Crypto in China

People’s Bank of China and Alibaba Group’s affiliate Ant Group have joined forces to create a platform supporting the central bank digital currency. According to Global Times, PBoC has been working together with Ant and Tencent for the last three years on developing the e-CNY. A Move Towards e-CNY VOA News announced on May 3rd that the Chinese central bank and Alibaba’s associate Ant Group have signed a deal on developing a digital yuan with mutual efforts. The move will be...

The Chairman of the Federal Reserve outlined that the US will not haste its own digital currency project despite China’s rapid advancements. He revealed that the CBDC approach undertaken by the Asian country will not be effective in the USA. China’s CBDC Won’t Work in the US With the rapidly expanding topic of central bank digital currencies (CBDCs) in countless countries, the world’s largest economy is yet to provide a definitive stance. Although the US dollar remains the...

Six of the biggest banks in China’s megapolis Shanghai are supporting the digital yuan ahead of a May 5th shopping festival. The move represents a direct threat to the country’s top two payment providers – Alipay and WeChat Pay. The Digital Yuan vs. Alipay and WeChat Pay According to a Reuters report, some of the leading banks in China are pushing the digital yuan ahead of a shopping festival in the country. Purportedly, they are attempting to persuade merchants and retail...

China ist nach eigenen Angaben kurz davor, eine eigene Kryptowährung herauszugeben. Eine Einführung stehe "kurz bevor", sagte der Vizedirektor für den Zahlungsverkehr der chinesischen Notenbank auf einer Konferenz. Foto: Zentrale der PBC in Peking, CC 4.0 by Max12Max, Wikipedia Ändert China die Einschätzung zum Bitcoin? Vor vier Jahren wurde der Handel mit Bitcoins in China...

China has had a very up-and-down relationship with bitcoin. The nation has often been rather harsh with the world’s number one digital currency by market cap, and yet in many ways, it holds a large stake in the digital currency market. Much of the world’s bitcoin mining operations stem from China; it houses the two biggest distributors of mining equipment in both Bitmain and Canaan Creative, and it was once one of the world’s largest purchasers of BTC. China Now Seems to...

Super Talent 2.5in SATA SSD Foto Public Domain via Wikimedia SSDs sollen noch teurer werden. Die hohe Nachfrage zum einen und der Mangel an SSD-Controllern zum anderen dürften bereits im zweiten Quartal des Jahres zu einem Preissprung führen. Ursächlich dafür sind auch chinesische Bitcoin-Miner. Preissteigerungen bei SSDs SSDs sind weltweit im Kommen. Der steigende Bedarf an...

The hype ahead of the launch of the Chia Network is making waves, and it is already starting to affect non-cryptocurrency-related sectors all around the world, especially from southeast Asia. The project, which uses the storage space as a transaction validator, has grown by leaps and bounds and is already causing a shortage of high-performance SSDs and HDDs. Buy All The SSDs! According to a report from the Hong Kong technology news website HKEPC, investors are buying up as...

Despite the massive interest from central banks for CBDCs, nearly 70% of the projects are running only pilot programs and are far away from an actual launch. The Bahamas and Cambodia are the leading countries in a ranking listed by PwC while the biggest economy in Asia – China lines up third. CBDCs Are Not Here Yet Central bank digital currencies (CBDCs) have been a hot topic in the past few years. A paper released by the Bank of International Settlements last year informed...

Chinese police officers have confiscated nearly $4 million in various cryptocurrencies after a raid against several developers that operated a decentralized gambling app built on the EOS blockchain. $3.8 Million in Crypto Seized After receiving tips of suspected illegal activity involving the developers of the dApp called Biggame, the Jiangsu police department opened an investigation. Ultimately, this led to the arrest of 15 people. During the raid, the authorities found and...

Peter Thiel – a libertarian and the co-founder of PayPal, arguably the largest digital payment platform in the world – has taken some serious guff over the past week thanks to some comments he made about bitcoin and China. Thiel Doesn’t Want China to Use BTC Against America In a recent interview, Thiel commented that the Chinese could potentially weaponize bitcoin and use it against its enemies like the United States. He recommended harder regulation be put in place so...