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Chinese Authority Warns of Fake Digital Yuan App Scam


Chinese Ministry of Industry and Information Technology cautions against counterfeit digital yuan apps as scam tactics evolve, urging the public to verify through official channels. The post Chinese Authority Warns of Fake Digital Yuan App Scam appeared first on Cryptonews

China’s National Prosecutor Takes Action Against Blockchain Cybercrimes


China's highest prosecutorial authority is stepping up efforts to combat the growing wave of cybercrimes by targeting criminals who exploit blockchain and metaverse projects for illegal activities.  The post China’s National Prosecutor Takes Action Against Blockchain Cybercrimes appeared...

Digital Yuan Now Used to Complete Car Prepurchase Payments


The digital yuan, China’s central bank digital currency (CBDC), is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with digital yuan was established in early February...

Car Buyers in China Now Can Pre-Pay with Digital Yuan Smart Contracts


China’s Shenzhen has introduced a new era of automotive purchasing with digital yuan smart contracts, offering enhanced pre-payment security for car buyers in collaboration with Agricultural Bank of China. The post Car Buyers in China Now Can Pre-Pay with Digital Yuan Smart Contracts appeared first...

China to Revise AML Law to Address Risks Associated with Virtual Assets


China is set to revise its outdated Anti-Money-Laundering (AML) law in a bid to tackle the increasing risks associated with virtual assets. The draft amendment, discussed at a State Council meeting chaired by Chinese Premier Li Qiang, will soon undergo review by the national legislature, according...

Cheap Energy Cost Fuels Chinese Bitcoin Miners Migration to Ethiopia


Ethiopia has become a lucrative destination for Bitcoin miners with lower energy costs and friendly government policies driving the move. According to Bloomberg, Bitcoin miners from China and other countries are setting up shop in the East African country followed by energy deals with electricity...

Ethiopia Emerges As New Bitcoin Mining Hotspot – Will it Last?


Ethiopia is growing popular for Bitcoin mining after China ejected the industry from its borders in 2021. Following the ban, China’s biggest players scattered across the globe searching for new locations that would respect their energy-intensive business practices. That journey led many to arrive...

China Never Completely Banned Crypto


Despite government crackdowns and widespread reports that crypto is outlawed in China, crypto trade is still very much alive. How is that possible?

Beijing-Run CBEX Denies Links to Same-Named Crypto Firm + More Crypto News


Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news. In today’s edition: Beijing-Run CBEX Denies Links to Same-Named Crypto Firm Bracket Labs Integrates Passage on BNB Chain Following $2M Pre-Seed from Binance Labs Wirex...

Beijing Censors Crypto Mining Activities to Strengthen Energy Conservation


Beijing, China has further doubled down on crypto mining activities as a part of its revamped energy conservation implementation plan. Per a recent government notice, the Beijing Municipal Development and Reform Commission along with 11 other departments have implemented revised plan to further...

UAE and China Complete First $13.6M Cross-Border CBDC Transaction


The United Arab Emirates and China have executed their first cross-border central bank digital currency (CBDC) transaction valued at $13.6 million using digital dirham and digital yuan. According to People.cn, the 50-million-dirham ($13.6 million) transaction occurred via the m-CBDC Bridge platform...

UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud


The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 128,000 investors. British Police Seize Over...

China Gears Up for Updated Crypto AML Laws: Report


China is reportedly planning to enhance surveillance over the burgeoning crypto sector, by amending its anti-money laundering (AML) laws to include crypto transactions. A group of executives, chaired by Prime Minister Li Qiang discussed the ‘revised draft’ of the AML regulations on January 22....

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