Chinese Banking institutions Educate the Public in the Pitfalls of Crypto
Banks Chinese

Chinese Banking institutions Educate the Public in the Pitfalls of Crypto

Source: Adobe/gui yong nianProvincial branches of China’s biggest commercial banks have begun “educating” the general public on the dangers of crypto and money-laundering – but it appears that the message that crypto and mining is “bad” isn’t getting through to some public officials.Following the crypto crackdown on crypto transactions through banks and the mining industry…

Chinese Courts Sentence Crypto Miner, Fraud Bands as Enforcement Continues
Chinese Courts

Chinese Courts Sentence Crypto Miner, Fraud Bands as Enforcement Continues

Source: Adobe/SerhiiCrypto mining and investment in most of their forms have been shunted to the margins of society in China, but in some parts of the country, appetite for mining coins remains high, to the extent that some seem prepared to steal electricity from the grid to fuel their efforts.Per the National Business Daily, the…

Chinese Crypto Mining Crackdown Turns Concentrate to PC Areas and Home Miners
Chinese Crypto

Chinese Crypto Mining Crackdown Turns Concentrate to PC Areas and Home Miners

Source: AdobeStock / littlewolf1989Having effectively eliminated its industrial crypto mining sector, China is now going after the small fry: internet café and PC gaming room operators – and even those mining on rigs and cards at home – as Beijing moves to squash the mining industry once and for all.China, like many other East Asian…

Chinese Central Lender: NFT, Metaverse Could Become Money-Laundering Tools
central Chinese

Chinese Central Lender: NFT, Metaverse Could Become Money-Laundering Tools

Source: AdobeStock / dule964The Chinese central bank’s anti-money laundering chief has spoken out about non-fungible tokens (NFTs) and metaverse projects – suggesting that there may be a need to regulate these sectors in the same manner as it polices cryptoassets.In two crackdowns (one in September 2017 and the second in September this year), the central…

Chinese Central Govt Really wants to Create Digital Asset Exchanges as CBDC Nears
central Chinese

Chinese Central Govt Really wants to Create Digital Asset Exchanges as CBDC Nears

Source: AdobeStock / RHJChina’s policy-forming State Council has announced that it wants the nation to launch Beijing-based digital asset exchanges to power the adoption of its forthcoming central bank digital currency (CBDC) project, the digital yuan.The council called upon financial bodies to speed up the pilots for the digital yuan and asked commercial banks in…

Best Chinese Official Booted away For Helping Crypto Mining Activities
Chinese official

Best Chinese Official Booted away For Helping Crypto Mining Activities

Source: AdobeStock/MirkoA top Chinese regional official has been expelled from the Chinese Communist Party – and may face heavy punishment for allegedly “supporting” crypto mining in exchange for bribes and sex.Per NBD and the China Daily, charges against the official, Xiao Yi, were leveled by the supervisory committee of the Central Commission for Discipline Inspection…

Chinese retail huge JD accepts electronic yuan payments for Singles Time
Chinese Retail

Chinese retail huge JD accepts electronic yuan payments for Singles Time

Some 450,000 JD.com customers have used China’s digital yuan for payments as of June 2021…

Some Chinese Crypto Web sites Still Operational, Says Condition Mass media
Chinese Crypto

Some Chinese Crypto Web sites Still Operational, Says Condition Mass media

Source: Adobe/ink dropSome Chinese sites are “still selling” crypto, raising funds in tokens like bitcoin (BTC) and ethereum (ETH), and circulating crypto-related news stories from within the Mainland, a report has claimed, citing evidence from government-aligned agencies.Per the state-owned news agency Xinhua, recent proclamations from the central People’s Bank of China (PBoC) and government organs…

Binance to prevent Chinese yuan OTCs and restrict gain access to inside China
Binance Chinese

Binance to prevent Chinese yuan OTCs and restrict gain access to inside China

Binance has been limiting its services and products across the globe, and China is the latest. The exchange announced on Wednesday that it would halt its peer-to-peer trading service in China by the end of the year, finally exiting a market that it has been withdrawing from partially for years.  The Chinese digital currency market…

Chinese Companies Exiting Mainland as Crypto Crackdown Bites
Chinese Firms

Chinese Companies Exiting Mainland as Crypto Crackdown Bites

Source: AdobeStock/wittybearChinese crypto companies are exiting the country in droves after finally admitting defeat in their struggle against a regulatory storm. Many had spent the past few years attempting to rebrand themselves in Mainland China as purveyors of “blockchain”-related business and educational providers. But it appears the pressure of the nation’s latest crypto crackdown may…