China | ForkLog

ForkLog 34 03.07.2024

Chinese Mining Pools Dominate Despite Ban, Says CryptoQuant CEO

Despite China’s ban on cryptocurrency mining, Chinese mining pools account for 54% of the market share, according to CryptoQuant CEO Ki Young Ju. Despite China’s ban on #Bitcoin mining, Chinese mining pools still hold nearly 54% market share. While not all participants in these pools are Chinese, some mining farms might still be operating covertly […]

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ForkLog 27 03.07.2024

China Outpaces the US Sixfold in AI Patent Filings, Says UN

China is leading the world in the number of patents related to generative artificial intelligence, according to a report by the United Nations cited by Reuters. The World Intellectual Property Organization (WIPO) reports that over the past decade, more than 50,000 patent applications related to generative AI have been filed, with a quarter of them […]

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ForkLog 23 26.06.2024

Russia Plans Platform for Digital Ruble Transactions

Russia, in collaboration with the central banks of BRICS nations, is working on launching the BRICS Bridge platform for transactions in national currencies, including digital ones. This was reported by Izvestia, citing Deputy Finance Minister Ivan Chebeskov. The new system will enable direct transactions between countries and reduce the impact of Western sanctions on international […]

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ForkLog 16 19.06.2024

China Develops AI Commander for Military Simulations

An AI commander is being tested at the laboratory of the College of Joint Operations at the National Defense University in Shijiazhuang, Hebei province, according to SCMP. The tests are conducted in computer-based military games involving all branches of the People’s Liberation Army of China. The virtual commander is granted full authority, learns quickly, and […]

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ForkLog 28 18.06.2024

Chinese Bank Executives Accused of Laundering $250 Million via Cryptocurrency

The private Chinese institution, Bank of Huludao, has uncovered a scheme involving the theft and laundering of 1.8 billion CNY (~$250 million) belonging to investors, implicating two of its senior executives. This was reported by The National Business Daily, citing court documents. According to the case materials, in August 2020, the bank’s former party secretary, […]

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ForkLog 31 17.06.2024

Money Laundering Scheme via e-CNY Uncovered in China

The Yuecheng District Prosecutor’s Office in Shaoxing City, Zhejiang Province, has investigated a case involving the use of digital yuan (e-CNY) accounts for cashing out and laundering money, according to local media reports. A group of four individuals located merchants accepting the central bank digital currency (CBDC) and arranged to exchange a certain amount of […]

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ForkLog 14 10.06.2024

HSBC China Grants Corporate Clients Access to Digital Yuan

HSBC’s China division, in collaboration with the Bank of China, has enabled corporate clients to conduct transactions using the e-CNY. This initiative aims to foster the development of the digital economy. The organisation is among the first foreign institutions to offer e-CNY services to both individuals and businesses, according to the press release. HSBC China’s […]

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ForkLog 11 06.06.2024

Chinese Student Challenges Prison Sentence Over Token Liquidity Withdrawal

In China, a legal battle continues involving a 24-year-old student accused of issuing a token on the BNB Chain blockchain and allegedly withdrawing liquidity from investors amounting to at least 50,000 USDT. This was reported by local media. According to court documents, in May 2022, the defendant, Yang Qichao, launched a token for the DAO […]

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ForkLog 26 06.06.2024

Bybit Opens Registration for Chinese Users, Reports Colin Wu

The cryptocurrency exchange Bybit appears to have begun offering services in mainland China, a jurisdiction previously excluded by the platform. Exclusive: The third largest offshore exchange Bybit suddenly opened up registration and authentication for users in China. Bybit has long strictly prohibited the registration and use of all Chinese users. The management team has been […]

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ForkLog 17 28.05.2024

Russian Metallurgical Giants Embrace USDT for International Transactions

At least two of Russia’s largest metal producers, not subject to sanctions, have begun using the stablecoin USDT and other cryptocurrencies for international transactions. This was reported by Bloomberg, citing company executives. According to them, the deals are primarily conducted with Chinese clients and suppliers. In some cases, transactions are routed through Hong Kong. The […]

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ForkLog 17 17.05.2024

China Expands e-CNY Programme to Hong Kong

The Hong Kong Monetary Authority and the People’s Bank of China have announced the expansion of the digital yuan (e-CNY) usage in the autonomous region. According to the regulators’ statement, Hong Kong residents can now top up their wallets through 17 retail banks in the jurisdiction and conduct financial transactions with the asset in pilot […]

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ForkLog 20 15.05.2024

Chinese Authorities Dismantle Underground Bank Handling $1.9 Billion in USDT

The Municipal Public Security Bureau of Chengdu, Sichuan Province, with the assistance of colleagues, has halted the operations of an underground cryptocurrency bank that provided financial services to smugglers and those seeking to transfer assets abroad. This was reported by local media. To evade national currency oversight, the suspects utilized USDT in their operations, conducting […]

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