Crypto in China

Most of the asset inflows recorded by Binance this year have come from Huobi – a China-based cryptocurrency exchange. The reports come after a few weeks of serious Chinese interest as well as major blockchain-oriented announcements coming from the country.Binance’s Inflows From ChinaInitially established in China, Binance left the country when the government placed a ban on trading and had its headquarters in Malta. With the latest news coming from China, though, and the interest picking up,...

Software giant Microsoft is developing a new way to ensure newly created cryptocurrency tokens are easy to audit and much harder to fabricate.Microsoft Brings Azure to the TableKnown as Azure Blockchain Tokens, the platform has been utilized by several video game companies to create tokens that players can earn through gameplay. Now, Microsoft is taking the system to new heights and spreading its services to companies like General Electric, which is now among the first major conglomerates...

The People’s Bank of China (PBOC) and the Shanghai commerce commission have issued a joint statement signaling their support for blockchain use in commerce. China Goes All-In on Blockchain According to the agencies, decentralized technology can be used in trade finance to resolve asymmetries and validate transactions. In the published document, the two government institutions underscore the cost-effectiveness of blockchain systems, while affirming their appropriateness in international...

One of the most anticipated events within the cryptocurrency community was supposed to take place during the summer when Justin Sun won a charity lunch with Warren Buffet. Days before the event, though, Sun said that he had health issues, and the lunch was indefinitely postponed. New information appeared now, according to which the Chinese administration might be the real reason behind the postponement.China Behind the Lunch Postponement?Back in June, Justin sun, the founder of one of the...

China is set to allow cryptocurrency mining. The nation hosts the four largest mining pools around the world. The Chinese government is making significant steps towards the adoption of blockchain technology. Cryptocurrency mining will be kept alive in China. The news come after President Xi Jinping announced that his country will “take the leading position in the emerging field of blockchain.” China Will Allow Crypto Mining The National Development and Reform Commission (NDRC), one of the...

The People’s Bank of China signed a partnership with Huawei, reportedly to develop blockchain technology for China’s sovereign digital currency. It comes just a week after Xi Jinping pledged that China would “take the leading position” in blockchain. Zuckerberg’s ominous warning – that China could erode America’s “financial leadership” – is slowly materializing. Last month Facebook CEO Mark Zuckerberg appeared before Congress and delivered a warning to lawmakers: get behind digital currency...

Over the last few months, the rising tensions due to the escalating U.S.-China trade war has left global investors in worry. Several analysts have also raised fears of possible recession by the next year.However, some of the indicators still suggest that the U.S. stock market is all poised for a massive rally before the end of 2019. In its latest article, CCN mentions some of the strong indicators that can support the market rally ahead. Some of the powerful indicators include “positive...

A question is ringing through the minds of both the general public and regulators: Should the Fed develop a national cryptocurrency?What Could the Fed Do to Improve Things?We’ve discussed China’s plans to develop a state-issued cryptocurrency – likely a digital yuan – as a means of stabilizing its economy, monitoring people’s transaction histories and competing with the likes of Facebook’s Libra. Recently, Live Bitcoin News covered a new law passed in China that permits the digital yuan to...

China is moving quickly to ensure it’s ahead of the curb when it comes to blockchain innovation.China Is Pushing Its Blockchain Agenda ForwardThe country has recently implemented a new law that will promote blockchain as a means of heightening and expanding the nation’s infrastructure. The law will also permit the country to unveil its new digital yuan currency designed to compete with the likes of Libra.There is both a good side and a bad side to this situation. First off, the addition of a...

A Russian company has decided to turn an aluminum plant into a crypto mining facility. The facility plans to take on China’s supremacy in bitcoin mining. If bitcoin manages to trade around $9,160, the Russian company estimates profits of up to $99 million per month. The cryptocurrency industry is having an exciting month as governments and private entities make announcements that contribute to the growth of the field. First, it was reported that billionaire Peter Thiel along with...