China | Crypto Profit Bot

How the digital yuan stablecoin impacts crypto in China: Experts answer

April 10, 2021

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This is part one of a multipart series on blockchain and crypto in China. China has been discussing the possibilities of national digital currency for half a decade, and the Chinese digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP — has years of history. Back in 2014, the People’s […]

Ebang refutes Bitcoin ‘China Hustle’ claims as share price falls 20%

April 9, 2021

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A Nasdaq-traded Chinese Bitcoin mining firm has seen its shares fall 20% after a damning short report unveiled some alleged dodgy dealings. 9480 Total views 46 Total shares The share price of Chinese Bitcoin mining company Ebang continues to fall, while the firm refutes claims made in a Hindenburg Research report that alleged it was pilfering […]

US must embrace Bitcoin to counter Chinese ‘financial attack’ — Pomp

April 8, 2021

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Bitcoin, like the internet, can be used in ways which could compromise U.S. prowess without suitable allowances from lawmakers. 1953 Total views 22 Total shares Bitcoin (BTC) can undermine the U.S. dollar if the United States does not take a lead role in accepting it, argues Anthony Pompliano. Speaking to CNBC on April 8, the […]

Bitcoin miner firm Ebang launches Ebonex crypto exchange

April 5, 2021

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Cryptocurrency miner supplier Ebang has officially launched its own crypto exchange after an invitation-only beta phase earlier this year. 4585 Total views 22 Total shares Ebang, a publicly listed company providing mining hardware for cryptocurrencies like Bitcoin (BTC), has officially announced the launch of its own crypto exchange. According to an announcement on Monday, qualified […]

Bitcoin no longer a fringe asset due to US dollar debasement, says Soros Fund exec

March 26, 2021

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Soros Fund Management’s CIO said that Bitcoin is no longer out on the fringes, thanks to the debasement of the U.S. dollar over the past year. 7041 Total views 42 Total shares Soros Fund Management chief information officer Dawn Fitzpatrick said Bitcoin (BTC) may once have been considered a fringe asset, but the inflation of […]

China’s digital yuan is backup to AliPay and WeChat Pay, says official

March 26, 2021

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Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. 4501 Total views 25 Total shares China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank […]

China’s blockchain ambitions set in stone after mention in national five-year plan

March 12, 2021

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China’s latest five-year plan mentions blockchain technology specifically and signals an increasing focus on the research of emerging technologies. 9052 Total views 30 Total shares China’s determination to stay ahead of the curve when it comes to the utilization of blockchain technology was evidenced again this week, after the release of the country’s latest five-year […]

Chinese banks pilot digital yuan at Shanghai department stores

March 11, 2021

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The Bank of Communications and China Construction Bank conducted digital yuan trials at two major department stores in Shanghai. 3671 Total views 28 Total shares Shanghai’s New World City and New World Daimaru Department Store, and food caterer Taikang Food Store handled thousands of digital yuan transactions over the past weekend, Shanghai Daily reports. As […]

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

March 1, 2021

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Inner Mongolia drew the ire of Beijing after failing to meet energy efficiency goals. 4796 Total views 21 Total shares Authorities of the Chinese autonomous region of Inner Mongolia have proposed closing down all local cryptocurrency mining facilities to reduce energy consumption in the region. The Inner Mongolia National Development and Reform Commission, or NDRC, […]

China’s CBDC is about domestic dominance, not beating the dollar

February 26, 2021

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For the past several years, the trade war between China and the U.S. has been at the center of international relations, with technology playing an outsized role. Within crypto, advancing interest in central bank digital currencies has become part of that narrative of geopolitical competition. Many have framed the development of CBDCs in China and […]

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Category: China