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.
PBoC held a teleconference in Beijing which further emphasized that CBDC development is one of its top priorities for 2020.
People’s Bank of China Continues CBDC Development Talks
Twelve major mining companies in China launch a transparent info sharing platform to revolutionize the mining industry.
Crypto Mining Companies Promote Freedom of Speech in China
A 150-year-old Chinese utility provider will ramp up blockchain adoption in partnership with VeChain and ENN Energy Holdings.
150-Year-Old Chinese Gas Company Ramps Up Blockchain Adoption
A Chinese financial regulator has warned domestic investors that off-shore cryptocurrency exchanges engage in manipulative practices.
Chinese Regulator Accuses Crypto Exchanges of Fraudulent Volumes
More than 35,000 ‘blockchain’ companies are operating in China, but there are doubts that many of them even use blockchain technology.
Huge Rise in Chinese ‘Blockchain’ Companies — But Are They Real?
Tokenization might be the best way for businesses to adjust to the new reality of the global coronavirus pandemic.
How the Pressures of the Coronavirus May Open the Door for Tokenization
Binance Academy has established a blockchain research institute in China to foster DLT innovation.
Binance Academy Launches Blockchain Accelerator in China