China Crypto Roundup (Oct. 4-Oct. 10) ：More Virtual Currency Companies Adjust Business to Meet Regulation
1. More than 20 virtual currency companies will stop providing related services to Chinese users
According to Chinese media Securities Daily, As of October 7, more than 20 virtual currency companies have announced that they will stop providing related services to users in China and have completely withdrawn from the Chinese market.
2. Jay Chou entered into NFT market
Famous Chinese singer Jay Chou and musician Vincent Fang will release Punkcat with each of them a NFT certificate.
3. Wang Yishi, founder of cryptocurrency wallet company OneKey: no longer holds any position in OneKey, and may participate as an open source contributor in the future
As previously reported, OneKey announced on September 30 that it will terminate some of the functional services for Mainland China users, including DEX, staking, etc., but retain the basic service functions of wallet.
4. The four-year-old Chinese cryptocurrecy exchange BitZ announced its shutdown
BitZ stopped new user registration and KYC in Mainland China on September 26, 2021, and will officially cease operations on October 21, 2021. Prior to this, user assets will be returned in an orderly manner and the platform currency DKKT will be repurchased.
5. McDonald’s China released its first NFT creative work “Big Mac Cube”
McDonald’s China released its first NFT creative work “Big Mac Cube” to celebrate its 31st anniversary of entering the Chinese mainland market. McDonald’s China will present 188 NFT creative works to employees and consumers.
6. China’s Development and Reform Commission publicly solicited opinions on the “Negative List of Market Access (2021 Edition)”, and included virtual currency “mining” activities in the elimination category as “Outdated production technology and equipment”.
7. Ebang has a net loss of $4.26 million in the first half of the year, and plans to develop financial technology business and self-mining business
In the first half of this year, Ebang has a total computing power of 800,000 Thash/s, which is an increase of 220% from the 250,000 Thash/s in the same period in 2020.
In the first half of this year, Ebang has a total computing power of 800,000 Thash/s, which is an increase of 220% from the 250,000 Thash/s in the same period in 2020. Its mining business includes the company’s original mining machine custody business and the newly derived self-mining business. Up to now, the company has begun to prepare for the construction of mining pools in the United States and Europe.
8. Bitmain : Antminer will stop shipping to mainland China
Bitmain issued an announcement stating that Antminer will stop shipping to mainland China (excluding Hong Kong and Taiwan) from October 11. For customers in mainland China who have purchased long-term products, the staff will contact them to provide alternative solutions.