China | ForkLog

ForkLog 21 27.09.2021

Singapore-based startup tokenises carbon credits from a Chinese wind-energy project

The Singapore-based startup Cyberdyne Tech Exchange (CTX) has completed the first tranche of tokens backed by carbon credits from a wind-energy project in Zhangjiakou, Hebei Province.

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ForkLog 15 27.09.2021

Robert Kiyosaki Predicted a Stock-Market Crash and Said Bitcoin Could Fall

Robert Kiyosaki, author of the bestseller 'Rich Dad, Poor Dad' and entrepreneur, forecast a 'giant stock market crash in October'. In his words, gold, silver, and Bitcoin will face the same fate.

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ForkLog 7 27.09.2021

Authorities in Inner Mongolia seize more than 10,000 mining devices

Authorities in China's Inner Mongolia have confiscated 10,100 cryptocurrency mining devices. Local media report this. The equipment was found at the site of a state technology park in Bayan-Nur district. As of now, Inner Mongolia has closed 45 mining farms, the statement says. In May, Liu He, vice-premier of the State Council of China, announced forthcoming measures in relation to mining and the trading of Bitcoin. In the same month, the state information agency Xinhua criticised cryptocurrency mining. Thereafter, restrictive measures against the digital-currency mining industry were taken by the authorities of Inner Mongolia, Qinghai, Sichuan, Xinjiang and Yunnan. The bans led to a mass exodus of industry participants from China. However, according to the Cambridge Centre for Alternative Finance (CCAF), the country lost dominance in Bitcoin mining as early as spring. On 24 September, news emerged of further crackdowns by China against the cryptocurrency industry. The National Development and Reform Commission of China pointed to the negative environmental impact of mining and its 'insignificant' contribution to the country's economy. Earlier, Inner Mongolia's Development and Reform Commission hired a contractor to provide a solution for monitoring operations involved in illegal cryptocurrency mining. Subscribe to ForkLog news on VK!

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ForkLog 27 26.09.2021

Binance and Huobi halt new-user registrations in mainland China

Bitcoin exchanges Binance and Huobi halted new-user registrations in mainland China after a fresh wave of government crackdowns on cryptocurrencies.

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ForkLog 8 25.09.2021

Senator Pat Toomey: China’s crackdown on crypto is a big opportunity for the United States

Senator Pat Toomey of the Republican Party said that the crackdown on digital assets by Chinese authorities opens new opportunities for the US in the crypto industry.

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ForkLog 13 24.09.2021

SparkPool stops servicing users in China

The largest Ethereum mining pool SparkPool has announced that it will discontinue servicing users in China. The announcement is on the site.

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ForkLog 14 24.09.2021

Circle chief urges not to imitate China on crypto regulation

The United States and other Western countries have two ways to respond to China’s actions regarding cryptocurrencies and blockchain: to imitate Beijing or to oppose it, in line with the values of the 'open internet'. This was stated by Circle CEO Jeremy Allaire, urging the second option.

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ForkLog 15 24.09.2021

Bitcoin slips below $42,000 as China tightens crypto-trading regulation

In the last hour, Bitcoin has fallen by more than $2,000, briefly dipping below $42,000. This move came amid reports on September 24 of renewed crackdowns on the Chinese cryptocurrency industry.

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ForkLog 23 24.09.2021

PBoC views cryptocurrencies as a threat to the traditional financial system

The rapid growth of cryptocurrencies and stablecoins threatens the traditional financial system, prompting the People's Bank of China (PBoC) to maintain a negative stance toward the class of digital assets. This was stated by Wen Xinxian, director of the regulator's Payments and Settlements Department.

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ForkLog 9 23.09.2021

Evergrande pays up on September 22, but authorities warn of a potential ‘storm’

The on-balance-sheet debt of Evergrande Group, which is on the brink of collapse and is estimated at about 2% of China’s GDP, paid interest on bonds to local investors. Beijing has urged local authorities to prepare for a potential 'storm', according to the Wall Street Journal.

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ForkLog 8 21.09.2021

Possible default by a Chinese developer rattled markets, weighing on Bitcoin

The risk of default by one of China's largest construction companies, Evergrande, which has accumulated debt of 2 trillion yuan ($309 billion), on September 20 provoked panic in financial markets. Bitcoin fell by 9%.

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ForkLog 8 16.09.2021

Inner Mongolia authorities have hired a contractor to tackle illegal mining.

The Inner Mongolia Development and Reform Commission (DRC) hired a contractor to provide the regulator with a solution to monitor illegal cryptocurrency mining operations.

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