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.
Japanese lawmaker Kozo Yamamoto said today that the government should include the digital yen plan in its mid-year policy.
Japanese Official Calls for Urgent Development of Digital Yen to Counter China
Insurance firms in China use blockchain to manage coronavirus-related claims amid the outbreak.
Chinese Insurance Firms Use Blockchain to Process Coronavirus Claims
Chinese startup FUZAMEI has rolled out a philanthropy-focused blockchain platform for tracking and managing data.
Chinese Startup Donates $14K to Fight Coronavirus While Launching a Blockchain Data Platform
A major Hong Kong crypto event, will be taking place half a year later due to the coronavirus outbreak.
Asian Crypto Conferences Are Being Delayed for Coronavirus Reasons
Japan is feeling the pressure of China’s moves forward with a digital yuan, with lawmakers calling for the G7 to put CBDCs on its 2020 agenda.
Japanese Lawmakers Want US to Place Digital Currencies on G7 Agenda
A Chinese tech company is building a blockchain charity platform for fighting against the coronavirus outbreak.
Blockchain Charity Platform to Fight Against the Coronavirus Outbreak
An academic at the University of Hong Kong claims that blockchain and AI-driven strategies should be implemented to better tackle responses to the coronavirus e...
Blockchain Tech Could Help Tackle Coronavirus, Says Expert