Huangzhou-based crypto mining chip maker Nano Labs saw its share price rise slightly after announcing it will start accepting Bitcoin as payment.
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According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024.
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Hashkey Capital partner of liquids funds and research, Jupiter Zheng, says the crypto sector in Hong Kong is now primed for significant growth over the next four to five years.
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An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
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The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments. […]
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Chinese authorities have announced that more than 170 criminal gangs have been eliminated and over 1,100 suspects arrested in the latest round of crackdown on criminal groups providing cryptocurrency money laundering services for telecom fraudsters. Crackdown on Telecom Fraud Using Cryptocurrency for Money Laundering The Ministry of Public Security of the People’s Republic of China […]
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The Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020. Owners Are Earning Around $6,200 Monthly According to […]
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China’s central bank, the People’s Bank of China (PBOC), has drafted a law to legalize the digital yuan and outlaw digital currencies issued by anyone else competing with it. Meanwhile, the central bank has been cracking down on gambling sites that use the stablecoin tether. China Drafts Law to Recognize Digital Yuan The People’s Bank […]
The post China Drafts Law to Legalize Digital Yuan, Outlawing Competitors appeared first on Bitcoin News.
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China’s central bank digital currency has been used in 3.13 million transactions worth about 1.1 billion yuan ($162 million) so far, the People’s Bank of China’s deputy governor has reportedly revealed. In addition, more than 122,000 digital wallets have been created. ‘Positive Progress’ of Digital Yuan Pilot The People’s Bank of China (PBOC) has been […]
The post China’s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far appeared first on Bitcoin News.
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China’s Ministry of Commerce has announced the pilot run of the country’s central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau. It will also be tested during the 2022 Winter Olympics games in Beijing, the ministry said. China Announces Testing of Central Bank-Backed Digital Currency in Major Cities China’s Ministry of […]
The post China Testing Digital Currency in Major Cities, Including Beijing and Hong Kong appeared first on Bitcoin News.
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