Tag: China
PBOC Revamps Digital Yuan to Function as Interest-Bearing Deposits
Reading time: < 1 minuteChina’s central bank announced that its digital yuan will soon function as an interest-bearing deposit.
China Doubles Down on Crypto Ban, Flags Stablecoins as Criminal Risk
Reading time: < 1 minuteChina has issued a fresh warning against cryptocurrency, promising a renewed crackdown.
China’s Bitcoin Mining Resurrection: From Zero to 14% Market Share Since 2021 Crackdown
Reading time: < 1 minuteBitcoin mining activity is quietly rebounding across China despite the government’s comprehensive 2021 ban, driven by miners leveraging inexpensive electricity and a data center construction wave in provinces with surplus energy capacity.
Small Group of Claimants Scores Big, Forces FTX to Reverse Course on Payout Limits
Reading time: < 1 minuteA small but vocal group of creditors has successfully pushed back against the FTX estate.
Stablecoin Plans Frozen: Ant Group and JD.com Yield to Beijing’s Directive
Reading time: < 1 minuteChinese tech giants have abruptly paused their stablecoin initiatives in Hong Kong.
China Explores Yuan-Backed Digital Assets to Boost Currency Internationalization
Reading time: < 1 minuteIn a significant strategic pivot, Chinese financial authorities are reportedly considering the authorization of stablecoins pegged to the Chinese yuan.
China Warns Crypto-Powered Iris Scans Could Be Used for Espionage
Reading time: < 1 minuteChina has escalated its warnings against cryptocurrency-linked biometric data collection, suggesting it could be exploited for foreign intelligence operations.
China Tests the Waters with Yuan-Backed Stablecoin via Conflux Blockchain
Reading time: < 1 minuteChina is quietly advancing its digital currency ambitions through blockchain technology, with state-backed Conflux Network leading the charge.
China to Expand Digital Yuan Worldwide
Reading time: < 1 minuteChina is ramping up efforts to promote its central bank digital currency (CBDC) worldwide, with PBoC Governor Pan Gongsheng announcing a new Shanghai-based international operations center for the digital yuan.
Chinese Local Governments Selling Seized Crypto
Reading time: < 1 minuteChina is currently considering how to manage the billions of dollars in cryptocurrencies confiscated from illicit activities.
