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Tag Archives: China

China Considers Creating a Digital Yuan-Based Exchange

Dec 1, 2021

The Chinese government is already looking into the possibilities of creating a digital assets exchange that will support the digital yuan. The exchange is planned to be located in Beijing and will be one of the State Council’s efforts to support financial services within the capital. This ex...

Chinese Citizens Use Cryptocurrency to Move Funds to Japan

Nov 25, 2021

While the Chinese government continues to battle against cryptocurrencies, discoveries are being made of how citizens of the country use the technology to achieve their personal goals. One of such uses is in capital flight, which has seen Chinese investors use cryptocurrencies to send money abro...

Chinese Government Seize BTC ETH USDT in Crypto Crackdown

Nov 23, 2021

The government of China has continued with the enforcement of the ban on cryptocurrencies. The enforcement has been diligent, leaving no stones unturned. Any venture that is crypto-related discovered by the government to operate within the borders of China immediately faces the wrath of the law...

First CBDC-Related Money Laundering Case Reported in China

Nov 9, 2021

The first case of money laundering involving the use of digital yuan has been reported in China. According to Chinese authorities, in several scam cases, the group involved in the crime used the digital yuan to steal funds from their victims which were further transferred out of the country. ...

The Main Reason Behind China’s Crypto Ban

Oct 26, 2021

China banned the use of Bitcoin and other cryptocurrencies within its financial system and geographical space. Not only did it ban the use of cryptocurrencies, but it also moved to put a stop to all activities related to the new technology, including cryptocurrency mining and trading. While t...

Huobi Leaves China Without Any Intention to Return

Oct 7, 2021

China’s largest cryptocurrency exchange, Huobi, has finally given up on finding ways of retaining operations in the country. This decision was made known by the company’s co-founder, Du Jun who clarified that after several attempts, Huobi has given up on negotiations with regulators on the s...

Coingecko and Coinmarketcap Blocked in China’s Cyberspace

Sep 28, 2021

The two leading cryptocurrency aggregator and market data websites, Coingecko and Coinmarketcap have been made inaccessible for users in mainland China. This is a result of the ongoing crackdown on cryptocurrency activities in the country.  According to reports, tests carried out using Gr...

Evergrande Crypto Crisis in China Hurts Crypto Market

Sep 23, 2021

Bitcoin price fell below $40K for the first time since August along with other cryptocurrencies. This drop appears to be contagion from the falling equity market, amidst fears that Chinese real estate giant Evergrande could slide into bankruptcy.  Evergrande, at the time of writing, remai...

China Intensifies Hunt For Hidden Cryptocurrency Miners

Sep 21, 2021

Although the Chinese authorities claim to have rounded up their clampdown on cryptocurrency activities, the search for cryptocurrency miners continues. According to reports, this search is targeted at fishing out the individuals and corporations that may be carrying out crypto mining activities u...