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Bitcoin Makes the First Page of China’s State-Sponsored National Newspaper

Posted on November 12, 2019November 12, 2019 by Rehan Yousaf

Bitcoin(BTC)trade has made the headline on Xinhua, the People’s Republic of China’s national publication. The state-sponsored news outlet featured an article which was titled ‘Bitcoin: The First Successful Application of Blockchain Technology.’ The piece has been circulating on social media platforms such as Twitter, as members of the crypto community shared it around. Matthew Graham, CEO of Sino Global Capital was one the first people to notice the article and posted it on Twitter with…

CEO of Chinese Mining Firm MicroBT Is Arrested After Bitmain’s Infringement Allegations

Posted on November 10, 2019November 10, 2019 by Rehan Yousaf

China’s Shenzhen Police has arrested Zuoxing Yang, known as the CEO and founder of MicroBT, a Bitcoin(BTC)trade mining equipment manufacturer based in China. According to the city police, Mr. Yang has been held to assist the investigators regarding a dispute between MicroBT and Bitmain in which the latter accuses the former of exercising intellectual property infringement. MicroBT is a technology company which is focused on different developments related to blockchain and artificial intelligence. It especially…

Optimism! Ripple CEO Predicts the Downfall of 99% of All Cryptocurrencies

Posted on November 7, 2019November 7, 2019 by Rehan Yousaf

In an interview with Bloomberg, the CEO of Ripple (XRP)trade Brad Garlinghouse expressed his opinion on the rapidly expanding sphere of digital currencies. Replying to a question posed by the host, Garlinghouse said that there are too many cryptocurrencies in the market right now. He noted that there are almost 3,000 digital assets that are being exchanged on a daily basis. According to Garlinghouse, a reason why there is a proliferation of digital assets in…

China Calls for Steady Development of Blockchain and Avoidance of ‘Aircoins’

Posted on November 5, 2019November 5, 2019 by Rehan Yousaf

The Communist Party of China’s certified media outlet, The People’s Daily, released a featured article on blockchain and its future in China on October 4th. The piece was titled ‘Blockchain, a breaking point for China to overtake.’ Dovey Wan, an investor, adviser and crypto analyst shared screenshots of the piece and its translation on Twitter, calling attention to specific parts. The article claims that although blockchain is the future, innovation in blockchain does not guarantee…

Chinese State Media Maintains the ‘Yes Blockchain, No Cryptocurrency’ Policy

Posted on October 31, 2019October 31, 2019 by Ravi Rd

Last week, Chinese President Xi Jinping made several positive remarks regarding blockchain adoption, which sent the share prices of various blockchain-related firms to higher levels. The comments from the Chinese leader also skyrocketed Bitcoin(BTC)trade, resulting in last week’s rally that the crypto market witnessed. However, the Chinese state newspaper the People’s Daily released a commentary, explaining that investors shouldn’t refer to this blockchain endorsement as a support for the entire crypto market as a whole….

Chinese Official Urges Governments to Strictly Control Digital Assets

Posted on October 30, 2019October 30, 2019 by Julie Williams

“…But it could also bring a lot of illegal cross-border financial activities. This should be a matter of great concern to all countries, especially emerging markets.” Sun Tianqi Speaking on the Bund Summit in China’s commercial hub, the chief accountant of China’s State Administrator of Foreign Exchange (SAFE), Sun Tianqi, urged governments to pay close attention to digital currencies. He elaborated on the perks of emerging markets such as the crypto market and also discussed…

China Passes Legislation for Clearer Crypto Guidelines and Regulations

Posted on October 28, 2019October 28, 2019 by Julie Williams

It seems like China is finally ready to take the bull by the horn. Instead of running away from the emerging technology and missing out on all it has to offer, the government of China has devised a safe means to leverage its untold potential, without necessarily getting burnt. Impossible, you may say. However, the people of China are ready to take the high road and strongly regulate the crypto ecosystem to reduce avenues for…

Bitcoin’s Friday Jump to $10K Theories: Chinese President’s Statement or ‘Short Squeeze’

Posted on October 27, 2019October 27, 2019 by Julie Williams

I guess we can all agree that it was a good Friday for the global crypto community this week. The prices of the top crypto coins saw a huge spike in just a few minutes on Friday, October 25, with Bitcoin(BTC)trade climbing all the way up to a little over $10,000. This is a substantial rise from the $7,000 mark it hovered around on Thursday, and analysts believe that the largest virtual currency by market…

China’s Tech Giant Tencent: Facebook Libra Threatens Digital Payment Systems Too

Posted on October 26, 2019October 26, 2019 by Julie Williams

The renowned Chinese internet-based technology conglomerate, Tencent Holding, joined the queue earlier in the week when it released its blockchain whitepaper for 2019 that suggests Facebook’s cryptocurrency Libra poses as much threat to the current digital payment systems as much as it does to the traditional financial world. Before now, Facebook’s forthcoming crypto coin Libra was grossly criticized for poor regulation and governance as well as its supposed pull on the traditional financial world. There…

China Releases the Second Batch of State-Approved Blockchain Companies

Posted on October 23, 2019October 23, 2019 by Ravi Rd

On October 18, China’s Office of the Central Cyberspace Affairs Commission announced the publication of the second batch of authorized domestic blockchain information service providers and released a list of new approved 309 blockchain companies. Chinese authorities have officially implemented the new ‘Regulation for Managing Blockchain Information Services’ (also referred to as the “Administrative Regulations”) on February 15, 2019. The State Internet Information Office later conducted a review and worked out a list out of…

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