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.
Bitcoin-related activities are not prohibited by the Chinese government as the cryptocurrency acts as a virtual commodity.
China Didn’t Ban Bitcoin Entirely, Says Beijing Arbitration Commission
PlusToken, one of the greatest exit scams in history, defrauded investors of nearly $6 billion, according to latest reports.
27 Key Execs at PlusToken Scam Are Reportedly Arrested
Suzhou City, one of major cities that successfully piloted China’s central bank digital currency, signed a MoU with the Cypherium blockchain platform.
Cypherium to Assist China in Advancing Blockchain City Infrastructure
Tech giants face hearing before Congress that will ask whether they violate antitrust and monopoly laws in the U.S.
WATCH LIVE: CEOs of Facebook, Apple, Amazon and Alphabet Square Off With Congress
Somewhat behind schedule, Cambodia’s banks are readying themselves for a forthcoming national blockchain-based currency.
Cambodians Still Waiting on Central Bank Digital Currency
The leaders of two tech giants are using nationalism to win back the governments of their respective home countries after stumbling over crypto launches.
Facebook’s Zuckerberg and Telegram’s Durov Posture as Defenders Against Foreign Tech Invasions
The governments of China and the U.S. frame digital currency as part of their great-power competition, but instead they should work on this technology together.
China and US Must Learn From One Another and Collaborate on CBDC