Crypto in China

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,...

A leading Chinese marketing and management behemoth, ChinaNet, has announced that vibrant and pro-blockchain Mr. Yingguo Guo is now the new Chief Technology Official (CTO) of the company, according to a press release today.ChinaNet Hires Pro-Blockchain ExecutiveChinaNet is a NASDAQ-listed company (Nasdaq-CNET). According to the company’s website, ChinaNet is “integrated online advertising, precision marketing, and data analysis and management services platform” that is focused on providing...

The general consensus this year, even by people who aren’t exactly deep into financial metrics, is that 2019 has been mostly good. On average, global stock markets have performed impressively and still push on. For specifics, Deutsche Bank’s Chief Economist Torsten Slok has highlighted the global stock markets’ 2019 pump to be over $17 trillion.For several reasons including more attention by government and financial authorities, the progress has been quite noticeable. According to Slok,...

The British Virgin Islands are trying to take over the monetary space by establishing their own cryptocurrency. The asset would serve as the region’s national form of fiat, but how valid is the plan?British Virgin Islands Constitute High Levels of Crypto ActivityIt appears we’ve entered an age where virtually every country or corporation is looking to establish some sort of presence in the crypto arena. Examples include China and, of course, Facebook.China is a huge country with more than a...

2019 has been a very interesting year for the stock market. While it has had its ups and downs as should be normally expected, it’s performed quite impressively regardless of certain issues. One of the most popular issues that have affected the stock market and the economy at large is the trade war between the U.S. and China that has been going on for a while now. Both countries have repeatedly slammed each other with tariffs that have had significant effects on both economies. However, both...

U.S. markets seem to have responded positively to the recent first phase of the trade deal that has partially solved the current impasse between the United States and the People’s Republic of China. Sources indicate that yesterday’s gains were the fourth straight day that the United States markets were in the green. According to reports, the S&P 500 gained 0.7% to end the day at 3,191.45 while the Nasdaq Composite jumped 0.9% to 8,814.23 while the Dow Jones Industrial Average (DJIA) went...

United States trade representative Robert Lighthizer said on Sunday that the “phase one” of the U.S.-China trade deal is “totally done”. Among several conditions, one of them is regarding China buying more of U.S. agricultural products. As per Lighthizer’s words, the U.S. exports to China will be doubled from now on. He added that the exact date and location for signing the agreement are to be determined.The thing is, the tensions among the two countries were rapidly growing during the last...

The investors in tech stock were pretty concerned this week since the infamous date of December 15 was approaching.However, now they can relax a bit since on Thursday United States President Donald Trump signed off on a so-called phase one trade deal with China, averting the December 15 introduction of a new wave of U.S. tariffs on approximately $160 billion in consumer goods from Asia.The deal presented to Trump by trade advisers Thursday included a promise by the Chinese to buy more...