Crypto in China

The cryptocurrency market, being a relatively young and small one, is frequently affected by external forces. Sometimes, one of those factors could sound a bit strange on the surface, but it could deliver a severe impact. It’s the Chinese New Year.The Holiday is taking place during the next weekend, between January 25th (Saturday) and 27th (Monday), a quick look at the Bitcoin’s longer-term price chart can reveal this occasion had a tremendous Bearish effect on the price of Bitcoin over the...

There is great fear traveling through the crypto space… Fear that somewhere down the line, bank-issued cryptocurrencies will somehow replace bitcoin and its altcoin counterparts.Will Bitcoin Be Replaced?But is that fear valid? We need to look at a few facts before we can make an official decision. For one thing, these cryptocurrencies issued by financial institutions will be centralized, meaning the banks will be in control of who receives the crypto units and what they can be used for. This...

Bitcoin, at the time of writing, is still performing quite well and is trading for just over $8,700. The currency has experienced a slight drop of less than one percent over the past 24 hours, though it’s still maintaining its present position in the high $8,000 range.Bitcoin Is a Popular AssetNaturally, analysts are rushing to the “prediction space,” looking to see what could be responsible for the currency’s sudden surge and to discuss where they think it will wind up by the time 2021 is...

China has reportedly published a second printing of its textbook guide on blockchain and cryptocurrencies. It educates readers about their future usage and potential impact on the world. While teaching about the former is more easily accepted, the latter might come as a surprise since crypto trading has been banned for years in the country.China’s Blockchain and Crypto GuideChina’s Communist Party has released the second printing of a blockchain and cryptocurrency guide, according to a recent...

China’s central bank is reportedly preparing a new set of stricter rules that will affect public privacy and personal information. The update will make nine significant changes regarding leasing services and other types of financial transactions, and the community has quickly brought up Bitcoin and its potential to be used freely in similar situations.China Implements Strict Financial RulesLocal news outlet recently shared the updated version of the Chinese central bank’s personal credit...

Darn it! China was doing so well, too. Following all the hype and hoopla about China finally saying “yes” to bitcoin mining, it seems the country doesn’t have enough electricity to provide for all the new operations.China Says, “Slow Things Down!”China recently announced that all cryptocurrency mining activity would be legal within its borders. This was a big deal considering the country’s strained relationship with bitcoin and its altcoin cousins. For one thing, regulators were long debating...

Sichuan ist eine chinesische Provinz, die im Südwesten des Landes. Foto: Chengdu Strommangel: China zwingt Bitcoin-Miner zur Senkung der Schürf-Effizienz. Aufgrund der bevorstehenden Trockenzeit hat Chinas Regierung Bitcoin-Miner in der Provinz Sichuan dazu gezwungen, ihren Stromverbrauch drastisch zu reduzieren und bei Vergehen harte Massnahmen angedroht. Strombedarf der...

Initial coin offerings (ICOs) may be coming back to China, but this isn’t necessarily a good thing.ICOs Are Making an Unwarranted ComebackChina has issued a statement saying there’s been a “resurgence” of bitcoin, crypto and blockchain-related activities within the nation’s borders. One thing that’s allegedly been happening, according to sources, is that ICOs are making a slow but triumphant return to the country, but this isn’t warranted or promoted by regulators. They just seem to be...

China’s virtual currency – the digital yuan – is set to make its official debut, and many residents and potential users aren’t happy about the way it’s structured.The Digital Yuan Isn’t for SpeculationRecently, the country issued a new law that would allow for the creation of such a coin. China had commented in the past that the digital yuan is designed to assist the nation in competing with Libra, the new cryptocurrency project being set forth by the social media conglomerate Facebook.For...

Is China suddenly withdrawing the legality of cryptocurrency mining?China Takes a Stab At a Mining OperationRecently, the country – which has held a rather negative attitude towards bitcoin and digital currency – announced that the process of mining and extracting new digital coins was legal. China had been engaged in a hot debate over the legality of crypto mining given that it was allegedly causing irreparable damage to the environment. However, after several months of going back and forth,...