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 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. Inflation of the yuan just rose to its highest level since […]
There are still many questions associated with China’s digital currency plans. The PBoC has now confirmed how the currency will be tested in a few cities, and will gain the support of telecom giants. The to-be issued central bank currency in China will go through rigorous testing first and foremost. PBoC Announces Digital Currency Test Although very few details are known about it at this time, it seems more information has come to light. PBoC Officials have confirmed this digital currency will be put to the test in Suzhou and Shenzhen. This test will give the central bank a basic 
China remains a very mysterious nation in many different ways. The country is keen on blockchain technology, and the People’s Bank of China is taking things one step further. Earlier this week, the PBoC began issuing financial bonds over the blockchain to small businesses. China’s Blockchain Venture Continues These bonds will serve as SMB loans, adding up to roughly $2.75bn in total. These bonds are not issued on a public blockchain, but rather infrastructure developed by the PBoC itself. It appears this infrastructure will also be used as the primary blockchain-oriented record keeping service across China. This news comes a 
