Cryptocurrency Ban In China

Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said.

Chaina aims to equip cross-border transactions related to its Belt and Road Initiative (BRI) with blockchain capabilities. To do so, the Chinese government has launched the ‘Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative’ in a fresh development.

Binance users reportedly traded $90 billion (roughly Rs. 7,42,800 crore) of cryptocurrency-related assets in a single month in China, where cryptocurrency trading has been illegal since 2021.

The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.

China’s Changshu city has reportedly decided to compensate all civil servants within its jurisdiction in the form of the e-CNY CBDC. The decision has reportedly been finalised by the financial authorities that govern the city of over a million people.

Huang Yiping, the former advisor to the People’s Bank of China (PBOC), has voiced concerns that China is losing next-gen fintech opportunities, that other parts of the world are already experimenting with. In Yiping’s opinion, opportunities in exploring the ‘very valuable’ blockchain technology.

The Nigerian government has now banned weekly ATM withdrawals over $225 (roughly Rs. 18,565), aiming to promote the use of its CBDC among its citizens. The eNaira was launched on October 25. The CBDC garnered over 840,000 downloads in over 270,000 active wallets within the first few weeks of its launch.

China’s CBDC was designed to focus on user privacy and ensuring financial security. Safeguarding user privacy and zeroing-in on ensuring financial security for the people were the two key features that were given most importance, Yi Gang, the governor of the People’s Bank of China (PBOC) revealed to the media. China launched a special app of e-...

Hong Kong is "back in business" and exploring whether to legalise crypto trading by retail investors, the city’s finance chief announced Monday, kicking off a week of conferences aimed at resuscitating the Chinese hub's image.

Huobi Co-Founder Leon Li has sold his stake in the crypto exchange to a buyout firm managed by About Capital Management, and will be stepping away from the company's business. The exchange retreated from China in recent years and was once the most active Bitcoin trading platforms on the globe. Huobi has since accelerated its expansion into overseas...

India has secured the fourth rank on the 2022 Global Crypto Adoption Index compiled by blockchain research firm Chainalysis. With this, India has surpassed Russia and the US on the index, hinting that the Indian crypto community is not very far behind in driving more adoption of the technology.

China has re-emerged as a major bitcoin mining hub, despite the country’s complete ban on the practice a year ago, according to data from the Cambridge Centre for Alternative Finance (CCAF).

The Shanghai High People’s Court has classified the world’s largest cryptocurrency, Bitcoin, as a virtual property protected by Chinese law in conclusion to a pending case which involved the settlement of a loan acquired in BTC.

Shanghai residents are reporetdly turning to the blockchain to preserve memories of the city's month-long COVID-19 lockdown, minting videos, photos and artworks capturing their ordeal as non-fungible tokens (NFTs) to ensure they can be shared and avoid deletion.

Chinese social media giants are withholding the operations of NFT platforms in the country. The development is the result of China’s continuous clampdown on crypto-related activities, without having specified if NFT activities are permitted or not. NFT players like Xihu No.1, Dongyiyuandian, and WhaleTalk are reportedly facing consequences.

Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said.

Chaina aims to equip cross-border transactions related to its Belt and Road Initiative (BRI) with blockchain capabilities. To do so, the Chinese government has launched the ‘Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative’ in a fresh development.

Binance users reportedly traded $90 billion (roughly Rs. 7,42,800 crore) of cryptocurrency-related assets in a single month in China, where cryptocurrency trading has been illegal since 2021.

The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.

China’s Changshu city has reportedly decided to compensate all civil servants within its jurisdiction in the form of the e-CNY CBDC. The decision has reportedly been finalised by the financial authorities that govern the city of over a million people.

Huang Yiping, the former advisor to the People’s Bank of China (PBOC), has voiced concerns that China is losing next-gen fintech opportunities, that other parts of the world are already experimenting with. In Yiping’s opinion, opportunities in exploring the ‘very valuable’ blockchain technology.

The Nigerian government has now banned weekly ATM withdrawals over $225 (roughly Rs. 18,565), aiming to promote the use of its CBDC among its citizens. The eNaira was launched on October 25. The CBDC garnered over 840,000 downloads in over 270,000 active wallets within the first few weeks of its launch.

China’s CBDC was designed to focus on user privacy and ensuring financial security. Safeguarding user privacy and zeroing-in on ensuring financial security for the people were the two key features that were given most importance, Yi Gang, the governor of the People’s Bank of China (PBOC) revealed to the media. China launched a special app of e-...

Hong Kong is "back in business" and exploring whether to legalise crypto trading by retail investors, the city’s finance chief announced Monday, kicking off a week of conferences aimed at resuscitating the Chinese hub's image.

Huobi Co-Founder Leon Li has sold his stake in the crypto exchange to a buyout firm managed by About Capital Management, and will be stepping away from the company's business. The exchange retreated from China in recent years and was once the most active Bitcoin trading platforms on the globe. Huobi has since accelerated its expansion into overseas...

India has secured the fourth rank on the 2022 Global Crypto Adoption Index compiled by blockchain research firm Chainalysis. With this, India has surpassed Russia and the US on the index, hinting that the Indian crypto community is not very far behind in driving more adoption of the technology.

China has re-emerged as a major bitcoin mining hub, despite the country’s complete ban on the practice a year ago, according to data from the Cambridge Centre for Alternative Finance (CCAF).

The Shanghai High People’s Court has classified the world’s largest cryptocurrency, Bitcoin, as a virtual property protected by Chinese law in conclusion to a pending case which involved the settlement of a loan acquired in BTC.

Shanghai residents are reporetdly turning to the blockchain to preserve memories of the city's month-long COVID-19 lockdown, minting videos, photos and artworks capturing their ordeal as non-fungible tokens (NFTs) to ensure they can be shared and avoid deletion.

Chinese social media giants are withholding the operations of NFT platforms in the country. The development is the result of China’s continuous clampdown on crypto-related activities, without having specified if NFT activities are permitted or not. NFT players like Xihu No.1, Dongyiyuandian, and WhaleTalk are reportedly facing consequences.