China | Crypto Profit Bot

China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

June 27, 2022

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Stablecoins like USDT and USDC would be doing just fine if properly regulated, while Bitcoin is a “Ponzi scheme” in any case, China’s BSN chair told Cointelegraph. 159 Total views 1 Total shares Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred […]

The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell

June 11, 2022

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The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June […]

Chinese state media signals tighter crypto regulations in Terra aftermath

May 31, 2022

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The China state-owned media outlet, the Economic Daily, has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. In an article published May 31, the outlet detailed the collapse of TerraUSD (UST) and Luna (LUNA), explaining the workings of the algorithmic stablecoin. […]

Bitcoin price action decouples from stock markets, but not in a good way

May 28, 2022

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This week the stock markets began to flash a little green and Bitcoin (BTC) is decoupling from traditional markets but not in a good way. The cryptocurrency is down 3% while the Nasdaq Composite tech-heavy stock market index is up 3.1%. May 27 data from the United States Commerce Department shows that the personal savings […]

Developing countries love the Metaverse, rich nations not keen: WEF survey

May 26, 2022

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Developing countries have more than double the amount of people positive that the Metaverse will impact their lives and they’d use it daily in comparison to developed countries. 1228 Total views 6 Total shares Excitement for the Metaverse and virtual or augmented reality (VR/AR) is much greater in developing countries than in high-income countries according […]

China returns as 2nd top Bitcoin mining hub despite the crypto ban

May 17, 2022

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The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report. China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government […]

2 key metrics point toward further downside for the entire crypto market

April 29, 2022

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The total crypto market capitalization has been holding a slightly ascending trend for the past 3 months and the $1.75 trillion support was most recently tested on April 27 as Bitcoin (BTC) bounced at $38,000 and Ether (ETH) at $2,800 on April 27. Total crypto market cap, USD billion. Source: TradingView The crypto market’s aggregate […]

Residents of 3 Chinese cities paying taxes and charges with digital yuan

April 29, 2022

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China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security. 742 Total views 30 Total shares Residents in three major Chinese cities have begun paying tax, stamp duty and social security premiums using the country’s central bank digital currency — the digital yuan (e-CNY). […]

China-based regulatory and trade associations target NFTs in latest risk notice

April 13, 2022

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“We solemnly call on consumers to […] be vigilant and stay away from NFT-related illegal financial activities,” said the associations. 861 Total views 31 Total shares The China Banking Association, the China Internet Finance Association and the Securities Association of China issued a joint statement warning the public about the “hidden risks” of investing in […]

Volvo’s parent company establishes blockchain joint venture headquarters in Wuxi, China

March 22, 2022

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Geely Holding sold over 2.2 million vehicles in 2021, including 698,693 Volvo cars. 1146 Total views 29 Total shares On Tuesday, privacy blockchain Concordium and Geely Holding, a Chinese multinational automotive car company that owns brands such as Volvo, announced the creation of a joint blockchain venture with headquarters in Wuxi, China. The project aims […]

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Category: China