Crypto in China

A Chinese court invalidates a crypto investment contract, ruling it illegal. Foreign investors face risks as China enforces strict crypto bans. A Chinese court has ruled that a cryptocurrency investment contract between a Singaporean investor and a Chinese citizen is invalid. The investor, Mr. Pan, collaborated with a Chinese citizen, Mr. Tian, to invest in a blockchain project. Pan’s financial support enabled the operation together with Tian who directed the technical aspects of operations....

Lange Zeit galt Bitcoin als eine Randerscheinung, ein Experiment für Technik-Nerds und libertäre Idealisten. Doch in einem sich rapide verändernden globalen Finanzsystem ist die Kryptowährung zu einer geopolitischen Waffe geworden. Der Wettlauf um Bitcoin hat begonnen – und er wird mit einer Intensität geführt, die an das Wettrennen um Gold in vergangenen Jahrhunderten erinnert. Die neuen Bitcoin-Jäger Vor allem aufstrebende Wirtschaftsmächte haben erkannt, dass Bitcoin nicht nur digitales...

Shanghai-based car dealership Cango Inc. has pivoted to Bitcoin (BTC) mining, announcing a $256 million acquisition of 32 exahashes per second (EH/s) in hashrate from Bitmain Technologies. In November, the company extracted 363 BTC, worth about $36 million, without liquidating any assets, positioning it as one of the top players in the global Bitcoin mining industry. Cango Joins BTC Mining Bigwigs According to The MinerMag, the move makes Cango the fifth-largest public...

Bitcoin has been very popular in the United States, Europe, the Middle East, and Latin America. The cryptocurrency has also enjoyed great success in neighboring South Korea and Japan. Cryptocurrency policy in China has been varied—from allowing citizens and residents of mainland China to own crypto, to banning the asset class in 2021. It would seem a court ruling in the Municipality of Shanghai has recently opened the door for Chinese citizens to own cryptocurrencies like...

Chinese fabless integrated circuit design company Nano Labs has announced that it has opened a Coinbase account and begun accepting Bitcoin payments for its products. Its decision to expand its global transaction options coincides with Bitcoin reaching an all-time high of $90,000. Nano Labs Turn to Bitcoin In its official press release, Nano Labs stated that it is responding to the growing demand for digital currency transactions in the technology sector by accepting Bitcoin...

In line with a broader trend among major tech firms, Chinese e-commerce behemoth Alibaba is downsizing its metaverse operations. The restructuring, which aims to improve efficiency, led to layoffs in Yuanjing, Alibaba’s metaverse unit, as the company recalibrates its focus in this sector. Downsizing Metaverse Unit According to the report by South China Morning Post, which is also owned by Alibaba, this move has affected “dozens” of employees. The layoffs reportedly impacted...

At the 2024 Tsinghua PBC Chief Economist Forum, former Chinese Vice Minister of Finance Zhu Guangyao urged China to re-evaluate its approach to the crypto industry. He cited the evolving international stance on digital currencies, particularly in the United States, where the asset class has gained political support from key figures like U.S. presidential candidate Donald Trump. Policy Shift In his speech, Zhu acknowledged the risks and challenges posed by crypto but...

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WeChat ist mit den verschiedensten Online-Inhalten verknüpft und kann selbst zum Online-Shopping genutzt werden. Denn ebenfalls von zentraler Bedeutung ist WeChat Pay, der integrierte Bezahldienst. Dieser wird in China von rund 600 Millionen Menschen genutzt und ist damit eine der wichtigsten Bezahlmethoden überhaupt. WeChat hat sich in...

Werbung für Antfinancial und AliPay an der Fussball EM 2024 in Deutschland AliPay, der chinesische Gigant im Bereich Mobile Payment, macht in Europa zunehmend von sich reden. Mit seiner breiten Palette an Funktionen, die weit über das reine Bezahlen hinausgehen, stellt sich die Frage, ob AliPay das Potenzial hat, die europäische...