Cryptonews Tags China

# China

Together with Japan and South Korea, China forms the trio of countries dominating the Asian segment of the cryptocurrency market. Due to its rocky relationship with cryptos, China is often the source of confusing news reports about the status of this technology in the country. For starters, cryptocurrencies are not banned in China and some of the more prominent ones on the global scene actually hail from this country, such as NEO. What is really banned in China is the use of digital currencies, which still does not preclude Chinese citizens from holding cryptos as assets. The same goes for Initial Coin Offerings (ICO) which have been prohibited in China since 2017. In 2019, China made the news by its announcements about incoming ban on Bitcoin mining citing the waste of energy and environmental impact of such an activity.

All #China

Blockchain News

China’s Tech-Savvy Youth Drives Global Demand for Blockchain Apps, Despite Restrictions

China’s massive, young, and tech-savvy population still drives global demand for blockchain applications despite strict regulatory restrictions.

, by Sead Fadilpašić

Blockchain News

China to Adopt Blockchain Technology for National Data Infrastructure by 2029

China announces a national data infrastructure initiative, leveraging blockchain technology to enhance transparency and trustworthiness in data management. The plan includes 5G-A upgrades, future 6G research, and aims to attract over $54.5 billion in annual investments, reinforcing its global digital economy role.

Blockchain News

Guangzhou Expands Digital Yuan Pilot with New Action Plan for 2025

Guangzhou's action plan for the digital yuan highlights adoption in daily transactions, transportation, and trade. Key initiatives include pilot zones in Yuexiu, integration into metro payments, and cross-border trade facilitation.

, by Hongji Feng

China Tightens Crypto Oversight with New Foreign Exchange Rules: Report

China has introduced stricter regulations to curb cryptocurrency-related activities, requiring banks to monitor and flag risky trades.

, by Ruholamin Haqshanas

China’s Central Bank Highlights Hong Kong’s Crypto Licensing in 2024 Report

The People's Bank of China (PBOC) has released its "China Financial Stability Report (2024)," shedding light on the country's financial stability measures and economic progress over the past year. A significant portion of the report is dedicated to global crypto regulations, with a notable...

, by Hassan Shittu

Bitcoin Surge Drives Cost of Mining Machines in China, More Buyers From Russia

The cost of Bitcoin mining machines has surged sharply in Shenzhen, China, following the recent spike in the Bitcoin price. According to a recent report by a Beijing-based newspaper Wen Wei Po, the price of Ant mining machines developed and produced by Bitmain, has increased 30% from the...

, by Sujha Sundararajan

Sui Blockchain and Ant Digital Partner to Tokenize ESG Assets

Sui has announced a partnership with Ant Digital to tokenize RWAs with a focus on environmental, social, and governance (ESG) assets.

, by Ruholamin Haqshanas

Chinese Investors Offered Indirect Bitcoin Access Through Alipay Campaigns

Huabao Overseas Technology C, a tech company offering indirect exposure to Bitcoin, has launched an advertisement promoting Bitcoin ETFs.

, by Ruholamin Haqshanas

China Likely to Build Bitcoin Reserve After U.S. Sets Precedent, Says Binance’s CZ

Crypto markets are on edge with anticipation for the US Bitcoin Reserve, promised in Trump's Crypto Policy, but is the China Bitcoin Reserve possible? Industry legend and former Binance CEO Changpeng Zhao (CZ) seems to think so, after recent comments he made at the Bitcoin MENA Conference...

, by Sam Cooling

Bybit Allows Mainland Chinese Users via VPN but Bars Yuan Trading

Bybit allows mainland Chinese users to trade via VPN while prohibiting yuan transactions, balancing user demand with regulatory compliance.

China’s Digital Yuan Still Encounters Challenges in Adoption: Report

China's digital yuan, the country's central bank digital currency (CBDC), is facing significant hurdles in gaining widespread adoption.

China’s Supreme Procuratorate Outlines Crypto Focus in New AML Law

China’s Supreme People’s Procuratorate has emphasized strict enforcement of the revised Anti-Money Laundering Law, focusing on virtual currencies and financial crimes to safeguard national security. The directive was highlighted during a study session led by Procurator-General Ying Yong,...

, by Hongji Feng

Chinese Court Rules Crypto Cannot Be Used for Wage Payments

A Chinese court has ruled that cryptocurrency cannot be used as a form of wage payment, reaffirming its legal status as distinct from fiat currency and outside the protections of labor laws. According to a recent report by Shenzhen Special Zone Daily, the Shenzhen Qianhai Cooperation Zone...

, by Hongji Feng

China’s Ex-CBDC Chief Yao Qian Accused of Cryptocurrency Bribery, Faces Prosecution: Report

Yao Qian, the former head of the Science and Technology Supervision Department of the China Securities Regulatory Commission (CSRC) and a key figure in China’s digital currency development, is now at the center of a cryptocurrency bribery scandal. He was expelled from the Communist Party and...

, by Hassan Shittu

Shanghai Court Recognizes Virtual Currency as Property, Tightens Trading Crackdown

The Songjiang District People's Court in Shanghai ruled on November 19 on a service contract dispute centered on the legality of virtual currency issuance. The case involved a contract between an agricultural development company and an investment management firm for token issuance and...

, by Hassan Shittu

China’s Nano Labs Accepts Bitcoin Payments

Hangzhou-based integrated circuit design company Nano Labs announced on November 11 that it will now accept Bitcoin as payment for its products through a business account on Coinbase. Nano Labs Now Accepts Bitcoin: Is This the Beginning Of China’s Crypto Recognization? According to the press...

, by Hassan Shittu

Chinese Man Sentenced to Life for Selling State Secrets for Crypto

A Chinese public official was sentenced to life imprisonment on November 8 for selling state secrets to foreign entities to cover his crypto investment losses. The official, identified as Wang Moumou, was sentenced for providing confidential state information to foreign agents in exchange for...

, by Hassan Shittu

Huawei Integrates Digital Yuan in HarmonyOS NEXT, Reaching Up to 1 Billion Users

Huawei is incorporating China's digital yuan, a central bank digital currency (CBDC), into its HarmonyOS NEXT operating system.

, by Ruholamin Haqshanas

Mental Outlaw Challenges China’s Alleged Encryption Breakthrough, Cites Quantum Challenges

Researchers at Shanghai University recently claimed to have cracked RSA encryption algorithms used in banking, military, and crypto.

, by Ruholamin Haqshanas

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