Regulation
Latest digital yuan trial launches with backing of JD.com, Bank of Communications
E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.
Timmy Shen
Lens
China
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Advanced Blockchain Technologies
Two Chinese provinces use state blockchain platform for export credit insurance worth US$3.27B
Chinese central bank branches in Fujian and Guangxi provinces have announced that their provinces did US$2.4 billion and US$875 million, respectively, of blockchain-based export credit insurance financing for the first half of 2021. Fast facts Fujian Province struck a total of 6,516 insurance deals, and Guangxi Province saw 166 enterprises participate. On May 17, the […]
Ningwei Qin
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Regulation
Chinese central bank shows no sign of softening stance on crypto
People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.
Timmy Shen
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Regulatory News
Chinese authorities swoop on 380 suspected crypto and wire fraud groups in 1H 2021
Wire fraud, including cryptocurrency-related fraud, becomes fastest-growing crime as scams — some even involving China's digital yuan project — proliferate.
Kelly Le
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Advanced Blockchain Technologies
Friends may forgive debts, but WeChat’s new blockchain IOU won’t let anyone forget it
China’s internet giant Tencent launched a blockchain-based digital IOU service on its flagship product WeChat, one of the nation’s most popular apps for messaging and payments. Fast facts Aside from Wechat’s existing “mini receipt” and “mini contract,” Tencent says its new IOU function would allow friends to borrow money more easily from each other, according […]
Kelly Le
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Regulation
Iran’s electric utility issues warning about Chinese crypto miners
Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto […]
Timmy Shen
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Regulation
Crypto mining rig giant Bitmain divests from AntPool, the world’s biggest mining pool
Bitmain's move comes amid China’s crypto mining crackdowns and AntPool's shrinking hashrate. Is Bitmain gussying up for an IPO?
Kelly Le
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Bitcoin News
Amazon’s brush with Bitcoin. Robinhood IPO looms. Huobi backs out of Beijing.
Top blockchain and crypto news: Is Amazon taking up BTC? Robinhood’s share sale deserves scrutiny. Did Huobi jump or was it pushed?
Forkast.News
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Regulation
Huobi’s stock plunges in Hong Kong as it shuts Beijing unit
Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.
Timmy Shen
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Regulation
Chinese crypto firms donate millions of yuan to flood-hit Henan
Three blockchain and crypto-related companies have donated hundreds of millions of yuan to China’s Henan Province, which has suffered deadly floods since last week. Fast facts Bitmain, a crypto mining firm was the first to announce a donation of 10 million yuan (US$1.54 million) on July 23 to a charity federation in Zhengzhou, the provincial […]
Kelly Le
