Beijing Qudao Cultural Development Co Ltd, a software development company based in China has been ordered by the country’s central bank to suspend operations. The reason for this suspension is reported to be as a result of the company's involvement in cryptocurrency activities, despite the ...
Recent Bitcoin predicaments have been compounded by the series of bans being carried out in China. Significant among these bans is the abolishment of mining activities within the country. The order to shut down Bitcoin mines has had a direct effect on the Bitcoin and cryptocurrency market, le...
It is more trouble for Bitcoin miners in China as yet another province orders a shutdown of all mining activities. This time around, it is the Province of Qinghai that joins the likes of Xinjiang and Inner Mongolia to issue a shutdown order to miners within the region. In the past coupl...
In the face of the clampdown on cryptocurrency mining and other crypto-related activities in China, affected companies are moving out of the region. As a result of this, BIT Mining Limited, one of the leading mining companies in China that are listed on the New York Stock Exchange (NY...
The police in China have apprehended a thief who hacked into the email of a Bitcoin owner and stole his funds through multiple transactions. The incident which happened in the Jiangxi province of eastern China is the latest among a couple of cryptocurrency thefts that have taken place recently...
China is gradually losing its grip as the dominant hashrate custodian for Bitcoin as new miners have started setting up rigs in other parts of the world. Some of the originally resident miners in China are also relocating. Right from the early days, most of the network effect that sustai...
China’s digital yuan project has ticked yet another box as e-commerce giant JD.com recently implemented it as a payment vehicle to pay salaries of some of its employees. The platform also revealed that it used the digital yvan to make payment for some other businesses. This will go down a...
For the better part of the last year, China has been putting most of its efforts into developing and testing its upcoming digital yuan. After banning the use of cryptocurrencies as a means of payment years back, the country has spent very little time discussing cryptocurrencies aside from an occa...
All is set for the next step in China’s move towards the creation of a Central Bank Digital Currency (CBDC). This time around, a test of the developing product will be carried out in the country’s province of Hainan. The exercise is expected to kick- off on April 12, 2021, and run un...
Based on a Bitcoin blockchain carbon emission model (BBCE), a new study has put a timeline to when the profit of Bitcoin miners - majority of which are predominant in China - would likely drop to zero. The authors of the paper which has been published in the broad open-access journal, ...
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