Tag Archives: China

China’s blockchain growth in terms of newly added firms in 2020 has surpassed the total figure seen in 2017. With support from the government, startups dedicated to developing decentralized ledger technology (DLT) are increasing in number with the country looking to dominate the emerging digital landscape.Current 2020 Figures Topple 2017’s TotalIn a tweet by blockchain and crypto data platform LongHash on Friday (August 7, 2020), China’s blockchain sector has seen an impressive growth so far...

The Chinese central bank digital currency (CBDC) could be approaching its long-anticipated launch as new reports indicated that multiple local commercial banks have begun conducting trials of a digital wallet application linked to the CBDC.Chinese Banks Test Digital Wallet App For CBDCIn the latest turn of events regarding China’s future digital currency, a Reuters report asserted that several large state-run commercial banks are conducting internal testing of the digital wallet app....

China has arrested more than 100 separate individuals who may have taken part in the Plus Token scam that resulted in more than $1 billion in stolen crypto funds.Plus Token Is One of the Biggest Ponzi SchemesInitially based in South Korea, Plus Token was designed to be a “high-yield” investment plan that allegedly offered massive funds for all who took part. As much as 18 percent yield was promised to investors from both South Korea and China granted that they were willing to store...

This week was nothing short of exciting in the cryptocurrency markets. Bitcoin definitely woke up from its slumber and made a few aggressive moves upwards. Altcoins felt the pain as most of them decreased in value as the king of crypto took its toll. In seven short days, Bitcoin went from around $9,600 to $11,400, charting gains upwards of just shy of 20%. Earlier on Monday, the cryptocurrency catalyzed its performance, jumping from $9,800 to $11,200. After that, it...

China has no reservation against ‘Bitcoin activities as virtual commodities,’ the Beijing Arbitration Commission (BAC) said in a report today. The report also added that the country’s laws and regulations ‘do not prohibit’ private possession and legal circulation of BTC.Bitcoin Is Not A Currency, But A ‘Virtual Commodity’Today local non-profit arbitration organization, the Beijing Arbitration Commission, pointed out in a report that Bitcoin cannot be used as a currency. It is not a legal...

After perpetuating one of the largest fraudulent projects in the crypto industry, the core team behind the popular PlusToken crypto scam has finally been arrested by the Chinese police, a Thursday report revealed.27 PlusToken Key Members ArrestedAlthough earlier reports suggest that some of the PlusToken officials were caught months ago, today’s report notes that the 27 individuals arrested were the core members of the fraudulent scheme, bringing the saga to an end.Chinese law enforcement has...

Often referred to as the ‘Chinese Ethereum,’ NEO has teamed up with the state-backed BSN to drive mainstream adoption. NEO will become one of the technological pillars of the BSN, which includes tech and payment giants such as China UnionPay and China Mobile, in addition to the Chinese State Information Center, the official announcement stated.It’s official! United by our shared commitment towards greater #blockchain adoption and innovation #Neo and @bsnbase will work hand in hand to provide...

The CBDC race is about to heat up again with nations across Asia leading the way in crypto research. Japan is the latest to accelerate progress, joining China and Thailand, which are already well underway with their respective digital currencies.Japan Forms Crypto Research TeamThe Bank of Japan (BoJ) stated on Monday that it has started with the formation of a ‘Digital Currency Group, ’ which will operate under the umbrella of the Payment and Settlement Systems Department. The primary goal of...

Bloomberg reports that the People’s Bank of China (PBC) intends to begin testing its central bank digital currency (CBDC) on several platforms operated by the food delivery giant backed by Tencent Holdings – Meituan Dianping.China’s CBDC On A Food Delivery PlatformCiting people familiar with the matter, Bloomberg informs that the large Chinese web-based shopping platform for locally found foods, consumer products, and retail services – Meituan Dianping – has been in contact with the PBC for a...

Bitcoin Mining Rechenpower: Kasachstan schliesst zu China, Russland und USA auf. Im Jahr 2018 waren die weltweiten Nachrichten von der Kryptowährung Bitcoin geprägt. Rasante Kursanstiege sorgten für Aufsehen und immer mehr Anleger interessierten sich für die Kryptowährung. Anders als bei herkömmlichen Währungen, bei denen offizielle Notenbanken Geld mit speziellen Maschinen...