Search
Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers
11.7.2020
Chinese authorities have seized cryptocurrencies worth about $15 million while bringing down a scam involving fake Huobi tokens. In addition, ten people were arrested while luxury cars and real estate were confiscated. The police in the Chinese city of Wenzhou, Zhejiang province, have cracked...
Chinese Province to Use Quarkchain for Construction Resource Management
8.7.2020
Blockchain firm Quarkchain announced a partnership with the ecological department of Northeastern Chinese province Shanxi
Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions
7.7.2020
A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. Recently, two bank runs happened within a week as people lost faith in financial institutions amid...
S Korean Province Mulls Local Stablecoin-powered Universal Basic Income
7.7.2020
Typical Korean street food. The Governor of Gyeonggi Province, South Korea’s most populous province, has suggested launching a universal basic income – funded by local stablecoins.
Per OhMyNews, the proposal, spearheaded by Lee Jae-myung, who was elected Governor of Gyeonggi Province in 2018,...
Chinese Government Crackdowns and Cheap Hydropower- Miners Migrate from North to South China
4.6.2020
China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan...
Bitcoin Hashrate Slides 33% Since Halving – Difficulty Drops, Issues in Sichuan China
22.5.2020
It’s been 11 days since the third bitcoin block reward halving. Data now shows that the overall SHA256 hashrate lost around 47 exahash per second (EH/s), since the all-time high of 140 EH/s on May 3. With more than 33% of the hashrate lost, reports stemming from Sichuan China indicate that...
1 Cent per Kilowatt-Hour: China’s Sichuan Province Encourages Hydro-Powered Bitcoin Mining
29.4.2020
The local government of Ya’an city, in China’s Sichuan province, has announced the region is encouraging bitcoin mining in Sichuan if operations leverage the local hydropower plants. The document released by Ya’an city officials is in stark contrast to how Sichuan lawmakers felt...
Chinese Province: All Our Cities Have Blockchain Platform Coverage
30.3.2020
Danxia landform, Zhangye City, Gansu Province, China. The Northwestern Chinese province of Gansu says that all of its cities are now covered by its Blockchain Service Network (BSN) service platform.
Per a report from the Chinese Communist Party's official newspaper the People's Daily, Gansu first...
S Korean Province to Fight COVID-19 Recession with Stablecoin Handout
25.3.2020
Suwon, the capital of Gyeonggi Province. South Korea was one of the first nations after China to be hit with a major coronavirus outbreak. But as the health crisis slowly abates in the East Asian nation, government authorities are now looking at ways to deal with COVID-19’s economic fallout.
But...
Chinese Province Sees First Official Blockchain Zone
4.3.2020
Home to 788 blockchain companies, Hunan province in central China is about to open its first official blockchain zone
Chinese Province Launches Blockchain-powered SMB Financing + More News
3.1.2020
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Blockchain news
China’s Guangdong Province has launched a blockchain-powered finance platform for small and medium-sized businesses...
Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season
28.12.2019
Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower...
Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers
25.12.2019
In the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud. Also Read: Chinese Regulators...
Another Bank Run Highlights China’s Brewing Financial Crisis
28.11.2019
A regional lender has become the latest victim of the growing liquidity crunch in the world’s most populous country. Yingkou Coastal Bank, operating in the northeastern Chinese province of Liaoning, is the second institution within less than a month to see its financial stability threatened...
Another Chinese Lender Bailed Out After Bank Run
3.11.2019
Yichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that...
German Bank Predicts BTC at $90,000 After Next Halving
3.10.2019
You wouldn’t expect a traditional financial institution to come up with a very optimistic forecast about the future of a cryptocurrency or an honest appraisal of its design. But Bayern LB, a lender based in the rich German province of Bavaria, has surprised the crypto community. In a recently...
China’s Autonomous Province Inner Mongolia Decides to Limit Crypto Mining in the Region
23.9.2019
Inner Mongolia, which is an autonomous region within China, having a government that acts independently of the Chinese government, has decided to put a limit on crypto mining in the province. Five departments of the province’s government will work in co-operation to implement suitable restrictions...