The price of bitcoin (BTC) and US stock futures are largely unmoved today after the expected news broke that Chinese property development giant Evergrande for the first time has failed to pay off a US dollar-denominated debt obligation…. Read More: Bitcoin, Stocks Largely Unmoved as China Evergrande is Declared in Default Read more »Pay,…
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Fresh panic over Evergrande appears to have a limited impact on cryptocurrency markets. Bitcoin (BTC) kept $50,000 as a focus on Dec. 9 as consolidation on BTC/USD continued to avoid last week’s lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin “appears on track” Data from Cointelegraph Markets Pro and TradingView showed the pair acting within…
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A high-flying regional Communist Party official who was expelled from the party last month for allegedly supporting crypto miners has been arrested. Meanwhile, individuals are being caught sending money abroad using crypto. Per the Epoch Times and the Xinhua news agency, Xiao Yi, the former Vice Chairman of the Jiangxi Provincial Committee of the…
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Digital asset exchange Huobi Global has revealed its intention to exit the Chinese Market. The crypto trading platform with Chinese roots said it will stop processing transactions for existing users on the mainland by the end of the year. Huobi Global Halts Services in the People’s Republic Crypto exchange Huobi Global is going to discontinue…
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BTC and altcoins took a beating over the weekend, but data shows a market with healthier trading conditions, even if prices consolidate for the foreseeable future. Looking at the winners and losers of the past week clearly shows that traders endured some serious heat as the total crypto market capitalization dropped by 12.7% when Bitcoin…
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The province of Hainan in South China has taken steps aimed at curbing crypto mining activities. Besides blacklisting the industry, local authorities are also introducing higher electricity rates for the mining enterprises that continue to operate in the region. Hainan to Ensure Crypto Miners Pay More for Power The ongoing crackdown on cryptocurrency mining in…
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Having 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…. Read More: Chinese Crypto Mining Crackdown Turns…
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Chinese crypto media are reportedly keeping a low profile on their websites and are focusing on growing communities on Twitter and Telegram. While some major Chinese cryptocurrency-related publications seem to be shutting down, a number of local news agencies continue running by moving to social media like Twitter. China’s most recent crypto ban would not…
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The CEO of the Japanese financial heavyweight and crypto player SBI Holdings Yoshitaka Kitao has spoken out about central bank digital currencies (CBDCs) – and says China is currently leading the world in digital fiat technology. Kitao was quoted by the domestic media outlet Dime as stating: “China is the most advanced nation in the field…
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The 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 People’s Bank…
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