Crypto in China

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A billion-dollar crypto money laundering case in China has come to an end. Authorities say they busted an illicit group of money launderers who used a total of 40 billion yuan (roughly $5.6 billion in USD) to purchase digital currency funds. China Is the Center of a Major Crypto Money Laundering Case Arrests of over 90 individuals alleged to have been involved in the case recently occurred in the county of Hengyang, which is centered in China’s southern province of Huna....

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 Digitaler Yuan als Stütze gegen den starken US-Dollar: Chinesische Zeitungen berichteten, dass die Regierung im Reich der Mitte eine digitale Gemeinschaftswährung mit...

Law enforcement agents from Hengyang (a city in the southern Chinese province Hunan) have reportedly busted a criminal group that employed cryptocurrencies to launder 40 billion yuan (approximately $5.6 billion). Over the past several months, China’s authorities halted numerous similar schemes, arresting thousands of people. The ‘Hundred-day Action’ According to a local coverage, the Chinese police arrested 93 individuals in the city of Hengyang on suspicion of laundering...

Despite what appears to be an ongoing hatred for bitcoin and endless attempts to rid itself of the world’s number one digital currency by market cap, China still holds a rather strong position in the crypto market. China Still Hosts a Lot of Mining Just over a year ago, China shocked the world by announcing that it was going to end all bitcoin and crypto mining operations within its borders and it declared the process of extracting units from the blockchain illegal. The...

The World Trade Organization (WTO) members have secured an unprecedented package of agreements at the 12th Ministerial Conference (MC12). Aged 31, Justin Sun witnessed the attainment of the „Geneva Package“ as head of the Grenada delegation. “That is a thrilling and sacred moment,” the young billionaire later recalled. Prior to attending the MC12 as the Ambassador of Grenada to the WTO, Justin Sun was widely known as the Founder of TRON. Statistics from TRON show that the platform,...

China may have banned cryptocurrencies on its territory, but blockchain technology remains a key priority area for the government. Its global ambitions in this space are just taking off with BSN Spartan Network, which is advertised to be open-source and free from the Chinese government’s snooping. BSN’s Spartan Network Blockchain-based Service Network (BSN), a project backed by the Chinese government, is planning to launch its first major international service, the Spartan...

China outlawed Bitcoin mining last May. Exactly a year later, the country has re-emerged as the leading venue for mining operations. A new study revealed underground mining activity in the country had catapulted it to second place globally in terms of installed mining capacity. China’s Apparent Comeback Cambridge Centre for Alternative Finance (CCAF) reported the surprising resurgence and further stated that China currently dominates with a 21.11% market share just behind the...

Bitcoin is often touted as something that can potentially move the world in the right direction. It allegedly offers people financial freedom and more control over their monetary decisions, and the world’s number one digital currency by market cap appears to be producing solid results in foreign markets and nations. How Is Bitcoin Helping People Around the World? One case where the currency is performing acts of good is in both China and North Korea. Not long ago, North...

The Chinese authorities will reportedly give away 15 million yuan ($2.3 million) in e-CNY to the residents of Shenzhen’s Futian district. The move aims to boost the adoption of China’s CBDC and promote the financial product among broad society. China’s Latest CBDC Efforts Unlike its hostile viewpoint on digital assets, the government of the world’s most populous country has an entirely different stance on central bank digital currencies (CBDC). Over the past year, the...