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Category Archives: Regulation

The worst case speculation after PBOC inspection

Jan 20, 2017

Red Li

PBOC inspection team released an official briefing on 18th Jan  , which hammered down the price to around 5,700 yuan, or around 7%. The briefing is concise but also contains rich implications. We may speculate the best and the worst outcome of this event by reading between the lines. The b...

EGD scam cracked down in China 10.9 billion yuan involved

Jan 10, 2017

Red Li

People’s Daily, the most circulated newspaper in China, published a story on cracking down a virtual currency pyramid scheme under the name of EGD, which involved over 500 thousand members and 10.9 billion RMB. Another EGD clone named “Wanfubi”  was also cracked down with 120,000 r...