China | Crypto Profit Bot

Countries representing over 90% of global GDP are exploring CBDCs

July 25, 2021

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Governments around the world are pouring more resources into CBDC research and exploratory use cases. Among the major economies, China appears to be pulling ahead and has plans to implement digital-yuan usage during the 2022 Winter Olympics in Beijing. 6498 Total views 6 Total shares The quest to understand the opportunities and challenges of a […]

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

July 21, 2021

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China’s Foreign Ministry responded to U.S. 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, […]

Institutional demand for Bitcoin evaporates as BTC struggles below $31K

July 20, 2021

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The rocky road that Bitcoin (BTC) has been on for the past two months continued on July 19 as a widely predicted move downwards materialized in the early hours on Monday and dropped the price of BTC below $31,000. Data from Cointelegraph Markets Pro and TradingView shows that a wave of mid-day selling pushed the price […]

Fed and Yale researchers lay out 2 regulatory frameworks for stablecoins

July 18, 2021

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Yale Professor Gary B. Gorton and Jeffery Zhang of the Board of Governors of the Federal Reserve System have co-authored a 49-page paper called, “Taming Wildcat Stablecoins.” 5018 Total views 6 Total shares The Federal Reserve’s ongoing research into central bank digital currencies, or CBDCs, has broadened to include stablecoins and whether they can be […]

Four North American Bitcoin miners that could benefit from the East-West shift

July 18, 2021

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Even before China finally wielded the ban hammer on crypto mining, Bitcoin (BTC) miners in North America had been building up their capacity amid efforts to gain a larger share of the global hash rate distribution. From building bigger data centers to acquiring hardware inventories, these establishments have been making concert efforts to balance the […]

On the fence: If this is a crypto bear market, how long can it last?

July 17, 2021

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It has now been three months since Bitcoin’s price peaked at an all-time high just shy of $65,000. For most of the last two months, Bitcoin (BTC) has been trading in the $30,000–$40,000 range, as much as 54% lower than its peak The downturn came at a time when many analysts were predicting exactly the […]

Shanghai Man: Crypto media closes, bad news just repeats, mining laws are beneficial?

July 16, 2021

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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. It has now been two months since the crypto crackdown and subsequent enforcement began. Most new stories are now just the trickling down […]

China shuts down crypto mining in Anhui province

July 14, 2021

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The Anhui government is addressing growing electricity demand by shutting down local crypto mining operations. 324 Total views 5 Total shares The Chinese government continues cracking down on the cryptocurrency mining industry by suspending crypto mining operations in another province. Authorities at Anhui, a small province in eastern China, have announced a set of measures […]

Bit Mining raises $50M to take operations out of China

July 14, 2021

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Bit Mining is looking to exit China’s market in response to the recent government crackdown on mining. 1938 Total views 5 Total shares Shenzhen-based crypto mining firm, Bit Mining, is raising $50 million to fund an expansion out of the Chinese market. Announced on July 12, the firm has entered into an agreement with select […]

China’s central bank worried about stablecoins’ risk to financial systems

July 8, 2021

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While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems. 544 Total views 4 Total shares The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official. Fan […]

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Category: China