Crypto in China

China has banned cryptocurrency. As one of the largest territories in Asia, one would think that the nation of China is setting the stones in place for a continent that has no desire or use for the world’s number one digital asset, but apparently, the situation has led to the exact opposite. Asia Is Moving Ahead as a Crypto Haven Despite China’s sudden hate for BTC, it looks like crypto activity in Asia has grown by more than 700 percent over the past few months, almost...

Here’s some good news, folks. Bitcoin has shot up by more than ten percent at press time! The world’s number one digital currency is now trading for just shy of $48,000, the highest it’s been in weeks. Bitcoin Is Really Starting to Move Up The currency has had a rock-and-roll run throughout 2020 and 2021 both. In 2020, the currency fell briefly below the $4,000 per unit line. This was just as the coronavirus pandemic began permeating global economies everywhere. During...

Bitcoin’s price is more than 60% up since the start of the year. Yet, it’s nearly 30% down since the April peak. With just a few months left until the end of the year, predictions are flying left and right about the asset’s price tag at that point. One of the most popular models – the Stock-to-Flow – sees BTC tapping into a six-digit territory by December’s end. If bitcoin is to go into such unseen and unimaginable (until recently, at least) heights, it would have to more...

Elon Musk – the South African billionaire and entrepreneur behind mega companies like Tesla and SpaceX – believes that crypto regulation should not exist and that governments should just mind their own business. Elon Musk Doesn’t Care for Governments Getting Involved in Crypto Musk is echoing the age-old argument that digital currencies are designed to be decentralized assets. They are not meant to be overseen by banks or standard financial institutions. Third parties...

Mainland Chinese users of KuCoin will have to withdraw all their funds and close their accounts by the end of the year, said the exchange earlier today. This is a direct consequence of the latest crackdown from the People’s Bank of China. Citing the regulatory pressure from the Chinese authorities, KuCoin announced earlier on October 3rd that all local users will have to close their existing positions and withdraw the remaining funds out of the exchange before 24:00 (UTC +8)...

The recent death punch to both bitcoin and its crypto counterparts by way of China has got the entire digital currency space in a grip of fear. Now, many crypto exchanges are beginning to drop Chinese customers as a means of avoiding trouble down the line. They are not accepting traders from China, nor are they allowing the Chinese customers they already have onboard to stick around much longer. China Is Hurting Its Crypto Traders China has been on a serious roll to...

It’s been a very productive week in the cryptocurrency market, but it’s safe to say that most of it was due to the volatile price action during just one of the days – Friday, October 1st. Going back, last Friday, the BTC price was hovering around $43,500, and, in fact, it stayed there for quite some time. This wasn’t so bad, given the overall regulatory scrutiny towards the market and yet another wave of FUD coming from China. The country said that it’s banning the trading of...

Speaking at CNBC’s Delivering Alpha conference on Sept. 29, a16z partner Katie Haun said the U.S. should look towards China for what not to do. She was referring to Beijing’s incessant crackdowns on the crypto industry and any activities related to the trade of digital currencies. In her view, financial regulators in the U.S. should be doing the exact opposite, but at the moment, it appears they are following in China’s footsteps with moves to over-regulate crypto rather than...

According to JPMorgan, many investors are trading their bitcoin in for Ethereum. JPMorgan: Ethereum’s Stature Is Growing The world’s number one digital currency by market cap has suffered as of late thanks to additional actions taken by China, which seems to be hellbent on removing bitcoin from every corner. After recently announcing that all transactions and activities relating to digital currency were outlawed, the currency fell by about $2,000, dipping from $44,000...

After China recently banned all crypto-related activities in the country, crypto exchange Huobi Global had to limit mainland Chinese citizens from registering on the platform. As a consequence, the Huobi pool – the eighth biggest BTC pool-  is now moving a massive amount out of their funds, possibly to cover the client withdrawal needs on the exchange. $4.21 Billion Flowing Out From Miners Data from research company IntoTheBlock shows that Huobi Pool has recently moved almost...