China | ForkLog

ForkLog 10 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 13 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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ForkLog 20 27.08.2021

Chinese hosting firm ordered to return Genesis Mining equipment worth $200 million

The Supreme People’s Court of China ordered hosting provider Chuangshiji Technology Limited to return to Genesis Mining 485,681 GPUs, a dispute dating back to 2018.

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ForkLog 6 27.08.2021

China’s central bank warns investors that Bitcoin has no real value

Bitcoin and other cryptocurrencies are not legal tender in the People’s Republic of China and do not have real value, said Yin Yupin, deputy head of the department safeguarding the rights and interests of consumers of financial services at the People’s Bank of China.

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ForkLog 15 27.08.2021

Digital yuan vs Alipay and WeChat: peaceful coexistence or a fight for survival

In a few months, during the Winter Olympics in China, the digital yuan – e-CNY – could be launched. In this context, experts and market participants ask a natural question: how will this affect the current leaders in mobile payments in China—Alipay and WeChat? In the People’s Bank of China’s drive to offer a currency that requires no intermediaries, a direct threat to these firms appears.

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ForkLog 8 23.08.2021

China tests digital yuan in settlements for commodity futures trades

Participants on the commodity exchange in Dalian (DCE) have for the first time used the digital yuan to pay the commission for delivering goods under a futures contract, according to the China Securities Journal.

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ForkLog 8 23.08.2021

Chinese court rules that cryptocurrency is not protected by law

Investing in or trading cryptocurrencies is not protected by Chinese law, the High Court of Shandong Province said in public comments on its ruling. The South China Morning Post reports.

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ForkLog 8 23.08.2021

Media report on mining ban in China’s Yunnan province

Authorities of Yingjiang County, Yunnan Province (China), have demanded hydroelectric stations stop illegally supplying power to mining farms, according to journalist Colin Wu.

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ForkLog 6 20.08.2021

Chinese commercial banks open access to the digital yuan for customers

Thirty-five Chinese banks have integrated digital wallets supporting e-CNY into their apps.

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ForkLog 17 19.08.2021

Chainalysis: US and China have lost leadership in cryptocurrency adoption

The 2020 Global Crypto Adoption Index rose by 880%, driven largely by residents of developing countries seeking to safeguard savings from currency devaluations.

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ForkLog 7 17.08.2021

PBOC continues pressure on crypto-related firms

The Shenzhen branch of the PBOC has begun auditing the activities of firms suspected of illicit operations with digital assets. The regulator 'took swift action to restore order and make adjustments' to the operations of 11 companies.

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ForkLog 14 12.08.2021

Chinese authorities say regulatory pressure on tech firms will continue

China will continue to apply regulatory pressure on technology companies and organisations active in the digital economy. The Central Committee of the Communist Party of China and the State Council of the PRC presented a five-year plan aimed at tightening control in the areas of national security and technological innovation.

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