Category: China

IIF Report Predicts Global Debt Will Reach New All-Time High of $257T in 2020

IIF Report Predicts Global Debt Will Reach New All-Time High of $257T in 2020Global debt records were broken in 2019, but that likely won’t be the end of such ominous economic milestones, the Institute of International Finance (IIF) predicts. The number could reach $257 trillion sometime in Q1 2020, according to a recent report by the group. Economies worldwide are struggling to address pressing issues such as stimulation […]

The post IIF Report Predicts Global Debt Will Reach New All-Time High of $257T in 2020 appeared first on Bitcoin News.

Continue Reading

China Issues Digital Currency Guide for Party Cadres

China Issues Digital Currency Guide for Party CadresUnderstanding a complex subject should be easier with access to educational materials. With blockchain and CBDC now part of Beijing’s political vocabulary, the Communist Party of China (CPC) has issued a guide to digital currencies meant to prepare party officials for upcoming changes in the country’s financial system. Also read: China Saw $11.4 Billion in […]

The post China Issues Digital Currency Guide for Party Cadres appeared first on Bitcoin News.

Continue Reading

China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year

China Saw $11.4 Billion in Crypto-Based 'Capital Flight' Transactions Last YearOn January 8, China-based blockchain security firm Peckshield published its “2019 Global Digital Asset AML Research Report” noting a variety of crypto trends throughout the year. According to the study, cryptocurrency-based capital flight stemming from China was around $11.4 billion in 2019. Peckshield’s research recorded a number of illegal or otherwise unregulated transactions over the […]

The post China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year appeared first on Bitcoin News.

Continue Reading

US and European Regulators Say Crypto a Priority This Year

US and European Regulators Say Crypto a Priority This YearSeveral regulators in the U.S. and Europe have made cryptocurrency among their top priorities this year. The Securities and Exchange Commission’s compliance office and the European Securities and Markets Authority, in collaboration with other regulators, have outlined their plans to focus on crypto oversight. Further, China’s central bank has made digital currency a priority. Also […]

The post US and European Regulators Say Crypto a Priority This Year appeared first on Bitcoin News.

Continue Reading

Mining Report Highlights China’s ASIC Manufacturing Improvements and Dominance

During the first month of the new year, the research firm Tokeninsight published its “Mining Industry Annual Research Report,” which covers the competitive bitcoin mining sector. Tokeninsight’s study highlights the fact that BTC’s hashrate increased by 80% in 2019, even though BTC’s year-over-year average price dipped by 1.9%. Tokeninsight’s report also notes that more than […]

The post Mining Report Highlights China’s ASIC Manufacturing Improvements and Dominance appeared first on Bitcoin News.

Continue Reading

Mining Giant Canaan Faces Stiff Competition After IPO Shares Slump

Mining Giant Canaan Faces Stiff Competition After IPO Shares SlumpOn November 21, the Chinese mining rig manufacturer Canaan Inc. launched its initial public offering (IPO) sale of $90 million worth of U.S. shares. Canaan shares initially sold for $8.99, but plummeted over 48% on December 16 to $4.65 per share. Since then, Canaan has launched a series of five new mining rig batches that […]

The post Mining Giant Canaan Faces Stiff Competition After IPO Shares Slump appeared first on Bitcoin News.

Continue Reading

Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns

Low Interest Rates Provide Precarious Protection Against Crisis, World Bank WarnsThe latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not be sufficient to avoid the next meltdown. Also read: […]

The post Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns appeared first on Bitcoin News.

Continue Reading

Bitmain Responds to Layoff Rumors From Ousted Co-Founder Zahn

Bitmain Responds to Talk of Layoffs Mentioned by Ousted Co-Founder ZahnOusted Bitmain co-founder Micree Zahn took to Weibo on Monday to speak out against a reported Bitmain “personnel optimization plan” which could purportedly see around 500 Bitmain workers dismissed by January 17. Chinese media broke the story last week citing inside sources at the bitcoin mining colossus, one of which claimed poor financial performance of […]

The post Bitmain Responds to Layoff Rumors From Ousted Co-Founder Zahn appeared first on Bitcoin News.

Continue Reading

Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, India’s National Blockchain Seminar

Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, India's National Blockchain SeminarIn this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws, South Korea’s tax clarification, India’s blockchain education, the IMF working with the Philippines’ central bank, as well as crypto regulatory developments in Turkey and Qatar. […]

The post Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, India’s National Blockchain Seminar appeared first on Bitcoin News.

Continue Reading

33,000 Companies in China Claim to Use Blockchain Technology

33,000 Companies in China Claim to Use Blockchain TechnologyChina now has more than 33,000 registered companies claiming to use blockchain technology in their businesses, according to the country’s Center for Information and Industry Development. The information was released at a recent blockchain conference hosted by a Chinese municipal government and several state-backed research institutes. Also read: Regs Roundup – China Blockchain ETF, New […]

The post 33,000 Companies in China Claim to Use Blockchain Technology appeared first on Bitcoin News.

Continue Reading

BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed

BTC's Hashrate Touches 120 Exahash, But the Price Has Not FollowedOn January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. BTC’s curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower. […]

The post BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed appeared first on Bitcoin News.

Continue Reading

China Takes Another Step Away From USD Hegemony

China Takes Another Step Away From USD HegemonyThe China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation […]

The post China Takes Another Step Away From USD Hegemony appeared first on Bitcoin News.

Continue Reading

Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia

Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in RussiaIn this roundup, we cover Russia’s supreme court recognizing tokens as assets like money and property, France’s new crypto regulatory framework, and several industry developments in China, including a blockchain ETF filing. We also cover Japan’s world conference for decentralized financial governance, Uzbekistan’s crypto ban, and four countries’ central bank digital currency updates. Also read: […]

The post Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia appeared first on Bitcoin News.

Continue Reading

Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season

Authorities in Sichuan Go After Miners to Save Electricity in the Dry SeasonRegional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also […]

The post Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season appeared first on Bitcoin News.

Continue Reading

4 Beijing Regulators Issue New Crypto Activity Warning

4 Beijing Regulators Issue New Crypto Activity WarningFour financial regulators in China have jointly issued a fresh warning regarding crypto trading activities in Beijing. The notice explains the reason for the warning and lists prohibited crypto activities, which have reportedly been surging as companies ramp up their blockchain promotion. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, […]

The post 4 Beijing Regulators Issue New Crypto Activity Warning appeared first on Bitcoin News.

Continue Reading

Shenzhen Stock Exchange Launches Index of Top 50 Blockchain Public Companies

Shenzhen Stock Exchange Launches Index of Top 50 Blockchain Public CompaniesThe Shenzhen Stock Exchange has launched a blockchain index comprising 50 of the largest publicly listed companies with blockchain ventures by market capitalization. Blockchain-related stocks in China have been gaining value since President Xi Jinping openly advocated for the technology. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto […]

The post Shenzhen Stock Exchange Launches Index of Top 50 Blockchain Public Companies appeared first on Bitcoin News.

Continue Reading

Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers

Chinese Police Seize Thousands of Miners, Arrest Dozens of ScammersIn the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud. Also Read: Chinese Regulators Question 8 Crypto Companies in Shenzhen Police Seize […]

The post Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers appeared first on Bitcoin News.

Continue Reading

Regulatory Roundup: New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto

Regulatory Roundup: New US Crypto Bill, France's 1st Approved ICO, Muslim CryptoIn this roundup, we cover a wide range of regulatory developments in the crypto space. Much has transpired in the U.S., including a new crypto bill, SEC’s proposal, lawmakers seeking answers from the IRS, and the state of Michigan signing several crypto bills into law. We also cover France’s first-approved initial coin offering, a proposal […]

The post Regulatory Roundup: New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto appeared first on Bitcoin News.

Continue Reading

PBOC Official: China’s Digital Yuan Won’t Be a Speculative Currency Like Bitcoin

PBoC Official: China’s Digital Yuan Won’t Be a Speculative Currency Like BitcoinAccording to recent statements by People’s Bank of China (PBOC) official Mu Changchun, the country’s digital yuan is ready for trials. The central bank digital currency (CBDC) will decidedly not be a speculative asset like bitcoin or stablecoins, and will not need a currency basket for backing, Changchun affirmed. Reactions to the announcement are varied, […]

The post PBOC Official: China’s Digital Yuan Won’t Be a Speculative Currency Like Bitcoin appeared first on Bitcoin News.

Continue Reading

Bybit CEO Ben Zhou on Crypto Derivatives and Market Predictions for 2020

Bybit CEO Ben Zhou Talks Derivatives and Crypto Predictions for 202012 months ago, crypto derivatives platform Bybit officially launched. The Singapore exchange, which also has offices in Hong Kong and Taiwan, has enjoyed a fruitful first year, attracting users from North America, Europe, Russia and Asia. With products including BTC, ETH, XRP and EOS perpetual contracts, and a matching engine capable of handling 100,000 tps, […]

The post Bybit CEO Ben Zhou on Crypto Derivatives and Market Predictions for 2020 appeared first on Bitcoin News.

Continue Reading

By continuing to use the site, you agree to the use of cookies. more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close