SOL price struggles to rally above $200, but on-chain and derivatives metrics point to a healthy market.
China Crypto News
China, a global economic powerhouse with the world’s largest population, drives significant global trade marked by rapid industrialization and economic growth. China once served as a center for crypto trading and had a vibrant ecosystem of exchanges. However, in 2017, the Chinese government outlawed domestic cryptocurrency exchanges and initial coin offerings (ICOs) because of concerns about financial stability.
China intensified its regulations in 2021 by focusing on crypto mining — once a massive industry in the nation — citing concerns about speculative risk, financial stability and energy usage. Despite its hardline stance on cryptocurrencies, China is actively pursuing blockchain technology adoption across various sectors, including finance, supply chain and urban planning.
Blockchain parks and incubators have been established in various provinces and towns to aid new businesses and established firms specializing in blockchain technology. With its Digital Currency Electronic Payment system — a state-backed digital currency managed by the People’s Bank of China — China is at the forefront of central bank digital currency development. China wants to internationalize its currency and lessen reliance on the United States dollar in international trade and finance, and its CBDC, the digital yuan, is a component of that effort.
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The Securities and Futures Commission of Hong Kong issued a warning against HKCEXP, which it claims lured investors by falsely claiming to be an “SFC-registered business.”
2496The funding rate for Bitcoin perpetual futures has been reset after $370 million in contracts was liquidated. Is that a good sign?
19544The memorandum of understanding includes the establishment of a Tencent Cloud training center for skill development and education at RAK DAO.
2283The app differs from the official version in subtle ways and steals users’ money and sensitive information.
20741Zhang Xiaojin, the director of the Fourth Procuratorate of the SPP, also reportedly warned citizens and digital asset participants about investment scams in the local crypto economy.
4732Bitcoin price continues to soften, but $251 million in inflows to the spot Bitcoin ETFs is a show of the markets’ strength.
15179On Feb. 20, Huobi HK became the 18th crypto exchange to apply for a virtual asset trading platform license with the Hong Kong Securities and Futures Commission.
2174The SFC has granted multiple licenses since the city opened doors to retail crypto trading last August.
2492Bitcoin price rallies above $50,300 in the absence of retail trader FOMO and the use of high leverage. Cointelegraph explains why this is important.
17660A variety of bullish factors back Ethereum’s recent rally to $2,500.
14984Hester Peirce believes that if the SEC is “confident in its investigative work” and analysis, it doesn’t need to “demand silence on the part of settling defendants.”
2259Bitcoin price circles $43,000 as Chinese stocks are halted for volatility in a wild start to the macro week.
8093According to a Kyros Ventures report, 33.3% of Chinese investors hold a large number of stablecoins, ranking them second only to Vietnam’s 58.6%, indicating a higher level of risk appetite.
7241The cryptocurrency exchange submitted its license application on Jan 31.
2020