Tag Archives: China

Hong Kong Official Touts Blockchain for China’s ‘Belt and Road’ Plan

Hong Kong Official Touts Blockchain for China’s ‘Belt and Road’ Plan

A senior official for the government of Hong Kong has said blockchain could bolster China’s ongoing efforts to significantly expand its trade capabilities. According to Chinese news service Caixin, James Lau, Hong Kong’s Secretary for Financial Services and the Treasury, touted the technology during a forum appearance on Friday. Lau said that blockchain would bring “great benefits” […]

Is China Planning to Resume Bitcoin and Cryptocurrency Trading Soon?

Is China Planning to Resume Bitcoin and Cryptocurrency Trading Soon?

CNLedger, a trusted news source within the Chinese cryptocurrency industry, has revealed that OKEX will soon launch peer-to-peer (P2P) over-the-counter (OTC) bitcoin-to-fiat trading platform. “More OkEx (and likely, Huobi-Pro) will soon launch P2P bitcoin tradings with various fiat currency support,” CNLedger reported. “We believe they’ll support CNY and some others like USD, JPY. They are registered outside China, […]

China Renaissance CEO: Blockchain More Important Than Bitcoin

China Renaissance CEO: Blockchain More Important Than Bitcoin

The head of a Chinese investment bank says he believes bitcoin’s underlying technology is more important than the cryptocurrency itself. Fan Bao, the CEO of China Renaissance, said in an interview with CNBC that while bitcoin’s market may be a bullish one, he believes that underlying blockchain tech is more attractive and “probably the most disruptive technology…in […]

DEA Report: Bitcoin Used for Trade-Based Money Laundering

DEA Report: Bitcoin Used for Trade-Based Money Laundering

A new report from the U.S. Drug Enforcement Administration (DEA) claims that bitcoin is being used to facilitate trade-based money laundering (TBML) schemes. Published by the Department of Justice, the report offers a broad overview of the U.S. government’s efforts to police the illicit drug trade. Included in the study, however, is a segment on cryptocurrencies, which […]

China’s IT Ministry Backs New Blockchain Research Lab

China’s IT Ministry Backs New Blockchain Research Lab

Regardless of its recent crackdown on bitcoin exchanges and initial coin offerings (ICOs), China’s government still appears committed to the potential of blockchain in other areas. According to a report by Caixin, the country’s Ministry of Industry and Information Technology has launched a research facility called the Trusted Blockchain Open Lab in order to support […]

China, Shmyna: Bitcoin Trading Is Way More Distributed Now Anyway

China, Shmyna: Bitcoin Trading Is Way More Distributed Now Anyway

Marc Hochstein is the managing editor for CoinDesk and a former editor-in-chief of American Banker. In this opinion piece, Hochstein takes a quick look at the current state of the bitcoin markets, finding that just because there’s smoke, there’s not necessarily fire. Tl;dr: this ain’t Mt. Gox – and bitcoin survived that, too. With all […]

$11 Billion: 24-Hour Cryptocurrency Trading Volume Hits New Record

$11 Billion: 24-Hour Cryptocurrency Trading Volume Hits New Record

Cryptocurrency trading volume reached a new milestone on Friday, crossing $11 billion for the first time amid regulatory uncertainty in China. Crypto Markets Post Record Volume According to data obtained from CoinMarketCap, the combined 24-hour trading volume of all cryptocurrencies rose to $11.5 billion shortly after 16:00 UTC. The only other time daily trading volume […]

Bitcoin Finds Bottom at $4,000 as Price Awaits Post-China Breakout

Bitcoin Finds Bottom at $4,000 as Price Awaits Post-China Breakout

The bitcoin-US dollar exchange rate (BTC/USD) may have climbed back above $4,000, but it might be ready to push higher even though China uncertainty reigns supreme. Following reports the country’s regulators may be seeking to shut down domestic bitcoin exchanges, the bitcoin price fell to a low of $3,977 on the CoinDesk Bitcoin Price Index (BPI) […]

Report Casts Doubt on Future of China’s Bitcoin Exchanges

Report Casts Doubt on Future of China’s Bitcoin Exchanges

Regulators in China are said to be considering a move to close all domestic bitcoin and cryptocurrency exchanges. According to a report from business media Caixin, sources close to China’s internet financial risk rectification work group, have said the decision has not only been reached, but delivered and deployed to local authorities. The work group […]