China Crypto Roundup: Canaan Reports $148mln Losses, Chinese Crypto Community on BCH Halving, OTC Transactions via WeChat Drop

Apr 13, 2020

In recent Chinese cryptocurrency news: Chinese bitcoin miner manufacture Canaan disclosed its 2019 financial results with $148.6 million losses; crypto community is somewhat quiet in face with the big event of the week - BCH halving; multinational companies are seeking blockchain opportunitie...

Binance Dips its Toes Back into China by Testing Alipay

Oct 12, 2019

Binance’s Changpeng Zhao publicly confirmed on Twitter that  the exchange accepts fiat through Alipay and WeChat , and stressed it in an official statement. This is obviously too careless for Zhao to announce the issue that triggered Alipay’s ban on all crypto-related transactions. ...

Chinese Gamers Practice Gift Card Arbitrage by Bitcoin OTC Trade

Aug 23, 2019

Chinese gamers take Bitcoin as a cross-border payment to buy steam’s gift card. Steam is a video game digital distribution platform providing automatic updates for users’ games. And gift card is a kind of recharge card for users in steam platform. Chinese gamers prefer to buy gift cards...

Crackdown Escalated? China Warn Against Risks of Offshore ICOs And Virtual-currency Trading

Jan 26, 2018

January 26, 2018-Beijing, National Internet Finance Association of China (NIFA) this Friday issued a warning calling on investors to see clearly the risks of offshore ICO and "virtual currency" exchanges and firmly establish the risk-prevention awareness. The warning is in li...

Bitcoin Middleman: Wanna Trade with Me, Please Cross the Great Firewall

Sep 27, 2017

As cryptocurrency exchanges seem to remain closed in a prolonged period, both token holders and service providers are looking for over-the-counter options. Some innovative cryptocurrency holders trade on Xianyu, a second-hand trading platform of Alibaba. And Internet platforms and ICO pr...

Another Reason for PBoC’s ‘Bitcoin Exchange Ban’ Claim

Sep 12, 2017

The recent suggestion that the Chinese central bank is considering to ban bitcoin exchanges operating in the country may be connected to the sharp bounce the yuan had last week to hit a near 2-year peak on the dollar. Though the veracity of the claim of a ban is yet to be confirmed, its propos...

How regulation help decentralize bitcoin OTC in China

Apr 21, 2017

0.Introduction At the beginning of this year, the government in China was tightening Bitcoin trading rules. All Bitcoin exchanges in China have stopped processing Bitcoin withdrawals. Everyone are very pessimistic. But two months later, Bitcoin wasn't taken down. Instead it gets a...

Chinese bitcoin traders lost track of authentic price

Feb 14, 2017

As the latest response to the regulatory pressure, Haobtc plans to remove “trading” feature and shutdown of CNY deposit on Monday. Bitkan also chose to stay low by suspending verification of new OTC traders. Chinese traders are seeking genuine bitcoin trade price. Haobtc released a st...

OTC Bitcoin transactions spike in China as exchanges make regulatory adjustments

Feb 14, 2017

There seems to be a correlation between the series of regulatory adjustments made by some Bitcoin exchanges in China and the sudden rise in the number of over the counter transactions on the world’s largest OTC trading platform for local traders, LocalBitcoins. Since the Chinese e...