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Tag Archives: crypto

Ten Arrested in Shanghai Over $16M Crypto Pyramid Scheme

Mar 16, 2022

Over ten people have been arrested in Shanghai, China for their involvement in a pyramid scheme operated using cryptocurrencies. The arrest was the end product of an investigation carried out by the Shanghai Public Security Bureau and the Yangpu Public Security Bureau. According to repo...

China Cautions Citizens Over Blockchain-based Play-to-Earn Games

Dec 21, 2021

Chinese citizens have been warned to be wary of blockchain-based play-to-earn games, in what many assume to be a part of the onslaught on anything cryptocurrency within the borders of the country. This warning was communicated via the state-owned television channel, China Central Television (C...

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...

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...