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A regional high court in China’s Northern Shandong province’s high court said yesterday that crypto trades or investments are not “protected by law,” after reviewing a case involving the asset class, a report on SCMP stated.
The co-founder and former CEO of crypto exchange BTCC, Bobby Lee, said Beijing could move to ban Bitcoin entirely.
Meitu, a software tech company based in Hong Kong, has said that it recorded a loss of $17.3 million on its Bitcoin portfolios, while in contrast, it recorded a $14.7 million gain on its Ethereum investment.
In a recent interview, Galaxy Digital CEO Mike Novogratz said Bitcoin had shown resilience in the face of FUD coming out of China.
The latest crackdown has compelled many bitcoiners to scramble for the exits, leaving their diamond-handed counterparts to issue witticisms that underline the former’s shaky resolve.
Bitcoin miners were dealt a blow in May as the Financial Stability and Development Committee of the State Council of China announced further controls on financial risk.
The Agricultural Bank of China (ABC) published a Bitcoin (BTC) ban announcement, restating its services must not be used for cryptocurrency-related transactions and activities, only to delete it within minutes, pause for a few hours, and then publish the ban all over again.
Some of China’s storied Bitcoin miners are planning to use more renewable energy sources to power their expansive mining rigs, local outlet CGTN said today.
Chinese police busted a network of more than 170 criminal groups as they arrested 1,100 suspects involved in money laundering by buying cryptocurrencies, security officials said in a statement.
Bitcoin miners in China’s Sichuan province can continue their operations until September this year, local tech publication TechNode reported today.
China’s Hainan province issued a fresh warning about illegal crypto schemes yesterday, adding to what is an ongoing campaign against the growth of the industry in the region.
CCTV-13, a TV channel that is part of the state-controlled China Central Television (CCTV) network, aired a new report today, highlighting how easy malicious actors can create fraudulent tokens and sell them on decentralized finance (DeFi) platforms such as Uniswap.
Chinese online brokerages Tiger Brokers and Futu plan to bolster crypto trading services, taking on global players Robinhood and eToro, as per a report in the South China Morning Post today.
Millionaires in China are turning to over-the-counter services to trade and buy Bitcoin and other cryptocurrencies even as the local government says it would crackdown on the sector, as per a report on business outlet Bloomberg today.
Following the Bitcoin mining debacle that originated from China earlier this week, Xinhua News, the official state-run press agency of the People’s Republic of China, published a new article today, highlighting the risks of cryptocurrency trading.
Jiang Zhuoer, the operator of major Chinese mining pool Lebit Mining, argued that the latest crackdown on crypto in the country would likely lead to miners relocating their activity to Europe and the United States, as pointed out by journalist Colin Wu.
An anonymous user apparently not only predicted yesterday’s massive sell-off on the crypto market but also claimed that it was an organized China-related campaign aimed at a single “stakeholder”—half a day before the trading carnage actually began. Of course, the following should be taken with a giant grain of salt.
Stocks of Chinese publicly listed companies fell sharply today after cryptocurrencies like Bitcoin, Ethereum, and others plunged massively on Wednesday, data from multiple sources shows.
Nervos, a China-based blockchain and decentralized finance (DeFi) protocol, today announced the launch of a $50 million fund with CMB International (CMBI), a wholly-owned subsidiary of China Merchants Bank, as per a release.