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China’s Crypto Crackdown: Fundamentals Still Show Bull Market Continuation, Bobby Lee Says ‘Don’t Panic’
24.9.2021
The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it...
Chinese regulators unite forces to crack down on crypto
24.9.2021
The Chinese central bank sets up a “coordination mechanism” with state agencies to continue battling crypto
Crypto adoption is a ‘huge challenge,' says Chinese central bank exec
24.9.2021
PBoC maintains its anti-crypto stance despite local players experimenting with digital yuan-pegged stablecoins
Rich Dad Poor Dad Author Calls Evergrande a ‘House of Cards’ While China’s Officials Prep for Firm’s Demise
23.9.2021
The world is still focused on the financial downfall of China’s real estate giant Evergrande and according to Chinese authorities have told the private sector to get “ready for the possible storm.” Reports show that even though the People’s Bank of China already provided...
New decentralized stablecoin in China targets international trade
23.9.2021
Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan
China to ‘maintain a high-pressure situation’ on crypto, official says
27.8.2021
An official at the People's Bank of China saidthat the public should increase their risk awareness and stay away from crypto investments
Crypto ‘not protected by law,’ rules provincial high court in China
23.8.2021
A provincial high court ruling in China has set a potential precedent by declining to protect a plaintiff’s $10,000 worth of lost crypto tokens
People's Bank of China in Shenzhen ‘cleans up’ illegal crypto firms
18.8.2021
The Shenzhen branch of the People's Bank of China launched a special “rectification” program against illegal crypto-related activities, beginning with a crackdown on 11 emerging companies
People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown
18.8.2021
The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions. According to Chinese media, the entities have been targeted in a crackdown on crypto trading in...
Digital Yuan to Promote International Use of Chinese Currency, Experts Say
30.7.2021
The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct...
Ex-Bank of China Chief Issues DeFi Warning
29.7.2021
The former head of the commercial banking giant the state-owned Bank of China has sent out a warning about decentralized finance (DeFi) and cryptocurencies.
Per the 21st Century Business Herald, via East Money, Li Lihui, who was appointed President of the Bank of China in 2004, stated that...
Countries representing over 90% of global GDP are exploring CBDCs
25.7.2021
Governments around the world are pouring more resources into CBDC research and exploratory use cases. Among the major economies, China appears to be pulling ahead and has plans to implement digital-yuan usage during the 2022 Winter Olympics in Beijing
Digital yuan pilots expand to insurance industry for the first time
21.7.2021
China's central bank digital currency can now be used on insurance policies that offer various levels of compensation for diagnosis of or death due to COVID-19
China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced
16.7.2021
The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently...
Shanghai Man: Central bank speaks out, BTC searches down and HK fund backs Animoca
9.7.2021
PBoC says no to virtual currencies, Jack Ma's fund invests $50m into NFT game maker, searches for BTC in China at 90 day low
China's central bank worried about stablecoins' risk to financial systems
8.7.2021
While Visa and other major private payments networks see the potential of stablecoins, China's central bank believes they pose serious risks to global financial systems
China Shuts Down Software Maker Over Suspected Crypto-Related Activity, Issues Industry-Wide Warning
7.7.2021
The People’s Bank of China (PBOC), the country’s central bank, has shut down a software firm over suspected involvement in cryptocurrency transactions. The central bank also warned organizations not to “provide premises, commercial display, advertising … and other services...
Beijing subway now accepts digital yuan
30.6.2021
Beijing's rail transit service now accepts digital yuan for subway rides through an integration with the Industrial and Commercial Bank of China
PBOC Instructs China’s Banks to Forbid All Cryptocurrency Related Activities Immediately
21.6.2021
China’s central bank has sent notice to the country’s financial institutions instructing them to stop dealing with cryptocurrency transactions. The disclosure notes that the People’s Bank of China (PBOC) aims to protect Chinese citizens and “combat the speculation of Bitcoin...
Banks fall in line as China’s central bank cracks down on crypto accounts
21.6.2021
AgBank — the world's third-largest bank by assets — has indicated it will follow the PBoC's cue and work to stamp out its clients' crypto-related activities