WeChat Pay stores payment receipts on the blockchain, says Binance CEO. Binance CEO Changpeng Zhao (CZ) took to Twitter on Oct. 25, saying that he had “got word” that WeChat Pay puts receipts on the blockchain, along with a screengrab of a receipt with a link to a block explorer. Why does CZ care so…
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During the Congressional hearing on Oct. 23, Mark Zuckerberg touched upon the potential threat of China’s digital currency. Facebook CEO Mark Zuckerberg testified before the United States House of Representatives Financial Services Committee today regarding the Libra stablecoin project. Facebook’s Libra vs. China’s digital renminbi During the much-anticipated hearings before Congress on Oct. 23, lawmakers…
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The Cyberspace Administration of China adds 309 more companies to its list of registered blockchain service providers. The Cyberspace Administration of China, the country’s central Internet regulator, censor, oversight and control agency, has published its second list of registered blockchain service providers. The new batch comprises 309 companies that are representatives of various industries, including…
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Alipay denies providing support for Bitcoin trading amid reports of Binance accepting fiat deposits via popular payment channels. Earlier in October 2019, Binance announced a fiat on-ramp for crypto trading via Chinese payment services Alipay and WeChat. This move was part of the exchange giant’s peer-to-peer (P2P) trading rollout for Bitcoin (BTC), Ether (ETH) and Tether…
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The Federal Reserve’s Lael Brainard says Libra could pose risks to consumers due to ambiguity over their rights. A member of the Federal Reserve’s Board of Governors has said that Facebook’s Libra could pose risks to consumers due to a lack of clarity over their rights with respect to the token’s underlying assets and to…
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A now-viral post by a Chinese cryptocurrency trader has highlighted the stark drop in the price of American sneaker-backed tokens in the wake of the NBA-China fallout. A now-viral post by a Chinese cryptocurrency trader has highlighted the stark drop in the price of American sneaker-backed tokens in the wake of the fallout between the…
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RBC analysts believe that China’s digital currency might become the dominant digital currency if U.S. regulators dismiss Facebook’s Libra coin. Analysts at RBC Capital Markets have suggested that stifling Facebook’s Libra may leave the field open to China’s central bank digital currency (CBDC) to dominate in emerging economies. China shifts development of digital currency in…
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Crypto price premiums are a thing! Which countries suffer the most and how big is the difference in price for a Bitcoin? Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin. At the 2017 peak, when the Bitcoin price was trading at around $20,000 in…
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“Hurun China Rich List 2019” published by Hurun Report, a research, media and investments firm, features 12 local crypto magnates. “Hurun China Rich List 2019” published by Hurun Report, a research, media and investments firm, features 12 local cryptocurrency magnates. The latest list was published on Oct. 10 and includes co-founders of mining giant Bitmain…
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One of China’s big four banks has released the second version of its blockchain trading platform following transactions exceeding $50 billion. The China Construction Bank (CCB) officially released the second version of its blockchain trading platform, which reached 360 billion yuan ($50 billion) in cumulative transaction volume. CCB will actively promote blockchain platform On Oct.…
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