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.
Chinese experts held a seminar titled "Blockchain technology helps China's new social credit system" on Jan. 14.
Chinese Experts Suggest Using Blockchain Tech in ‘Social Credit’ System
Over the course of 2019, China spent $3.6 billion on blockchain investment deals, which is nearly 41% less than in 2018.
China’s Total Blockchain Investments Dropped 40% in 2019 Compared to 2018
Vietnam-based Binance users can now directly purchase and sell four cryptos using the latest versions of Binance P2P mobile app on iOS and Android.
Binance P2P Crypto Trading Platform Supports Vietnam’s Fiat Currency
China leads the blockchain-based mobile digital payment revolution.
Chinese Blockchain-Based Mobile Payment Revolution: How Is the Biggest CO2 Polluter Becoming Leading World Solar Panels Producer
Let’s take a look at some of the key factors that helped spur the growth of the crypto market in 2019.
Crypto Winter to Spring: Key Factors That Brought Bitcoin Back to Life
Binance looks to expand in the country, a new working group assesses security token offerings, and more headlined news in Japan this past week.
Crypto News From Japan: Jan. 13-17 in Review
Are cryptocurrency mining operations moving from Iran to Central Asia in pursuit of stable cheap energy grids?
Is Central Asia the New Safe Haven for Crypto Mining Amid Iran-US Crisis?