chinese

Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season

Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also...
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Shenzhen Stock Exchange Launches Index of Top 50 Blockchain Public Companies

The Shenzhen Stock Exchange has launched a blockchain index comprising 50 of the largest publicly listed companies with blockchain ventures by market capitalization. Blockchain-related stocks in China have been gaining value since President Xi Jinping openly advocated for the technology. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto...
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Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers

In the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud. Also Read: Chinese Regulators Question 8 Crypto Companies in Shenzhen Police Seize...
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Chinese Regulators Question 8 Crypto Companies in Shenzhen

Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Also read: Crypto...
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China’s Inflation Hits a Record 4.5% as Beijing Prepares to Test Digital Yuan

China has been confronted with multiple economic and financial problems this year amidst an ongoing trade war with the United States. Authorities in Beijing have been trying to overcome the challenges with administrative measures in what has become a market economy over the years. And it’s backfiring. Inflation of the yuan just rose to its...
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China Releases Year-End Crypto Rankings

China’s Center for Information and Industry Development has published its year-end crypto project rankings. Thirty-five projects were evaluated and ranked overall as well as in three separate categories. Bitcoin has risen in ranking while EOS remains China’s favorite. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain Year-End Crypto Rankings The Center...
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Another Chinese Lender Bailed Out After Bank Run

Yichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that its top management was in trouble...
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China Ranks 35 Crypto Projects as President Xi Pushes Blockchain

China has been on a roll with a series of crypto-related announcements. President Xi Jinping’s speech to accelerate the development of blockchain technology in China was followed by the passing of a cryptography bill. Meanwhile, China’s Center for Information and Industry Development has continued to evaluate and rank crypto projects, and the central bank is...
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Is China’s New Fascination With Blockchain Really Good for Bitcoin?

Blockchain development has kind of become an element of the party line in the world’s largest officially communist state. The General Secretary of the Communist Party of China, Xi Jinping, recently told a Politburo meeting that the People’s Republic has to gain an edge in the emerging field. Some say Xi’s statement brought back the...
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Survey: Chinese Students Want Crypto Jobs, 8% Own Cryptocurrencies

A poll conducted among university students in China indicates that many of them see a bright future for cryptocurrencies in their country. A quarter of the respondents said they would seek employment in the industry that deals with digital assets and related technologies. Approximately one in 12 students already owns digital coins. Also read: Ukraine...
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Bitcoin used for purchase of illegal drugs as Chinese law enforcement tightens clampdown

According to local media news reports, police officers in the customs department of China’s northeastern province, Jilin, have recently stopped a cross-border deal involving drugs paid for by using Bitcoin. According to the customs officers, buying drugs with cryptocurrencies has become a new trend and poses many difficulties to Chinese law enforcement agencies. On 16...
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