrinks, while the U.S. rides the tide
More industry players are exiting the Chinese mainland market amid tougher crackdown.
Top China retail platform to accept digital yuan during Double 11 shopping festival
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 […]
China’s crypto investors get creative to bypass domestic trading ban
Some are registering companies overseas, via — you guessed it — Taobao vendors.
China fuels blockchain development despite stricter crypto ban
Authorities encourage new ways to apply blockchain across various industries, although there’s no room for crypto
Crypto tax critical to Korean election: China crackdown continues
South Korean presidential hopefuls lean towards delaying crypto tax to impress younger voters.
China’s Zhejiang province busts covert crypto mining operations — some within public entities
Hidden mining tracked by IP addresses to state agencies, enterprises, institutions, schools
China Mobile launches a network-less E-CNY wallet
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 […]
Crypto mining pool AntPool to stop IP access from mainland China
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. leads in Bitcoin mining as China’s share drops to zero: Cambridge data
U.S., Kazakhstan, Russia take up largest Bitcoin hashrate shares as the exodus of Chinese miners continues.
Crypto platforms Cobo, Gate.io leave mainland following China crypto ban
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 state-backed blockchain network, U.S. firm team up to enhance CBDC efficiency
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 to shut down yuan trading on C2C platform after China’s crypto ban
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 […]
China to ‘outdate’ crypto mining industry with more restrictions
The country’s top economic planner hopes to prohibit investment in what it considers an energy-intensive sector.
McDonald’s China launches first NFT to commemorate 31 years in mainland market
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 […]
Postal Savings Bank of China tapped for development role in digital yuan payments
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 national blockchain network to expand to Turkey, Uzbekistan
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 Jiangsu province works to wipe out covert crypto mining
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 […]
Why domestic and overseas Chinese should worry about China’s crypto ban
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.
e-CNY wallet launched in China allows transfer via chat window
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 […]
How will China’s new dictates affect Hong Kong’s future as a crypto hub?
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.
Government-backed NFT art-trading market launched in China’s new duty-free port
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; Gamevil increases Coinone stake
DeFi benefits from China ban while Gamevil increases Coinone stake
Following crypto ban, digital wallet imToken restricts some access for China users
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 […]
Why China’s latest stomp on crypto is turbo-charging DeFi growth
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?
Who in the world should worry about China’s new crypto ban?
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?
How China’s crypto clampdowns could reshape the rest of the world
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; Korea discusses virtual asset law
China crackdown legal concerns as Korea also discusses virtual asset law
Unmade in China: Beijing’s crypto cold war turns hot
Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.
BeePool, Tiger Brokers among the latest to respond to China’s crypto ban
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; Korea digital custody competition heats up
China fallout hits mining meanwhile Korea digital custody competition heats up
Ant Group and Tencent obtain the most blockchain patents in China: report
China saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.
China’s BSN to set up foundation in Singapore to fuel international expansion
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, […]
Crypto mining players continue to flee China as latest ban kicks in
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.
The curious timing behind China’s thunder and lightning at crypto
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: What it means
China’s crypto crackdown and what it means
FTX CEO: This is the canary in China’s crypto ban coal mine
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.
Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto
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.
Industry players scramble, evaluate options as China bans all crypto transactions
China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
China’s crypto ban: what you need to know
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.
Crypto markets shrug off China’s latest saber-rattling
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.
What does China’s crypto ban really mean? Insights from the ground
China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
Crypto market is shaken as China declares all crypto transactions illegal
Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
China’s Inner Mongolia seeks out stealth crypto mining operations
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 […]
China’s e-CNY rollout enters ‘sprint stage’ for Beijing Winter Olympics
Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.
China’s blockchain infrastructure project goes live in Hong Kong, Macau
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.
Litecoin unloved at Walmart. Cardano’s Alonzo upgrade. China takes aim at NFTs.
Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.
Bank of China, DBS and HSBC partner with GSBN on digitizing trade finance
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 says the metaverse will be popularized in two decades
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 […]
China’s e-CNY soft rollout continues, while Moody’s frowns at use of CBDCs in cross-border payments
A tourist spot in South China’s Hainan province to hand out digital yuan, while Shenzhen tests adoption for Hong Kong residents.
China’s Hebei and Gansu provinces to phase out crypto mining
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 […]
China-run media outlet criticizes NFT platform as a payment risk
In the latest response to a growing interest in non-fungible tokens, Beijing Business Today faults an art marketplace.
China state mouthpiece criticizes NFT mania
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; China sees warning over NFT hype
E-CNY problems to be solved, also China sees warning over NFT hype
China’s central bank reports progress, challenges on e-CNY adoption
PBOC still working out regulatory rules, acceptance environments and payment systems.
Hangzhou launches China’s first intellectual property blockchain certification platform
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; Metaverse actions heats up in China
Bitcoin price plunges however Metaverse actions heats up in China
Digital-friendly services, products booming as China promotes e-CNY
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 […]
Jack Dorsey’s Bitcoin bourse. Are NFTs in bubble trouble? China banks on e-CNY.
Top blockchain and crypto news: Does TBD stand for Twitter Boss Decision? NFTs’ ballooning interest. How billions in e-yuan are coursing through China.
Securities Association of China meets with brokerages to promote blockchain uses
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 […]
China’s state-backed blockchain network to expand to South Korea
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?
Three state-owned banks in China release e-CNY usage data
Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.
Bitcoin bulls brace. CryptoPunks’ pulling power. China’s crypto lawfare.
Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.
Court in China says trading in cryptocurrency ‘not protected by law’
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
Upbit submits compliance report: China’s e-CNY trials broaden
Bit Digital reports growing losses as it moves crypto miners from China to North America
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 […]
As China cracks down on crypto, blockchain technology keeps flowering
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 shuts down website and social media of high-profile blockchain center
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 […]
Amber Group partners with ETH Zurich, China’s Southern University of Science & Tech on crypto risk management
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 […]
NFT trade takes off. Tether’s bankable reserves. Tencent targeted in China.
Top blockchain and crypto news: NFT wave buoys OpenSea. Are dollars and sense a lifeline for Tether? Tencent gets a target on its back.
China’s mining exodus flows to U.S. Is Texas the new promised land?
Poolin, a major mining pool in China, has set sail for America. ‘Large players are all over the U.S. now looking for deals.’
China’s central bank to accelerate digital yuan pilots for Winter Olympics
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; Google allows crypto advertising
China continues e-CNY pilot also Google allows crypto advertising