China’s central bank reports that it is “progressing smoothly” with its development of a government-backed digital currency. China’s central bank, the People’s Bank of China (PBoC), reports that it is “progressing smoothly” with its development of a government-backed digital currency. The bank issued its statement during a working conference held in Beijing from Jan. 2–3,…
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China’s National Intellectual Property Administration is further streamlining the rules in regard to the guidelines of blockchain patent applications. The National Intellectual Property Administration (NIPA) in China continues to clarify the guidelines for blockchain patent applications, which are set to become effective as of Feb. 1. At the end of December 2019, the NIPA announced…
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An overview of the stances of China, Russia, India and the developing world toward crypto regulation in 2019. This is the second part of a three-part series that covers the regulatory landscape for digital currencies in 2019 and looks at the prospects of 2020. While the first chapter in the series looked at the “Insiders,”…
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The non-profit organization Hong Kong Institute of Bankers has onboarded six virtual banks as corporate members. The Hong Kong Institute of Bankers (HKIB) has onboarded six virtual banks as corporate members, according to a Jan. 2 press release. The HKIB is a non-profit institution that provides training and certification to the banking organizations in Hong…
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The U.S. could possibly lose the digital war to China if it doesn’t issue a digital dollar ahead of the digital yuan. In recent weeks, various central banks have indicated that they are exploring the possibility of issuing their own central bank digital currency, or CBDC. From Tunisia, which was at the center of false…
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Rules governing crypto password storage aim to prepare the economy for the arrival of the world’s first central bank digital currency, currently in testing. China has formally implemented a law governing cryptographic password management as part of its pre-release plans for its central bank digital currency (CBDC). As English-language news media outlet China Money Network…
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Chinese President Xi publicly supports blockchain development in the country. The first blockchain industrial park was opened in Shanghai’s Baoshan District in November 2016 with the goal of not only developing blockchain technology for government-related work, but also for connecting the technology with finance, insurance, real estate, intellectual property and other industries. Shortly after the…
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Bitcoin mining farms in the Chinese province of Sichuan are under pressure from local authorities to scale down operations due to electricity shortages. Bitcoin (BTC) miners in the Chinese province of Sichuan are reportedly under pressurelocal authorities to scale down their operations due to electricity shortages. On Dec. 29, the Asia Times reported that during…
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An application for a blockchain-focused ETF has been filed with China’s securities regulator, according to a disclosure from the China Securities Regulatory Commission. An application for a blockchain-focused exchange-traded-fund (ETF) has been filed with China’s securities regulator, according to a disclosure from the China Securities Regulatory Commission. The proposal, filed on Dec. 24 by Shenzhen-based…
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China has waged war on domestic cryptocurrency trading activities since 2017. Here is how the approach changed in 2019. While China has waged war on domestic cryptocurrency trading activities since 2017, this year saw it tighten the screws as hype around crypto’s underlying blockchain technology renewed interest in digital assets. Below is a summary of…
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