The Chinese People’s Political Consultative Conference(CPPCC), the advisory body of the Republic of China, recently emphasized the need for the adoption of the blockchain technology in various sectors in the country. China is one of the countries to be recognized as one of the fast countries to adopt blockchain technology and implement it in various...Read More
New information suggests that local government authorities in the Chinese province Sichuan are seeking to ban cryptocurrency mining operations in the region. Contrary, sources familiar with the matter claim that these notices are misunderstood, and crypto mining will not suffer major negative consequences. A Region In China Clamps Down On Crypto Mining? The story began...Read More
Bitcoin kissed the $10K mark goodbye this week as the cryptocurrency dropped to as low as $8,800 on Thursday, reaching the trend-line that was forming since the massive drop in March. As expected, BTC received strong support in that area, and its price quickly recovered to around $9,200, where it’s currently trading. The dump started...Read More
Recent Chinese reports indicate that a new cryptocurrency scam, resembling the notorious PlusToken, has been brought to trial this week. Dubbed WOTOKEN, allegedly scammed over 700,000 users and absorbed more than $1 billion worth of Bitcoin and other digital assets. The New Chinese Threat: WOTOKEN According to local reports, the trial began on May 14th...Read More
The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang...Read More
Bitcoin’s halving is right around the corner. It will slash the block reward miners get from minting new bitcoins in half and potentially reduce the supply of the cryptocurrency on the market. Historically, this has been a major bullish catalyst for Bitcoin as its price has so far increased substantially after the two previous halvings....Read More
Many blockchain firms and projects try to gain relevance during the coronavirus crisis. One blockchain firm in China can no longer sell medical supplies by order of the government. Companies are scrambling to play their part during the coronavirus pandemic. Blockchain Firm in China Gets Blacklisted That is often much easier said than done, however....Read More
China’s anticipated central bank digital currency (CBDC) may be closer to its launch, as per a screenshot circulating the internet. While testing should be entirely confidential, the leaked photo is hinting the test version of a mobile app developed by a large state-owned bank. An App For China’s CBDC Information from a few weeks ago...Read More
China has always been in the spotlight when it comes to cryptocurrencies, despite the country’s controversial legislation on the matter. Last year, President Xi Jinping urged for further investments in blockchain-based technology, causing Bitcoin to mark an increase upwards of 40% in less than 24 hours. Now, however, regulations seem to be tightening up, and...Read More
An alliance consisting of Chinese government groups, banks, and technology companies will launch the Blockchain-based Service Network (BSN) in April. The innovative platform will be among the first maintained by a central government. It will allow participants to operate on top of it, without having to design a new network from scratch. Blockchain-Based Service Network...Read More
In the past seven days, bitcoin managed to add another 10% to its dollar-value as the price spiked from about $6,000 to its current point at $6,600. Yet, most of the time, it traded within a narrow range between $6,400 and $6,700. The overall volume has also declined, and, as such, the volatility decreased. If...Read More
China is one of the first countries to seemingly recover from the coronavirus crisis. In fact, it would appear that the national blockchain network launch will still go ahead as planned, which is rather surprising. China has made its blockchain ambitions very clear in recent months. China’s Blockchain Project is Still Alive The country will...Read More
A group of angry victims of insolvent Chinese cryptocurrency exchange, FCoin, has reportedly gone after the family members of CEO Zhang Jian to get refunds for their missing funds, according to local reports. FCoin Users Not Impressed Some of the affected users had formed several Rights activist groups since the CEO first announced that they...Read More
Bitcoin’s hash rate just hit another new all-time high of 136 EH/s, an indication that miners are not backing out despite the recent selling pressure which led to a slump in the price of BTC last week. Miners Are Bullish On Bitcoin Data on Blockchain.com suggests that Bitcoin’s hash rate has been increasing steadily since...Read More
Bitcoin lost a serious chunk of its Dollar value this week. Down about 12% over the past seven days, the cryptocurrency is currently trading at around $8,700. It’s essential to see where it goes from here. From above, there’s the 200-days moving average at $8,800, which has now turned to resistance. Bitcoin hasn’t closed a...Read More
A 2013 video depicting a EU minister’s tirade against the global banking system has gone viral and it’s more relevant now than ever. The post ‘The Banks Are Broke’: This Viral Video From 2013 Is More Relevant Than Ever appeared first on CCN.com The post appeared first on CCNRead More
Bitcoin’s rally has occurred almost in lockstep with the spread of coronavirus. Still, analysts are cautious to attribute the gains to the outbreak. | Source: Shuttersock. | Source: Shuttersock Is there a correlation between bitcoins price action and the coronavirus spread? Virus-infected yuan placed in quarantine—Bitcoin fixes this. Bitcoin mining takes a dive following China’s...Read More
The spread of the coronavirus continues, and more countries appear to take serious measures for its containment. Amid the tragic effect on people’s health, the cryptocurrency space recently saw the birth of the CoronaCoin – a coronavirus-backed token. The Creation of CoronaCoin Earlier today, the discussion of the new coronavirus-backed coin was published in a...Read More
If you are not living under the rock, then you might have come across the fatal virus that has taken the entire world under its grip. The news about this new virus–Coronavirus has spread wide afar and many countries have reported causalities. Coronavirus, also renamed as COVID-19 (World Health Organisation), is the most novel virus...Read More
The coronavirus which started from Wuhan, China, earlier in January, shows no signs of slowing down. With over 910 people dead already, countries across the world are taking measures. The UK has officially declared it an “imminent” threat. Asian and European stocks continue to feel the pressure as they struggle into the weekly opening. At...Read More
Japan is seemingly following the footsteps of China to ensure that they are not left out in the race for government-backed cryptocurrencies. The country’s lawmakers will reportedly release drafted proposals tomorrow (Friday) for the creation of their own central bank digital currency (CBDC). Countering China’s Digital Yaun Japan initially became interested in issuing a digital...Read More
The Coronavirus outbreak continues to take its toll on the traditional financial markets, especially in China. The Chinese stock markets had returned after a more extended Lunar New Year’s vacation. As expected, the indexes record significant drops, despite a huge $174 billion injection by the local Government. On the other hand, Bitcoin spiked to over...Read More
The last week of trading has undoubtedly been a successful one for Bitcoin and the entire cryptocurrency market. BTC’s price gained more than $1,100, charting an increase upwards of 13% in the past seven days alone. Despite the few ups and downs, the price seems to be comfortable above $9,400. Interestingly enough, Bitcoin is trading...Read More
A recent report by Baidu has revealed a lot of details surrounding China’s cryptocurrency. According to the document, the country’s central bank will be the institution monitoring the digital currency. However, as expected, the ledger used for its creation won’t provide any kind of anonymity but rather allow the Government to monitor financial transactions closely....Read More
2020 has so far been an exciting and profitable year for Bitcoin. Since the early days of January, the cryptocurrency has managed to increase its value by almost 40%. This is a spectacular performance for any asset, even more so within traditional markets. BTC/USD January. Source: TradingView In the past 24 hours alone, Bitcoin is...Read More
Bitcoin’s price surged 6% in 48 hours from the $8250 handle to above $8770. The price movements come as the coronavirus continues to spread in China. The Wuhan virus epidemic continues to plague throughout the country and abroad. Medical authorities confirmed a fifth case of the SARS-like virus in the United States. Much broader markets...Read More
Central banks have been contemplating the idea of creating their own cryptocurrencies for a while now. China has been one of the first countries to express its intentions in this regard. The country’s CCIEE chair even stated that they will be the first to launch its central bank digital currency (CBDC). A former deputy governor...Read More
The cryptocurrency market, being a relatively young and small one, is frequently affected by external forces. Sometimes, one of those factors could sound a bit strange on the surface, but it could deliver a severe impact. It’s the Chinese New Year. The Holiday is taking place during the next weekend, between January 25th (Saturday) and...Read More
China has reportedly published a second printing of its textbook guide on blockchain and cryptocurrencies. It educates readers about their future usage and potential impact on the world. While teaching about the former is more easily accepted, the latter might come as a surprise since crypto trading has been banned for years in the country....Read More
Unlike cryptocurrency regulations in the USA, China region has a less crypto-friendly attitude towards cryptocurrency. In this article, I’ll explain how China views its crypto regulations. In countries like the United States, cryptocurrency profits count as taxable income. The country recognizes cryptocurrency as a commodity or property. A lot of countries including China want to...Read More
