News
Chinese regulators are reportedly preparing to restrict mainland state-owned enterprises and banks from pursuing stablecoin and crypto initiatives in Hong Kong.
4686
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.
- News
Jack Ma’s Ant Digital is tokenizing billions of dollars’ worth of Chinese energy assets on AntChain, with plans to list the tokens on offshore exchanges.
5366 - News
The launch follows Nasdaq’s call for tighter scrutiny of corporate crypto holdings, which HashKey framed as a test for the industry.
6828 - News
Hong Kong-listed Yunfeng Financial purchased $44 million of ETH to support its expansion into Web3, real-world assets and tokenized finance.
4930 - Market Analysis
Bitcoin’s sell-off accelerates as macroeconomic challenges prompt stock and crypto traders to cut risk.
15164 - News
Chinese money launderers have been moving billions through US financial institutions to aid Mexican drug cartels, yet lawmakers still point the finger at crypto.
5572 - News
The company has posted $46.7 billion in revenue for the quarter, despite restrictive export controls from the US-China trade war.
4870 - Opinion
China’s control over crypto liquidity and its buying power gives Beijing unprecedented leverage over the Trump family’s digital fortune.
3938 - Newsletter
Tariffs slam US Bitcoin miners with nine-figure bills, Polkadot courts Wall Street, SharpLink loads up on ETH and Beijing hints at a yuan-backed stablecoin pivot.
7375 - News
Beijing’s consideration of a yuan-backed stablecoin could mark a new front in the global financial system, but experts say dollar dominance, liquidity and trust are high hurdles.
4949 - Analysis
China’s split renminbi system suggests a rumored yuan stablecoin won’t mark a crypto shift.
2888 - News
Family offices across Asia are boosting digital asset exposure, driving new crypto funds, exchange activity, and shifting adoption beyond retail-led growth.
9944 - News
China’s cabinet will review a roadmap that includes yuan-pegged stablecoins to bolster yuan internationalization, sources told Reuters.
14147 - Market Analysis
Bitcoin derivatives, spot ETFs, top trader positions and stablecoin demand suggest BTC’s correction is near completion.
8794 - News
A China Merchants Bank subsidiary launched a Hong Kong-based crypto exchange for professional investors after securing a virtual asset service provider license.
11153