After Shanghai, the Shenzhen government is also now investigating cryptocurrency exchanges. The move comes to be a fresh step to crack down on crypto-related businesses in China. As per the reports, the finance bureau of Shenzhen has identified undisclosed 39 entities suspected of involvement in crypto-related Ponzi / fraud schemes....
There’s a very interesting saying that almost every culture uses and that’s “Fighting fire with fire”. This phrase has not been more relevant than in the United States-China trade war that has been going on for a couple of months now. It seems that the trade negotiations have been boiled...
Recently People Bank of China (PBoC) said that the main purpose behind creating a new blockchain-based payment system is to mitigate the financial risk posed by existing electronic payment platforms which are highly dominated in China by just two private players – WeChat and AliPay. Read more: Why central bank...
The People Bank of China (PBoC) has released a statement on Nov.13 that reports of PBoC have issued the digital currency is false. Adds it has not authorized any asset trading platform or institution to distribute the legal-digital currency. The official also asked the general public to not trust any...
A few days back, the price of bitcoin exhibited a bearish momentum falling to an almost staggering $7,300. Many anticipated Bitcoin was on the verge of another downfall. Fortunately, the Bitcoin market soared from $7,300 to $10,500 in the days after Chinese President Xi Jinping expressed his support for blockchain,...
More details about China’s digital currency have been revealed. As per the official, holders of the currency would not receive interest payments.
China publishes a blockchain-based system for identification. The system will integrate with the existing infrastructure of smart cities, facilitating data sharing to make life easier for residents and improve local administration. The blockchain-based identification system was jointly developed by three institutes in Shijiazhuang. Cities nationwide now can apply for their...
People’s daily newspaper published by China ruling communist party on Monday urged investors to remain rational as stock prices of blockchain firms or tech firms believed to be engaged in blockchain business sore to 10% after China’s President Xi positive comments on the blockchain technology. The Chinese government started cracking...
The Standing Committee of China National People Congress voted on Oct 26 to pass cryptography law, which will go into effect on Jan 1, 2020. The new law focuses on the regulation of cryptography-based password management and practices to follow for products and services that use cryptography encryption for protecting...
China’s President Xi Jinping said China should take a leading position in the development, research, and investment in blockchain technology. He made the remarks in the 18th Political Bureau of the Central Committee held on Oct 24, 2019. Addressing the committee, Xi Jinping stresses that it is necessary to promote...
