China | ForkLog

ForkLog 7 13.05.2024

Chinese Authorities Uncover $295 Million Cryptocurrency Laundering Scheme

Chinese police have uncovered an underground banking scheme that utilised digital assets for the illicit exchange of yuan and South Korean won amounting to $295.8 million. Local media reported the arrest of six suspects in Jilin province in the northeast of the country. Authorities seized numerous bank cards and other “criminal tools” from the suspects. […]

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ForkLog 14 13.05.2024

Challenges in Adoption of China’s Digital Yuan

Some participants in China’s pilot e-CNY programme are hesitant to hold the asset due to various issues. Details were presented in SCMP. Journalists noted that most officials receiving salaries in CBDC rarely use it and convert it to cash. “I prefer not to keep money in the e-CNY app due to the lack of interest […]

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ForkLog 12 06.05.2024

Mainland China May Soon Access Bitcoin ETFs in Hong Kong

Bitcoin ETFs registered in Hong Kong may soon become accessible to investors from mainland China, according to Richard Byworth, managing partner at SyzCapital. I just got back from Hong Kong. There is talk that the ETF could be added to stock connect. The implications for this are absolutely enormous (basically means mainland money can buy […]

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ForkLog 9 01.05.2024

Chinese Authorities Detain Suspected StarkNet Airdrop Thief

Chinese authorities have arrested a man named Lan Mou, suspected of forging personal data to steal StarkNet airdrops, according to local media. He was detained on April 25 in Guangdong province, in possession of a computer and two phones. With the acquired personal information, Mou allegedly impersonated others and submitted over 40 fraudulent requests to […]

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ForkLog 11 26.04.2024

Chinese ‘Crypto Pope’ Faces Government Investigation

Yao Qian, the former first director of CBDC development at the People’s Bank of China, is under government investigation, according to local media. The Central Committee of the Communist Party of China suspects the official of “serious violations” of discipline and law, though specific reasons for the investigation remain undisclosed. Yao currently serves as the […]

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ForkLog 21 09.04.2024

China’s UBTech Partners with Baidu to Develop AI-Enhanced Humanoid Robot

UBTech has partnered with Baidu to develop the industrial android Walker. A trend is emerging towards humanoid machines equipped with AI models. Robots can assist in solving everyday tasks. Chinese company UBTech has partnered with Baidu to integrate speech and reasoning capabilities into the industrial humanoid Walker S. An Android with a Chatbot Brain The […]

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ForkLog 12 09.04.2024

STFIL Protocol Developers Detained in China, Project Reports

Chinese authorities are investigating the Filecoin-based STFIL protocol, with some of its technical team members currently in custody, according to project representatives. We believe that the STFIL core technical team is under investigation by local Chinese police, and we understand lawyers have been hired to understand the current situation and provide legal assistance to the […]

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ForkLog 23 15.03.2024

China Integrates AI into High-Speed Rail Network

Chinese scientists have integrated artificial intelligence into the high-speed rail network. This was reported by the South China Morning Post. Based in Beijing, the AI system actively processes extensive real-time data from the country’s 45,000 km high-speed rail network. This system can promptly alert maintenance crews to any irregularities within 40 minutes, boasting an accuracy […]

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ForkLog 15 04.03.2024

Chinese Investors Warned Against Bitcoin Investments

The Chinese state newspaper Jingji Ribao cautioned local residents about the risks of investing in the leading cryptocurrency. The article was published amid an ongoing rally in the crypto market. The publication mentioned the approval of Bitcoin ETFs in the United States and reiterated that trading digital assets remains prohibited in China. The article includes […]

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ForkLog 23 14.02.2024

Allegations of SEC’s Covert Ties with Ethereum and China Emerge

The U.S. Securities and Exchange Commission (SEC), under the leadership of Gary Gensler, is allegedly secretly supporting Ethereum and is heavily influenced by the Chinese Communist Party, according to Web3 lawyer Steven Nerayoff. With growing speculation around an Ethereum ETF, it’s evident that the SEC, led by Gary Gensler, is more involved in ETH than […]

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ForkLog 10 31.01.2024

Chinese Woman in UK Accused of Laundering $6 Billion in Bitcoin

A Chinese woman residing in London has been accused of laundering $6.3 billion in bitcoin, allegedly obtained by her acquaintance through investment fraud. This was reported by Law360. According to British prosecutors, 42-year-old Jian Wen converted cryptocurrency into cash, real estate, jewelry, and other luxury items. The transactions were conducted for Zhimin Qian, who allegedly […]

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ForkLog 41 25.01.2024

Bitcoin Emerges as a Safe Haven for Chinese Investors Amid Economic Turmoil

Reuters confirms the existence of a thriving underground crypto market in China. Investor interest in digital assets is growing amid economic challenges. Hong Kong has become a gateway for Chinese investors to access cryptocurrencies. Amid the challenges facing China’s economy, local investors are seeking opportunities to purchase cryptocurrency as traditional value preservation tools falter, according […]

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