AGM Group Announces Strategic Partnership with Meten for Blockchain and Cryptocurrency Mining Business

BEIJING, October 26, 2021 – AGM Group Holdings Inc.

No, ‘Un-banning’ Bitcoin Mining Is Not on Beijing’s Agenda

Bitcoin (BTC)  mining-related developments in China have caused confusion among international observers, but it appears Beijing will not be deterred from its crackdown on tokens and mining.

Beijing Presses Fast-Food Chain McDonald’s to Support Digital Yuan — China’s CBDC Expected to Launch in February

According to a recent report, Beijing is pressing the fast-food retail chain McDonald’s to support the digital yuan before the Winter Olympics in China scheduled for February 2022.

AGM Group Announces Significant Order for 25,000 Digital Currency Mining Machines

BEIJING, China, October 21, 2021,  – AGM Group Holdings Inc.

Chinese e-commerce giant JD.com drops NFT series on its own blockchain

JD.com implements its own blockchain to issue free NFTs to attendees of its annual JD Discovery conference. Chinese online retail giant JD.com is diving into the nonfungible tokens, or NFTs, industry by introducing a special NFT series for its annual JD Discovery conference.Using its proprietary blockchain platform, JD.com will be distributing commemorative NFT certificates to attendees of the JDD 2021 event in Beijing, the Chinese new agency Sina Finance reported Oct.

China braces itself for CBDC rollout, companies to implement e-CNY payment pilots

Winter is coming and so are the Beijing Winter Olympics, in just four months.

Chinese Provinces Still Cracking Down on Bitcoin, Altcoin Miners

Multiple Chinese provinces are claiming to have stepped up their efforts to crack down on illegal crypto mining operations – an indication that they are either eager to impress the central Beijing government or that some miners in the country are still refusing to shut down....Read More: Chinese Provinces Still Cracking Down on Bitcoin, Altcoin Miners

Geographic Distribution Data Shows US Takes Leading Bitcoin Mining Position After China’s Crackdown

After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University.

AGM Group Holdings Inc. Announces First Significant Order of 30,000 Digital Currency Mining Machines

BEIJING, China, October 13, 2021 – AGM Group Holdings Inc.

No Crypto Crackdown in Russia but Keep Coins off Russian Soil, Official Warns

Another major power has claimed it will not follow Beijing in a nationwide crypto crackdown – with Moscow the latest to distance itself from such a move, days after the United States Securities and Exchanges Commission appeared to rule out the notion.

Bitcoin got stronger despite government crackdowns, says Edward Snowden

The famous whistleblower referenced his statement about Bitcoin from March 2020 during the events of “Black Thursday.” Edward Snowden has touted the antifragility of Bitcoin (BTC) despite increasing regulatory scrutiny on cryptocurrencies around the world.Tweeting on Sunday, the former United States Central Intelligence Agency agent stated that Bitcoin has gotten stronger on the back of government bans and anti-crypto policies.Snowden’s tweet referenced remarks made back on March 13, 2020, amid the throes of the Black Thursday decline that saw crypto and equity markets tank amid fears of the coronavirus pandemic.As reported by Cointelegraph at the time, Snowden was unfazed by Bitcoin’s 50% drop, stating that it was the first time he “felt like buying Bitcoin.”“It’s up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency,” Snowden tweeted on Sunday.During the Black Thursday crash of March 2020, Bitcoin slipped to $3,800 but has since gone on to set a new all-time high of about $64,800.Trading above $47,000 as of press time, the BTC spot price has increased more than 10 times since Snowden’s tweet back in March 2020.Indeed, 2021 has been a year of sweeping Bitcoin and crypto crackdowns, especially in China with authorities in Beijing upping the ante on negative cryptocurrency policies.Several Bitcoin miners have exited China, moving their hardware to locations overseas.

DeFi farmers boast about gaming dYdX airdrop as prices surge

DeFi farmers are claiming to have made hundreds of thousands of dollars by gaming dYdX ‘s recent airdrop. As dYdX’s governance token gains amid speculation that Chinese traders could be migrating to the derivatives DEX, savvy DeFi farmers are claiming to be sitting on six-figure stashes after gaming the protocol’s recent airdrop.DYDX has gained 85% in two days as reports claim that China’s crypto traders are converging on the decentralized margin trading protocol as Beijing moves to further crack down on digital assets.DYDX/USD: CoinGeckoThe exchange’s governance token was airdropped to users on Sept.

Rich Dad Poor Dad Author Calls Evergrande a ‘House of Cards’ While China’s Officials Prep for Firm’s Demise

The world is still focused on the financial downfall of China’s real estate giant Evergrande and according to Chinese authorities have told the private sector to get “ready for the possible storm.” Reports show that even though the People’s Bank of China already provided $18.6 billion in liquidity to ease the brunt, Beijing may not […]

China’s new blockchain infrastructure to digitize securities and futures

Chinese regulators held a meeting in Beijing to promote blockchain development, as first mentioned in China's 14th five-year plan. Chinese regulators including the Securities Association of China (SAC) and the China Securities Regulatory Commission (CSRC) held a meeting in Beijing to promote blockchain in the securities industry and discuss regulations.In the symposium organized by China Securities Industry Alliance Chain and Off-site Alliance Chain, the deputy director-general of the Science and Technology Regulatory Bureau of CSRC, Jiang Dongxing, spoke about the consensus of Chinese businesses to digitally transform the securities and futures industry.

The People’s Bank of China Blasts Bitcoin And Crypto. Once Again.

For a minute there, it seemed like the FUD was over.

Beijing Court to Create Property Right Framework for ‘Digital Currencies’

The Beijing Financial Court has outlined its intention to protect the property rights of “digital currency” holders – but only if such “currencies” are “legally” recognized by the Chinese state. Speaking at a press conference held at the court yesterday, Cai Huiyong, who was appointed as the court’s President in March this year, announced that the body

Iran Raises Alarm Over Potential Influx of Miners From China

With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions.

Crypto Companies Huobi and OK Group Dissolve Entities in China

Huobi Group is dissolving its China-based entity, Beijing Huobi Tianxia Network Technology Limited.

Huobi winds down former exchange operator in China

Huobi's move follows a similar decision by crypto exchange OKEx, which resolved to dissolve its China-based entity in late June. Stakeholders in the Chinese firm that was founded to operate cryptocurrency exchange Huobi have resolved to dissolve the entity, according to publicly available records.The firm, Beijing Huobi Tianxia Network Technology Ltd., was established in late 2013 and is 70.52% owned by Li Lin, the founder and CEO of Huobi Group.

Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town

An iconic shopping outlet for Chinese crypto miners has fallen under an eerie shroud of silence as the nation’s mining industry screeches to an abrupt halt. The Beijing-led crackdown on mining has seen many of the nation’s key crypto mining provinces stamp out industrial mining, with further sanctions placed on crypto-related banking. All this has led to a

US Senators Seek to Forbid American Athletes From Receiving and Using Digital Yuan During Beijing Olympics

Three US senators have urged the United States Olympic & Paralympic Committee to forbid American athletes from receiving or using digital yuan during the Beijing Olympics. Rai

China Strikes Back at The US: ‘Stop Making Trouble’ Out of Digital Yuan

Zhao Lijian responded to the US senators, who claimed that the e-yuan could be used as a tracking tool during the 2022 Winter Olympic Games in Beijing.

China Hits out at Senators Who Asked for an Olympic Block on Digital Yuan

Beijing has lashed out at three Republican senators who have asked the United States Olympic & Paralympic Committee to block American athletes from using the digital yuan, the central bank digital currency (CBDC) that China is hoping to dazzle the world with at the 2022 Beijing Winter Olympics, to be held in the capital from February. The group, which comprises Marsha

China wants US senators to ‘stop making trouble’ out of digital yuan

China's Foreign Ministry responded to US senators' claim regarding the digital yuan's function as a tracking and tracing tool during the 2022 Beijing Winter Games. The heat is rising between the United States lawmakers and Chinese officials even before the Olympic flame ignited at the 2022 Beijing Winter Games. During a press briefing on Tuesday, Chinese Foreign Ministry spokesman Zhao Lijian addressed US senators’ warning letter to the US Olympic and Paralympic Committee regarding the use of digital yuan at the Olympic games next year.

GOP Senators Urge US Olympic Committee to Bar Athletes from Using Digital Yuan

Three US Republican senators urged United States Olympic & Paralympic Committee (USOPC) Monday to ban American athletes from acquiring or using the Chinese Communist Party’s digital electronic currency Payment, or digital yuan (e-CNY), during the Beijing Winter Olympics in 2022. (Re

US Senators Warn Over China’s Digital Yuan Use at Beijing Olympics

Republican Senators do not want American athletes using China’s digital yuan at the 2022 Beijing Winter Olympics for fears over data security.

Bitcoin Senator: Ban US Athletes From Using China's Digital Yuan at Beijing Winter Olympics

Senator Cynthia Lummis asked the US Olympic & Paralympic Committee to stop athletes from using the central bank digital currency.

US lawmakers don't want Olympic athletes to use digital yuan at 2022 games

The trio urged the Olympic committee to work with federal agencies "to protect the privacy of American athletes from the Chinese Communist Government." Three US senators have signed a letter urging Olympic officials to forbid American athletes from handling digital yuan during the Beijing 2022 Winter Games.In a Monday letter to US Olympic and Paralympic Committee board chair Susanne Lyons, Republican senators Marsha Blackburn, Roger Wicker, and Cynthia Lummis requested officials prevent US athletes from using or accepting digital yuan given their allegation it can be "tracked and traced" by the People’s Bank of China, or PBoC.

University of Cambridge Bitcoin Mining Map Shows China’s Hashrate Dropped to 46%

After the researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project said that the website’s “Bitcoin Mining Map” had not been updated since April 2020, the map has finally been updated.

Some Chinese Crypto Companies Still Hiring Employees Despite Crackdown

China’s most recent crypto crackdown may not be as watertight as first thought – with reports from the Middle Kingdom claiming that some domestic crypto-related companies are still recruiting new staff. Per the China Securities Journal, via East Money, a number of firms in cities such as the capital Beijing, as well as Shanghai and Chengdu, are still advertising jobs

China Has Dispersed Over $40 Million of Digital Yuan in Red Envelopes, Report Reveals

China, which has arguably the most advanced digital currency project among leading nations, has so far handed out more than $40 million in red envelopes with digital yuan.

New York, London, Beijing and 20 Crypto Jokes

Another fun cryptoweek! Circle decided to go public on the New York Stock Exchange, and with crypto market sentiment finally rising, Grayscale Bitcoin Trust's shares were about to be freed for sale bringing a discussion on what it’d mean for BTC price.

From mining to software: China's regulatory crackdown on crypto continues

Financial institutions, crypto miners, and now software companies — where will regulators in China move to strike next? Financial regulators in China have shut down a Beijing-based software company they suspect of providing services to crypto traders.In a Tuesday joint statement, the Beijing Financial Supervision and Administration Bureau and the Business Administration Department of the People's Bank of China issued a warning to all financial institutions and payment service providers to not provide any crypto-related services to customers.

Beijing Sends Another Warning Over Crypto Trading

A Beijing office of China’s central bank ordered Beijing Qudao Cultural Development Co Ltd, a Beijing-based software maker, to suspend operations, and its website had been deactivated over its suspected involvement in crypto trading, Reuters reported. The department of the People’s Bank of China also warned that companies in the capital should not provide venues,

Huobi imposes 24 hr crypto withdrawal delay to dampen speculation

The exchange's decision aligns squarely with Beijing's ongoing and multi-pronged crackdown on the country's cryptocurrency investors in its attempt to prevent both capital outflows and volatility in the crypto sector. Huobi Global, currently the world's second-largest crypto exchange by daily traded volume, has introduced a 24-hour token withdrawal delay for all over-the-counter (OTC) trades. The decision strikes a blow to all Huobi users, some of whom will moreover be prevented from withdrawing their tokens for as long as 36 hours if the exchange's assessment system judges them to be at particularly high risk.

Shanghai Man: Fight crypto like COVID-19 urges Global Times, hydro power plants popular ...

The country celebrates 100 years of Communist Party rule, pressure may be released as the economy goes back to status quo, Beijing subway now trialing e-CNY.

Beijing and Suzhou Railways Now Accept Digital Yuan Payments for Ride Fares

Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan.

Beijing subway now accepts digital yuan

Beijing's rail transit service now accepts digital yuan for subway rides through an integration with the Industrial and Commercial Bank of China. China continues expanding the scope of its central bank digital currency (CBDC) by debuting digital yuan payments for transport services.According to an official Wednesday announcement, the Beijing subway has launched a pilot program enabling passengers to access 24 subway lines and four suburban railway stations using the digital yuan, also known as e-CNY.The new service is only available for customers witb a bank account at the Industrial and Commercial Bank of China, a major bank involved in China’s CBDC tests.

Hydropower Stations Up for Sale Amid China’s Crackdown on Crypto Mining

Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners.

After Years of ASIC Manufacturing Canaan Expands to Bitcoin Mining in Kazakhstan

Canaan Inc., the crypto mining rig manufacturer based in Beijing, has announced the company plans to mine cryptocurrencies in Kazakhstan.

Chinese Bitcoin miners ‘not even in the mood to drink anymore’

Many Bitcoin miners in China are down with the blues as Beijing forces several operations to go offline. China, once home to about 65% of the total Bitcoin (BTC) mining hash power has given the boot to several miners in the country.The country’s Bitcoin mining ban means miners have been forced to shut down their operations with some establishments already moving hardware overseas.Tweeting on Wednesday, Kevin Zhang, vice president of crypto mining advisory outfit Foundry says the mood among Chinese miners has grown sour, adding:“Sentiment is obviously quite dreary and the reality is setting in that it’s GG for mining in China.

Figuring Out How Much Bitcoin Hashrate Resides in Mainland China Still a Mystery

Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces.

Over 3,000 ATMs in Beijing Offer Digital Yuan Withdrawals

Leading Chinese banks have introduced digital yuan withdrawals at more than 3,000 ATM locations in Beijing.

Over 3,000 ATMs in Beijing can now convert digital yuan into cash

The Agricultural Bank of China previously debuted digital yuan ATMs this January. China continues apace with the adoption of its central bank digital currency (CBDC) as major banks launch a significant batch of digital yuan-powered ATMs.The digital yuan — a CBDC controlled by The People’s Bank of China — is now available for deposit and withdrawals at over 3,000 ATMs across Beijing, state-run Xinhua news agency reported Friday.According to the report, the Beijing branch of the Industrial and Commercial Bank of China has become the first bank to fully enable the digital yuan exchange in the Chinese capital city by setting up more than 3,000 digital currency-compatible ATMs.The Agricultural Bank of China (ABC), another major bank involved in China’s CBDC tests, has also deployed more than 10 ATMs in the Wangfujing area, a major shopping street in Beijing.

China’s Digital Yuan is Now Available at 3000+ ATMs in Beijing

China has expanded its digital currency experiment with a roll-out of digital yuan conversion feature at more than 3,000 ATMs in Beijing.

Genesis Digital Assets Purchases 10,000 Bitcoin Miners from Canaan

The Beijing-based ASIC mining rig manufacturer Canaan announced the sale of 10,000 bitcoin mining machines to the firm Genesis Digital Assets Limited.

China’s Qinghai Province Instructs Bitcoin Mining Operations to Shut Down

Following the report that indicates specific Chinese miners in the Xinjiang region were told by officials to shut down, another agency in Qinghai has informed miners to cease operations in a recently published government mandate.

Shanghai to Hand Out $3 Million in Digital Yuan Lottery

As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai.

Shanghai Man: 'Green-light' for miners? CZ not responsible for BSC, Uniswap frauds on TV

CZ claims Binance didn’t really make Binance Smart Chain, Beijing to distribute $6.2 million in free digital yuan, and miners speak out about clean energy mining This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Beijing to Disperse $6 Million in Digital Yuan in a Red Envelope Lottery

China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3 million) will be distributed to Chinese citizens.

China Hands Out $6.2M for Digital Yuan Tests as Russia Says CBDC are the Future

China's authorities with came with a decision to hand out another sizeable amount of $6.2 million in digital currency to citizens of Beijing.

China to Gives Away $6.2 Million in Latest Digital Currency Trial

200,000 residents of Beijing will be able to win a “red envelope” containing 200 yuan worth of China’s central bank digital currency.

China to hand out $6.2M in new digital yuan trial in Beijing

Beijing residents should apply to participate in the lottery until midnight on June 7. The Chinese government is launching another digital yuan lottery to stimulate its ongoing digital currency trials, this time in the capital of Beijing.The Beijing Local Financial Supervision and Administration officially announced Tuesday that the government will distribute 40 million digital yuan ($6.2 million) to Beijing residents as part of a new digital currency pilot.Starting in June, the program features “red envelopes” — a traditional way of gifting money — with each providing a free online wallet containing 200 digital yuan ($31).

$6.2 Million Worth of Digital Yuan is Officially Piloted in Beijing

The Chinese digital renminbi is officially piloted in the capital of China-Beijing.

Beijing Readies USD 6.2m Digital Yuan Trial Amid Claims Main Rival Is Bitcoin

China’s digital yuan project appears to be entering the final stages of its pilot, with yet another giveaway planned – this time in the nation’s capital Beijing. Like previous giveaways in cities like Shenzhen and Chengdu, the tokens will be distributed in a lottery – with a fortunate few residents given “lucky” red digital envelopes containing access to

Tiger Brokers and Futu to Offer Crypto Trading Services Outside China

Two Chinese online brokerages have set out to enter the global crypto trading market.

China’s Mining Crackdown Continues – But Some Sense Hope

Beijing-backed anti-mining activities continue to gather pace in the Middle Kingdom, with major players apparently exiting the market and trading platforms such as BitMart moving to block Mainland Chinese IP addresses – but some miners in the nation have not given up on the industry, and even sense a new opportunity. Yesterday, IT Home reported, the crypto platform BitMart

Digital yuan conceived to counter Alipay-like platforms, says former PBoC executive

Chinese "crypto dad" and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government. China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said.Speaking at the International Finance Forum in Beijing, Qian argued that simply simulating its physical counterpart would not be enough for the digital yuan to succeed.

Beijing’s Distaste for Bitcoin Mining Spreads to Inner Mongolia, Miners Could Face a ‘Social Credit Blacklist’

Beijing’s recent crackdown on the cryptocurrency industry has found its way into Inner Mongolia according to a recent report.

Key Clues Emerge as to What Beijing Really Thinks About Bitcoin & Mining

Further details are emerging as to what exactly China’s current stance on crypto and crypto mining is – following days of confused reporting on Beijing’s regulatory policies. China’s last major crypto crackdown took place in September 2017, when the government banned crypto exchanges from operating in the country and blocked initial coin offerings (IOCs).

Chinese trade associations sound crypto investment warning

Three associations outlined four issues related to crypto investment, beginning with a call for their members to understand the nature of digital currencies. The China Internet Finance Association has signed a joint statement with the China Banking Association and China Payment and Clearing Association, warning the public about the risks of investing in cryptocurrencies.According to a report by Shanghai Securities News on Tuesday, the aforementioned trade association under the People’s Bank of China issued a communique titled “Preventing the risk of virtual currency transaction speculation.”The joint statement is reportedly an extension of previous releases from the PBoC about Bitcoin (BTC) and crypto risks.As part of the communique, the three associations outlined four issues related to crypto investment, beginning with a call for their members to understand the nature of digital currencies.According to the release, cryptocurrencies are not “real currency” and should not be used as a medium of exchange for goods and services.Back in July, the Beijing Arbitration Commission issued a ruling declaring Bitcoin to be a virtual commodity.For its second point, the trade associations warned financial institutions and other member organizations not to engage in crypto business transactions.

Beijing Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining Activities

Authorities in Beijing have been conducting checks on cryptocurrency mining datacenters to assess and understand its energy consumption and thus the impact on the electric infrastructure.

Bitcoin mining in China set for 'stricter supervision' due to carbon concerns

China is reportedly paying more attention to the crypto mining sector, amid concerns of its growing carbon footprint.

Beijing investigates crypto mining farms to improve energy efficiency

Bitcoin's electricity bill has been attracting the attention of regulators worldwide.

China's Digital Yuan to be Made Available to Visitors During 2022 Beijing Winter Olympics

The People’s Bank of China (PBoC) has confirmed its plans to make its Digital Currency Electronic Payment (DCEP) available to foreign athletes and visitors at the 2022 Beijing Winter Olympics.

China aims to let foreigners use digital yuan at Winter Olympics in 2022

China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022.

Our Man in Shanghai: Filecoin the talk of the town, Polkadot and NFTs gain attention

Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill battle to take on Alipay and WeChat Pay. Distributed storage network project Filecoin is the talk of the town as FIL was the most highly traded token on Huobi, OKEx and Gate on Thursday.

First Brick & Mortar NFT Art Exhibition Debuts In Beijing

In an industry first, a physical exhibition for digital art in the form of non-fungible tokens (NFT) is set to launch in China, showcasing notable works from leading artists in the NFT space and the winning entries from a global digital artwork competition.

Chinese Citizens Can Now Apply for the Digital Yuan Wallet Through 6 State-Owned Banks

Following the interview with Ma Changchun, the head of the People’s Bank of China-run Digital Currency Research Institute, a recent report indicates that residents from Beijing and Shanghai can now apply for a digital yuan wallet.

Chinese Citizens Can Now Apply To Banks for Digital Yuan Wallets

Six banks owned by the Chinese government are allowing Shanghai and Beijing citizens to apply for a digital yuan wallet.

Russia & China vs. USD, Fed's Chair on Bitcoin, FATF Aims at DeFi + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Fiat news During his visit to China, Russian Foreign Minister Sergei Lavrov called for Moscow and Beijing to reduce their dependence on the US dollar and Western payment systems to push back against what he

Bitmain transition complete after Micree Zhan officially replaces Jihan Wu

Beijing-based Bitcoin mining company, Bitmain has officially replaced its general manager and executive director.

China’s Inner Mongolia to shut down crypto mining farms by April 2021

Inner Mongolia drew the ire of Beijing after failing to meet energy efficiency goals.

Beeple Crypto Art Set for NFT Exhibition Debut in China

Beijing is set to get its "first" crypto art exhibition next month.

Chinese bank tests biometric hardware wallet for digital yuan payments

Another Chinese banking institution has created a hardware wallet for the country’s central bank digital currency. China’s large-scale digital yuan testing across several cities continues to gather pace with some financial institution leading the development of hardware wallets for the central bank digital currency. According to news agency Xinhua, the Postal Savings Bank of China has created a biometric hardware wallet for the project. The biometric hardware wallet enables easy identity verification for users via fingerprint sensors on the card. Consumers participating in the CBDC trials in Beijing are also able to use the card to access healthcare services. Indeed, the Postal Savings Bank of China said the hardware wallet, which is still in the testing stage, was designed to provide easier access to the CBDC and healthcare services for the elderly without needing to use smartphones, adding: “With this card, it is much more convenient to enter and exit public places, and you can pay with just one touch.

Beijing’s $1.5 Million Digital Yuan Giveaway: China to Airdrop Digital Currency for Chinese New Year

China is giving away 10 million yuan in its central bank digital currency in Beijing.

China: Beijing to issue 10M digital yuan to increase utilization

China has made tremendous progress with regard to its digital Yuan and has been testing its use on quite a larger scale.

China's DCEP to be tested in Beijing and Shanghai

China has been striving to release its own digital currency or Digital Currency Electronic Payment [DCEP] in 2021.

Beijing, Shanghai to Join Wider Testing of Digital Yuan in 2021

The wider effort to promote the digital currency precedes a launch in the "near future," per a state media report.

Company lawyer says Bitmain suffered $60 million loss in 2019

A live stream from a People's Court in Beijing revealed that Bitmain recorded a loss of about $60 million in 2019, according to the firm’s lawyer. The court hearing was about a labor dispute betw The post Company lawyer says Bitmain suffered $60 million loss in 2019 appeared first on AMBCrypto.

Ex-CIA Analyst: Beijing Blockchain Network May Spark Chinese Net Dominance

The Chinese Blockchain Service Network (BSN), already active in all major Middle Kingdom cities and continuing to add interoperability options, could pose a major threat to America’s dominance in the digital realm, said a security expert and former CIA official – raising questions over the project's possible implications for the crypto sector. The opinions were put

Beijing Municipal Government Conference Notes Plans to Pilot CBDC in China’s Capital

The discussion of China's digital yuan at a regional-level conference indicates the pilot is being included in state-level planning.

Beijing Government Already Has 100 Uses for Blockchain, Says Expert

One of China’s leading blockchain academics said that Beijing has adopted 100 uses for blockchain in the government services sector so far – and stated that Chinese state organizations and private sector firms are rapidly finding real-world uses for the technology. Per Beijing News, the claims were made by Cai Liang, the executive deputy director of the Research

Chinese Banks Stepping up Blockchain Cross-border Trade Financing

Chinese banks are looking to up their cross-border trade game – with a series of new blockchain-powered innovations that could seek to reduce the nation’s dollar dependence. Per Sina, the Beijing-based China CITIC Bank, the country’s seventh-biggest lender, has become the first domestic bank in mainland China to make use of a blockchain-powered cross-border letter of

Beijing Announces ‘Legal Digital Currencies Pilot’ Plan

Beijing is set to build a “legal digital currency pilot area” as part of its new Beijing Pilot Free Trade Zone initiative – although the project’s masterminds have stopped short of providing details as to what sort of tokens will be given the green light. Per the Beijing News, via news agency Xinhua, the project will see “a legal digital currency pilot

China Promotes DeFi and Ethereum on CCTV, But Isn't Crypto Banned?

A segment on China's CCTV appeared to actively promote Etheruem and DeFi, but isn't Beijing anti-crypto? (Read More)

Chinese govt. official: Gambling gangs use crypto to transfer funds abroad

China faces economic risk as illegal gambling operators move 1 trillion yuan in funds from the country, partially in crypto, says a government official. Illegal gambling and casinos result in the outflow of over a trillion yuan annually (around $146.5 billion) from China, said Liao Jinrong, the director general of the International Cooperation Department under the Chinese Ministry of Public Security.  He said that the operators of the overseas gambling platforms and casinos collect the funds from gamblers using digital currencies, making the investigation into these activities more challenging for the authorities. Speaking at an event in Beijing, Liao said that the illegal outflow of such a huge amount can erode the economic security of China.

Chinese State Media Outlets Surprise With Pro-Crypto Reports

Source: Twitter/@DoveyWan Chinese crypto advocates have reacted with surprise after a number of state news outlets in the country reported on a positive-spin story that explains how cryptoassets have become the most successful asset class in the year to date. But the story itself is not exactly a pro-crypto piece of reporting from Beijing.

Beijing sees digital currencies as ‘new battlefield’ in global finance

China's central bank aims to challenge the global financial status quo. The People’s Bank of China is placing a strong emphasis on the geopolitical stakes of the country’s central bank digital currency development. An article published in the PBoC-run magazine China Finance this weekend argued that Beijing should “accelerate the pace [of CBDC development] to seize the first track” in the global race to issue fiat digital currencies. The article stated that China should seize the advantage of becoming a first mover in the arena of digital currencies, which it characterized as the “new battlefield” of inter-state competition. At stake, the article claimed, would be significant changes to the geopolitical status quo in international finance and an opportunity to break dollar hegemony and internationalize the yuan. Moreover, data feedback from a PBoC-issued digital currency would be beneficial for national monetary policy, all the more crucial in a post-pandemic landscape fraught with economic challenges.  The article outlined that, as of the end of April 2020, the PBoC’s research unit has filed 130 cryptocurrency-related patent applications, which cover the gamut of issuance, circulation and implementation. The central bank’s research unit had first been established in 2015 and the project has proceeded apace in 2020.

Beijing pulls ahead of Shenzhen as China’s top blockchain city

The 2020 Chinese Blockchain Innovation rankings have been released. Beijing has been named as China’s top blockchain city in the 2020 Chinese Blockchain Innovation Rankings ahead of the blockchain hub of Shenzhen. The rankings were revealed in a special session at the China International Fair for Trade in Services Summit.

China Unveils Inaugural Blockchain City Rankings

Beijing is officially China’s top blockchain city, per official rankings, but second city Shanghai placed third behind Shenzhen, the nation’s fastest-growing blockchain hub. These were the findings of a special session at the China International Fair for Trade in Services, the first large-scale international economic and trade convention to be held in China since the

Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains Weak

Canaan Creative, the Chinese maker of bitcoin mining hardware, reported a net loss of $2.4 million during the second quarter of 2020, down from $5.6 million in the previous quarter.

Beijing Telecoms Provider Latest Company to Join Digital Yuan Pilot

Another private sector firm has stated that it is working with the Chinese central bank on its fast-expanding digital yuan pilots. Per Shanghai Securities News, a Beijing-based telecom provider named Shenzhen Techo Telecom admitted that it was working on the project, known in China as the Digital Currency Electronic Payment (DCEP) system. The firm appears to be reluctant to

Huawei and Beijing Municipal Government Develop Blockchain-Based Data Directory System

Telecoms giant Huawei has joined hands with the Beijing Municipal Government to create a blockchain-powered directory system.

DeFi Aggregator Bella Protocol Announces $4M Seed Round

Beijing-based decentralized finance (DeFi) aggregator Bella Protocol announced Monday a $4 million seed round led by Arrington XRP Capital.

Huawei Builds Blockchain Platform So Beijing Govt Can Better Manage People’s Data

Huawei’s cloud services arm is helping the Beijing government set up a blockchain platform that would better track and manage people’s data ranging from medical records, real estate registration and real time parking updates.

Huawei and Beijing jointly develop municipal blockchain directory

Beijing’s municipal government has ambitious plan for smart city infrastructure based on the Huawei Cloud Blockchain. Huawei and Beijing’s municipal government have jointly developed a blockchain directory for use across urban governance. According to an official report published on Aug.

Huawei and Beijing work together on blockchain governance platform

Huawei Cloud is co-creating a blockchain-based data sharing platform with the Beijing municipal government.

Huawei Working with Beijing on Blockchain Governance Platform

Chinese tech giant Huawei may be under fire from governments in the United States and Europe, but appears to be pursuing new, blockchain-powered business avenues in its home country. Per Jintai News, the firm’s Huawei Cloud arm has joined forces with the Beijing Municipal Government to co-create a blockchain-based, data-sharing public directory system. The tech giant

Beijing Makes Digital Yuan Pilot Expansion Plan U-turn

The Chinese government has indicated that it may not decide to expand the scale of its digital yuan launch after all – just days after it revealed details of a massive expansion encompassing some of the most affluent parts of the country. As previously reported on Cryptonews.com, the nation’s Commerce Ministry late last week issued plans to scale up its so-called