China is considered to be one of the most important players in the cryptocurrency market. The decisions of the Chinese government affect the entire industry, but cryptocurrencies and Bitcoin are in a precarious position in terms of regulations. Chinese cryptocurrency laws are pretty strict. Financial institutions are banned from using Bitcoin for trading and ICOs are also illegal to conduct in China. Chinese Bitcoin exchanges were suggested to stop operations within the domestic market, until licenses would be established for them. In January 2018, the People’s Bank of China, its top financial authority, suggested that Bitcoin mining should be gradually suspended on miners through the influence of local authorities. Chinese media presents cryptocurrencies as a tool for criminals and a money-laundering device, creating a negative informational background that may have indications on the future of the Chinese Bitcoin ban.
World’s Largest Pension Fund Lost the Equivalent of Bitcoin’s Entire Market Cap in Just Three Months
The post-Soviet country’s cheap electricity has been attracting Bitcoin miners, but will it manage to elbow out Russia and the United States?
Kazakhstan Sets Eyes on Top-3 Spot for Global Bitcoin Mining
The Chinese police busted a massive crypto scam in Wenzhou that managed to amass over $14.31 million.
Chinese Police Dismantle $14M Crypto Scam
Chinese courts are implementing blockchain storage technology to record court hearings.
Court in China Implementing Blockchain for Court Reform
A major Chinese e-commerce platform and a video sharing site have reportedly joined China’s CBDC project.
China’s CBDC Project to Collaborate With More Domestic Enterprises
An overview of the first two days of the Unitize virtual blockchain conference where top crypto and blockchain experts offered their views on topical issues in ...
CBDCs and COVID-19 Top Agenda in First Two Days of Unitize Conference
Blockchain firm QuarkChain announced a partnership with the ecological department of Northeastern Chinese province Shanxi.
Chinese Province to Use QuarkChain for Construction Resource Management
A major Chinese steelmaker settled a blockchain-based $16.87 million iron ore trade with the world’s second-largest mining group, Rio Tinto and Hancock Prospect...
Chinese Steelmaker Settles $16 Million Iron Ore Deal on Blockchain