China | ForkLog

ForkLog 23 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 21 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 37 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 13 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 14 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 9 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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ForkLog 10 14.09.2021

Hebei authorities launch crackdown on illegal cryptocurrency mining

The Hebei provincial administration in China has adopted a package of special measures to combat illegal cryptocurrency mining, according to local media.

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ForkLog 22 11.09.2021

State media in China warn of NFT sector bubble

Publications controlled by the ruling Communist Party of China, Securities Times and People’s Daily warned citizens against buying non-fungible tokens (NFTs) due to a potential bubble in the sector.

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ForkLog 19 01.09.2021

BSN names first overseas portal operator

The company behind China's state Blockchain Service Network (BSN), Red Date Technology, announced the first portal operator outside the country. It was the South Korean startup MetaverseSociety.

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ForkLog 11 01.09.2021

State-owned Chinese banks test the digital yuan for purchases of financial products

State-owned Chinese banks Bank of Communications and China Construction Bank, in cooperation with asset managers and insurers, will test the possibility of using the digital yuan when purchasing financial products.

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ForkLog 18 30.08.2021

China sets out rules for tech firms’ use of recommendation algorithms

The Cyberspace Administration of China (CAC) unveiled a 30-point draft of rules on the use of algorithms by tech companies, Bloomberg reports.

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ForkLog 16 30.08.2021

China plans global mobile-payments network based on digital yuan

China plans to create an international clearing and settlement network for mobile payments using the digital yuan. CoinDesk reports, citing Renmin Ribao.

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