Crypto in China

Recent Chinese reports informed of hidden Bitcoin mining rigs stealing electricity in the northern city of Daqing. Interestingly, the perpetrators were concealing their operation under two mysterious grave mounds in a relatively empty field.BTC Mining Operations In HidingAccording to the recent report, a Chinese oil field company sent a tip to local police asking them to investigate suspicious power losses near Daqing. Upon arriving at the scene, the police officers spotted something somewhat...

OK Group, a leading blockchain company and operator of OKCoin cryptocurrency exchange, has announced the launch of a new blockchain development scheme to help develop blockchain talents in China.OK Group Launches OK RecruitAccording to the press release, the initiative dubbed “OK Recruit” is a blockchain recruitment and training scheme designed to help create hundreds of job opportunities in different areas of the blockchain industry, particularly in research, development, and...

Tension between the U.S. and China is spiking, and many are worried about what will happen with bitcoin.China Is Being Eyed by the U.S.On Thursday, President Trump explained to a room full of reporters that he and fellow regulators are looking into what their options are for dealing with China. The nation is widely blamed for the release of the coronavirus on the world, and Trump is potentially looking to initiate economic strikes against China in the form of further sanctions and tariffs.The...

China’s national currency, the yuan, is slipping in price, and it looks like the currency’s downfall could be good for bitcoin.As the Yuan Heads Down, BTC Moves UpThe currency fell by about 7.16 percent against the U.S. dollar on Tuesday. This is the yuan’s lowest numbers since last September, and the decline is only slated to get worse. In the past, every time the yuan has slipped into red territory, bitcoin has swiftly moved up, meaning that if this trend continues in any way, we could...

Could the United States and China enter a cold war now that the coronavirus pandemic is beginning to calm down? According to some analysts, this is very much a possibility, and should both east and west take this route, the results could be quite positive for both gold and bitcoin.A Cold War Between the U.S. and China?Both assets have been getting a lot of attention lately from figures such as Robert Kiyosaki, the author of “Rich Dad, Poor Dad.” In a series of tweets, Kiyosaki recently warned...

Chinese multinational tech behemoth, Tencent has revealed its plans to invest heavily in emerging technology industries, including blockchain.Tencent To Invest $70 BillionAccording to a Tuesday report, the company will, over the next five years, invest 500 billion yuan ($70 billion) into this project, which it describes as investing in “new infrastructure.” Speaking about the development, Dowson Tong, Senior Executive VP at Tencent, revealed that the investment covers other tech sectors such...

New information suggests that local government authorities in the Chinese province Sichuan are seeking to ban cryptocurrency mining operations in the region.Contrary, sources familiar with the matter claim that these notices are misunderstood, and crypto mining will not suffer major negative consequences.A Region In China Clamps Down On Crypto Mining?The story began with the local media outlet PANews posting on Twitter the notice, which reads:“The Financial Administrative of the Sichuan...

Bitcoin kissed the $10K mark goodbye this week as the cryptocurrency dropped to as low as $8,800 on Thursday, reaching the trend-line that was forming since the massive drop in March. As expected, BTC received strong support in that area, and its price quickly recovered to around $9,200, where it’s currently trading.The dump started suddenly as Bitcoin’s price flash crashed on Bitstamp and reached $9,100 in less than a minute. Even though it recovered after that, it turned out to be an...

An education institution in China, training officials from the country’s Communist Party, has published yet another book on cryptocurrencies. The authors include the former Vice President of the People’s Bank of China (PBoC), as well as other formerly high-ranked officials.China Continues Its Efforts in the IndustryAccording to a recent report from the local press, China’s Central Party School of the Communist Party has published another book from its Blockchain series.The authors of the book...

Leading cryptocurrency exchange, Binance is back to China after leaving the country in 2017 due to the ban on crypto trading activities. However, the exchange’s return to China is not for crypto. It is to promote blockchain research and development in the region and across the world. “Binance China” Platform Goes Live Local media reported yesterday that Binance has officially launched a Binance China website. The domain name was registered with the Chinese government as “Binance.cn” in April...