China: Former Central Bank Exec to Reportedly Head New Tech Regulation Division

China’s securities regulator is reportedly setting up a tech division that will be headed by the former chief of the central bank’s digital currency initiative.

Yao Qian, a former director of the Digital Currency Research Institute at the People’s Bank of China (PBoC), will serve as director at the China Securities Regulatory Commission’s (CSRC) first technology supervision department,

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China’s President Xi ‘Credentialized’ Cryptocurrency, Says Novogratz

China’s President Xi Jinping gave credibility to blockchain and crypto by calling the country to accelerate blockchain adoption, said Galaxy Digital CEO Mike Novogratz. The cryptocurrency investor delivered his remarks speaking at the Reuters Global Investment Outlook 2020 Summit in New York on Nov. 5.

Xi “just credentialized crypto and blockchain”

Michael Novogratz,

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Peter Schiff: China's Gold-Backed Crypto Would Be Bearish for Bitcoin

China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser. 

Schiff tells Keiser: gold backing beats BTC

“According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin,” he wrote. 

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EOS Holds Top Spot, Bitcoin 11th in China’s Latest Crypto Rankings

China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019.

The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal. 

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China Studying Blockchain and AI for Cross-Border Financing

China is looking into the application of blockchain and Artificial Intelligence (AI) to cross-border financing, Reuters reports on Oct. 27.

Blockchain in risk management

Lu Lei, the deputy head of the Chinese regulator State Administration of Foreign Exchange (SAFE), reportedly said that there are plans to use blockchain and AI in cross border financing,

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China Passes First-Ever ‘Crypto Law’ Going Into Effect January 2020

The Standing Committee of the 13th National People’s Congress in China has passed a new law regulating cryptography on Oct. 26 that will take effect on Jan. 1, 2020, reports local news outlet CCTV. 

Per the report, the new regulatory framework aims to set standards for the application of cryptography and the management of passwords.

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Alipay Denounces Bitcoin OTC Trading: Regulatory ‘Gray Area’ in China

Earlier in October 2019, Binance announced a fiat on-ramp for crypto trading via Chinese payment services Alipay and WeChat. This move was part of the exchange giant’s peer-to-peer (P2P) trading rollout for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese yuan.

The public nature of this announcement did bring questions to the fore regarding the use of payment channels like Alipay and WeChat for crypto trading.

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NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price

A now-viral post by a Chinese cryptocurrency trader has highlighted the stark drop in the price of American sneaker-backed tokens in the wake of the fallout between the NBA and China.

As Reuters reports on Oct. 16, the anonymous trader’s Weibo post from earlier this month had shone a spotlight on an apparent 10% crash in the price of crypto tokens backed by Nike’s Air Jordan sneakers on a United States-based exchange.

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‘Hurun China Rich List 2019’ Features 12 Crypto Magnates

“Hurun China Rich List 2019” published by Hurun Report, a research, media and investments firm, features 12 local cryptocurrency magnates.

The latest list was published on Oct. 10 and includes co-founders of mining giant Bitmain Micree Zhan and Jihan Wu, founder of major crypto exchange Binance Changpeng Zhao and founder of competing OKCoin — Star Xu.

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US-China Trade War Driving Retail Investors to Bitcoin, Says EToro

Financial analysts say a growing number of retail investors are betting on Bitcoin (BTC) as a hedge against macroeconomic turbulence during the protracted United States-China trade war.

The London Economic reported the news on Aug. 29, citing data from eToro, a United Kingdom-based multi-asset investment platform and social network.

Correlated uptick in Bitcoin,

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Bitcoin Price Loses $10.5K Support as US-China Trade War Tensions Cool

Bitcoin (BTC) price was feeling the pressure Aug. 14 after a fresh downturn saw the largest cryptocurrency settle below $10,500. 

Market visualization. Source: Coin360

Trade war tensions relief lifts markets, sinks Bitcoin price 

Data from Coin360 painted a gloomy picture for investors Wednesday, with BTC/USD trailing 7.2% daily losses.

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Bitcoin Safe Haven Sucking in Money From China, Says Blockchain Executive

Bitcoin (BTC) really does function as a safe haven asset in 2019, another source has told mainstream media as the United States-China trade war rages.

Bitcoin increasingly important amid economic uncertainty

Speaking to Forbes in an interview on Aug. 8, Chris Reinertsen, chief marketing officer of blockchain consultancy Rhythm Technologies,

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China: Police Investigating EtherDelta Over Alleged Exit Scam, Report

Chinese police are reportedly taking legal action against non-custodial token trading platform EtherDelta in connection with an apparent exit scam. 

The news was reported on Aug. 7 in a series of tweets published by Dovey Wan, founding partner at blockchain-focused investment firm Primitive Ventures.

New Chinese owners allegedly used EtherDelta for exit scam ICO

Wan’s tweets indicate that the alleged exit scam involved the sale of native exchange asset EtherDelta Token (EDT) following the acquisition of the exchange by unnamed Chinese investors:

“The actual beneficiaries of EtherDelta are all Chinese after ownership transition in 2017 […] Basically [the founder] Zack Coburn sold EtherDelta to a group of Chinese who later issued exchange token $EDT and turned out to be a exit scam.

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Bank of China’s New Infographic Shows Why Bitcoin Price Is Going Up

The Chinese central bank released on its website an infographic illustrating what is Bitcoin (BTC), how it works and why it’s valuable on July 26.

A brief story: from Bitcoin to Libra

The infographic illustrates the story of Bitcoin, starting with the publication of its whitepaper in 2008, the mining of the first 50 BTC in 2009,

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Embattled Tron Creator Sun Apologizes to China in Deleted Social Media Post

Blockchain platform Tron’s founder, Justin Sun, sparked fresh controversy this week after he first posted and then deleted an online apology in an ongoing PR debacle. 

Cryptocurrency-focused news outlet Cryptoslate reported the events, providing their own translation of comments Sun wrote and later removed from Chinese social media platform Weibo on July 25.

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Ex-PBoC Governor: China Must Take Precautions Against Libra Trend

The former governor of the People’s Bank of China (PBoC) says “China should take precautions” against the trend represented by Facebook’s Libra cryptocurrency.

Twitter-based Chinese crypto news source CnLedger reported on Xiaochuan Zhou’s remarks on July 9.

Zhou notably served as PBoC governor between 2013 and 2018, a period which saw Beijing pursue its notorious onslaught of anti-crypto regulations — including the historic blanket criminalization of initial coin offerings (ICOs) and exchange crackdown.

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Walmart China Will Track Food in Supply Chain with Vechain's Thor Blockchain

Walmart China plans to track food through its supply chain with VeChain’s Thor blockchain, reveals a VeChain press release published on June 25.

Per the release, the Walmart China Blockchain Traceability Platform (WCBTP) will be a joint venture by Walmart China, VeChain, PricewaterhouseCoopers (PwC), cattle company Inner Mongolia Kerchin, and the China Chain-Store &

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Wanxiang and PlatON Join Forces for Blockchain Infrastructure of New Smart City in China

Automotive giant China Wanxiang Holding Co., Ltd has partnered with blockchain-based tech firm PlatOn to develop a “smart city” in Hangzhou, according to a report by CryptoNinjas on June 20.

According to the report, the smart city—dubbed “Innova City”—will be built with tech using PlatON’s blockchain infrastructure, for purposes like interfacing with city resident ID cards as well as monitoring driving behavior.

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China’s First Blockchain-Enabled Notary Opens Office in Beijing

China’s first blockchain-enabled notary has opened offices in Beijing, local media People reported on April 19.

Per the report, the service opened last Friday at the Beijing CITIC Notary Office. The head of the office reportedly stated that the development marks the beginning of the blockchain notary service era.

During the launch event,

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Bitcoin Hits $4K for the Fourth Time in 2019, Stocks Jump Amid US–China Trade Talks

Feb. 22 — following some red signals yesterday, crypto markets have continued to rise, with all top 20 coins up today, according to CoinMarketCap.

Market visualization from Coin360

Bitcoin (BTC), the biggest cryptocurrency accounting for around 52 percent of crypto market, has again briefly broke $4,000 point for the fourth time this month,

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Trend of Global Crypto Mining: Despite the US-China Trade War, Activity Surges as Samsung and GMO Enter

Throughout 2018, the cryptocurrency market experienced the fourth worst correction in its nine-year history, as Bitcoin lost more than 69 percent of the value from its all-time high of $19,500.

Despite the substantial decline in the price of Bitcoin (BTC), which heavily affects the earnings of miners, the hash power of the Bitcoin network has continuously increased throughout the past 10 months,

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Skirting the Great Wall: The Chequered Saga of Crypto in China, 2013-2017

Take a quick look at CnLedger, a Twitter-based Chinese crypto news information source, and a tweet pinned at the top of its profile might come as something of a surprise:

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Unconfirmed: TRON to Partner with ‘China’s Google,’ Baidu

The team of cryptocurrency project TRON (TRX) has reportedly partnered with China’s largest Internet search provider Baidu. Crypto market news service Coinness has claimed this in a tweet Thursday, Oct. 11, citing its private correspondence with TRON’s team.

Neither TRON nor Baidu have been able to confirm the partnership to Cointelegraph as of press time.

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China Should Consider Launching its Own Stablecoin, Central Bank Expert Says in Op-Ed

The Chinese government should consider launching its own yuan-backed stablecoin despite the current ban on cryptocurrencies, an op-ed in Chinese financial journal CN Finance reports Tuesday, Oct. 9.

An expert from the People’s Bank of China (PBoC), Li Liangsong, and professor of Fudan University Wang Huaqing wrote an article called “Analysis of Digital Stable Coins” for CN Finance — a bimonthly journal affiliated with the PBoC.

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China: Man Gets 3.5 Years in Jail for Stealing Train Power to Mine Bitcoin, Local Media

A man in China has been been sentenced to three and a half years in jail for stealing power from a train station to fuel his Bitcoin (BTC) mining operations, local media outlet The Paper reports October 8.

According to court documents released today, the sentencing was served September 13 at the Datong Railway Transport Court in China’s northern Shanxi province.

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