Tags : Chinese

Market

Death knell for Chinese crypto miners? Rigs on the move

When it comes to China, few things are crystal clear, and the nation’s recent crackdown on crypto mining is no exception. The State Council’s Financial Stability and Development Committee reported on May 21 that it is curtailing Bitcoin (BTC) mining amid financial risk concerns, which prompted the South China Morning Post to proclaim that “China’s […]Read More

Regulation

Chinese province sounds fresh alarm on ‘illegal’ crypto schemes

China’s Hainan province issued a fresh warning about illegal crypto schemes yesterday, adding to what is an ongoing campaign against the growth of the industry in the region. Fresh round of crypto FUD Financial regulators, as per Reuters, in China’s southern Hainan region cautioned investors against illegal fundraising schemes involving cryptocurrency and blockchain. They used […]Read More

Bitcoin

Billionaire Ray Dalio says Chinese ‘digital’ yuan could compete with

Bridgewater Associates founder and CEO Ray Dalio says Bitcoin can see traction in the years to come, but that the digital version of Yuan, China’s national fiat currency, could ‘compete’ with it. “I think you are going to see the renminbi become a more significant, a strong currency, stable currency, more attractive-returning currency, and also […]Read More

Bitcoin

Bitcoin miners are shutting down Chinese operations after Vice Premier’s

Chinese Bitcoin miners are scrambling to shift or shut operations after the latest round of ‘crypto FUD’ initiated by the government, a report on news outlet Reuters said today. Ending operations Crypto exchange Huobi suspended all mining operations this morning (alongside ceasing trading services for Chinese users), BTC.TOP, a crypto mining pool, announced the suspension […]Read More

Regulation

Europe and U.S. may soon take the lead in Bitcoin

Jiang Zhuoer, the operator of major Chinese mining pool Lebit Mining, argued that the latest crackdown on crypto in the country would likely lead to miners relocating their activity to Europe and the U.S., as pointed out by journalist Colin Wu. “The worst case may be that large-scale mines are closed, and China’s Bitcoin mining […]Read More

Cryptocurrency

Chinese crypto-linked stocks like Meitu see big corrections after Ethereum

Stocks of Chinese publicly listed companies fell sharply today after cryptocurrencies like Bitcoin, Ethereum, and others plunged massively on Wednesday, data from multiple sources shows. Yesterday saw over $8 billion in liquidations (or collateral that is seized by exchanges after asset prices hit a predetermined price level) and over 350,000 trading accounts getting liquidated as […]Read More

Regulation

Chinese regulator says Bitcoin is an ‘alternative investment’

Li Bo, a deputy governor of People’s Bank of China (PBoC), the country’s central bank, said over the weekend that Bitcoin and stablecoins are ‘alternative investments’ in the eyes of the law. Breaking: Li Bo, deputy governor of the Central Bank of China, said that crypto assets such as Bitcoin should be used as investment […]Read More

Bitcoin

Chinese firm Meitu buys $50M worth of Ethereum and Bitcoin,

News › Bitcoin · Ethereum › China › Investments According to the board, they are seeing a large adoption across China and countries from Southeast Asia. Companies considered “conservative” are now exploring cryptocurrencies and blockchain technology. José Oramas · March 17, 2021 at 10:58 pm UTC · 2 min read Chinese firm Meitu recently announced […]Read More