Mining 14/07/21 21:52 by Brenda Ngari

Anhui Becomes The Sixth Chinese Province To Clamp Down On Bitcoin Mining

To say 2021 has been a rough year for Chinese crypto miners would be a big understatement. The country’s increased crackdown on crypto mining has essentially paralyzed an industry that accounts for...
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Bitcoin 09/07/21 21:32 by Newton Gitonga

Why China’s Renewed Bitcoin Crackdown Isn’t Telling On Many Significant Levels

Even as Bitcoin attempts to gain a footing in the now downsized market owing to massive dumping witnessed in May following China’s ban on crypto-related activities, the PBOC seems not to be backing...
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Bitcoin 06/07/21 18:44 by Bernice Nyambura

Hellbent On Destroying Bitcoin: China Shuts Down More Companies Enabling ‘Crypto Trading Activities’

Two financial watchdogs in Beijing, the Beijing Local Financial Supervision and Administration Bureau and the Business Management Department of China’s Central Bank (PBoC) are shutting down firms t...
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Bitcoin 23/06/21 11:54 by Lou Kavan Flavius

Why China’s Move Against Bitcoin Is Turning Out To Be The Best Thing Ever For The Crypto Market

Bitcoin’s price suffered another tumble this week following the latest developments in China on the cryptocurrency front. The Chinese government had warned of its intention to crack down on mining ...
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Other 18/06/21 17:06 by Bernice Nyambura

China’s State-Owned ICBC Bank To Offer Digital Yuan’s Cash Withdrawals In Beijing

Chinese citizens can now convert the Digital Yuan into Cash through the Industrial and Commercial Bank of China (ICBC), which has become the first bank in China to allow such transactions. The sta...
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Mining 18/06/21 15:55 by Brenda Ngari

Chinese Authorities Order Shutdown Of 26 Bitcoin Mining Farms In Sichuan

Authorities in China have ordered the closure of crypto mining farms in Ya’an, a prefecture city in Sichuan that has emerged as a key crypto mining center. The order comes on the heels of Beijing�...
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Bitcoin 19/05/21 14:35 by Lou Kavan Flavius

Bitcoin Headed For A Catastrophic Price Drop As China Reiterates Negative Stance On Crypto

On Tuesday, a report from Reuters made claims of China passing a ban on financial institutions and payment companies, prohibiting any cryptocurrency transactions and warning investors over speculativ...
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Other 25/03/21 21:07 by Bernice Nyambura

Central Banks Should Develop Globally Interoperable CBDCs – China Proposes

Central Bank Digital Currencies (CBDCs) should have a set of rules applicable globally to deal with highly sensitive issues like information sharing and monitoring. This is according to a new proposa...
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Crypto 24/10/20 17:23 by Bernice Nyambura

There Won’t Be Any Stablecoin For The Digital Yuan If PBoC Implements Revised Banking Law

China’s Central Bank, the People’s Bank of China (PBoC) is looking to revise the current banking law to legalize the Digital Yuan and prohibit the development of any tokens pegged to the digital ...
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Other 13/10/20 20:30 by Bernice Nyambura

China Awards Shenzhen Residents with 200 RMB in its DCEP to Spend and Test Out Locally

China is forging ahead with the latest testing of its digital currency electronic payment (DCEP) that is awarding lottery winners tickets in Shenzhen with 200RMB (30 USD) in DCEP to test out and spen...
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Crypto 23/09/20 19:46 by Brenda Ngari

The People’s Bank Of China Just Delivered A Death Blow To Local Crypto OTC Dealers

Cryptocurrency over-the-counter (OTC) merchants in China have an existential challenge ahead. The central bank of China, the People’s Bank of China, is blacklisting the accounts of OTC traders in t...
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Mining 13/09/20 14:09 by Bernice Nyambura

How Grayscale is leading the Crypto Mining Dominance Shift from China to North America

China is home to the biggest crypto mining industry in the world, despite many other countries implementing strategies to attract more mining firms. The US and Canada have tried since 2018 to chal...
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Mining 29/08/20 15:41 by Bernice Nyambura

Bitcoin Bound to React to Raised Electricity Costs in Inner Mongolia’s Crypto Mining Farms

Former Head of Inner Mongolia Electric Power Company was allegedly investigated by Chinese Authorities, following a recent disclosure that Inner Mongolia had suspended subsidized electricity costs fo...
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Other 15/08/20 00:23 by Bernice Nyambura

China to Start Testing its Digital Yuan in Beijing and Other Major Cities

China’s digital currency program is set to expand to its capital Beijing and other major cities including Tianjin, Hebei, Guangdong, Yangtze River Delta as well as Hong Kong- Macau Greater Bay Area...
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Other 08/07/20 22:16 by Brenda Ngari

Ride-Hailing Startup With Over 550M Users To Conduct First Real-World Test Of China’s Digital Yuan

China’s inbound central bank digital currency will see its very first real-world test on DiDi, the ride-hailing behemoth that deemed as the Chinese version of Uber. DiDi will trial digital yuan as ...
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Bitcoin 07/07/20 02:00 by Tony Spilotro

US Senator: Digital Dollar Must Beat Bitcoin, Digital Yuan

During a hearing on the potential introduction of a digital dollar, Senator Tom Cotton claimed whatever the United States comes up with, it has to “be better than Bitcoin.” He also asserts it must...
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Bitcoin 06/07/20 18:00 by Cole Petersen

Here’s Why the Chinese Stock Market’s Rally Might Boost Bitcoin

The Chinese stock market has found itself caught within the throes of a fresh bull market, and it could create a tailwind that lifts Bitcoin. After facing the dire implications of the ongoing pandemic...
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Altcoins 30/06/20 04:00 by Cole Petersen

China’s Blockchain Service Network Reportedly Integrating Ethereum

China’s state-sponsored Blockchain Service Network (BSN) is reportedly moving to start integrating with public blockchains like Ethereum and Nervos Network. News of these potential integrations come...
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Altcoins 27/05/20 09:26 by Brenda Ngari

Ripple CEO Calls On US Regulators To Embrace Digital Currencies As Nation Falls Behind China On Crypto Innovation

Ripple CEO Brad Garlinghouse has once again called on the United States regulators to step up and “lean into digital currencies” as the nation is falling behind China in terms of crypto innovatio...
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Other 23/04/20 16:55 by Brenda Ngari

Starbucks, Subway And McDonald’s Set To Test China’s Central Bank Digital Currency

Starbucks, Subway, and McDonald’s are among the 19 retail businesses that will be trialing China’s digital yuan in one of the country’s pilot program cities. Per reports, China has already star...
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Bitcoin 10/12/19 08:51 by Brenda Ngari

Usurping Bitcoin: China Partners With Telecom Giants Like Huawei To Test-Launch Digital Currency In Two Major Cities

China has been actively developing a national digital currency since 2014. In August this year, the People’s Bank of China (PBoC) announced that it was developing a digital Yuan. Now, it seems the ...
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Mining 04/12/19 11:00 by Martin Young

Digital Gold Rush: Bitcoin Mining Boom Coming to American West

Sentiment in the crypto industry is generally bearish at the moment as bitcoin takes another turn south and threatens to drop into the $6k region again. BTC mining outfits are unperturbed, however, an...
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Crypto 27/11/19 08:00 by Martin Young

Will China’s Crypto Yuan be Used for Retail Payments or Mass Surveillance?

China’s blockchain drive has been about one thing: getting its people used to a state-backed crypto asset. The People’s Republic is determined to get its crypto yuan out as soon as possible and ba...
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Crypto 19/11/19 10:00 by Martin Young

Could China’s War on Cash Herald a New Global Crypto Revolution?

There are no mixed signals with regards to blockchain and crypto coming from China at the moment. The People’s Republic is full steam ahead on distributed ledger technology as it prepares to ready i...
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Crypto 18/11/19 15:09 by Christine Vasileva

Chinese Gov’t Reaffirms ‘Blockchain Not Crypto’ Stance

China’s CCTV1, a state-backed social media, ran another story on crypto assets, featuring a 60-minutes exposition with President Xi. But this time, the message was not as enthusiastic as in the past...
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