Huobi Group Sets Up Communist Party Committee in Beijing

Huobi Group Sets Up Communist Party Committee in Beijing

As part of its desire to forge deeper ties with the Chinese government, Huobi Group, the parent company of digital asset platform Huobi, has formed a Communist Party committee in China, according to an announcement by the company. The new branch was established by a Huobi subsidiary, Beijing Lianhuo Information Service, and will reside in the Haidian District of the municipality of Beijing.

Chinese School Principal Fired Over Illegally Mining Ethereum

It is not uncommon for students to get crafty when they aim to mine cryptocurrencies. Some use the “free” electricity of their dorm to mine Ethereum and other altcoins. In China, one entire school seemingly had a secret Ethereum mining operation going for quite some time. Cheap electricity sparks a lot of interesting, albeit not always legitimate, business models moving forward. Cryptocurrency Mining in China Remains Popular No one will deny China has always been an awkward country when it comes to Bitcoin and other cryptocurrencies.
Distributed Dialogues: Political Censorship in China

Distributed Dialogues: Political Censorship in China

On the latest episode of Season 2 of Distributed Dialogues, the hosts took a deep dive into the state of political repression in the People’s Republic of China.

Chinese City Aims to Replace Street Lights With an Artificial Moon

China is one of the more interesting regions to keep an eye on when it comes to innovative technological projects. One of the most recent ventures focuses on replacing street lights with a miniature moon. This will be achieved through a so-called illumination satellite, which should be put in orbit by 2020. An Artificial Moon to Illuminate Streets There is a case to be made for the project envisioned by Chengdu city officials.
Crypto is Property: Chinese Court Upholds Citizens Rights to Own Bitcoin

Crypto is Property: Chinese Court Upholds Citizens Rights to Own Bitcoin

The Shenzhen Court of International Arbitration (SCIA) has recently affirmed that cryptocurrencies, specifically bitcoin and several of its hard forks, are considered legal property and Chinese citizens have a right to own and transfer them. The SCIA recently published an analysis of a contract dispute over WeChat, describing the legal proceedings of a case in which one individual managed nearly $500,000 worth of crypto assets on behalf of another private individual.
Poloniex Revised Terms of Use, Shutters Services in Several Countries

Poloniex Revised Terms of Use, Shutters Services in Several Countries

With a revision to the popular exchange’s terms of use, users from a handful of jurisdictions will have their access to Poloniex shuttered. According to an October 18, 2018, update, “the websites and the services offered by Poloniex (as defined below) are NOT addressed to persons who have their registered office or place of residence in China, Germany, Pakistan, the U.

China’s Stricter Regulatory Stance on ICOs Signal Caution, Not Calamity

On February 4, 2018, at 10:10 p.m. China Standard Time, Financialnews, a rather small news agency under the administration of China’s central bank, the People’s Bank of China (PBOC), released an article that explicitly stated that “China will continue to watch virtual currency and activities related to it closely, and will take actions including shutting down commercial presences and exchanges within China’s territory to uphold China’s financial stability.

Sora Foundation Wants to Build a Better Blockchain Community in Asia

Ask most, and you’ll hear the opinion that Asia is a minefield when it comes to cryptocurrency. The mere mention of regulatory action on the already-volatile markets sends the price of bitcoin (and consequently altcoins) into a nosedive.

Cryptocurrency’s Red Tuesday Firesale Leaves Everyone Speculating

The cryptocurrency sky fell yesterday as 49 of the top 50 coins (by Market Cap) were down with only Tether (USDT) posting a gain.

Bad News Bears: Cryptocurrency Stories of 2017 That Brought Us Down

2017 has seen its spate of both good and bad stories for all sides of the cryptocurrency space. Whether you believe in dutch tulips or you worship at the altar of Satoshi Nakamoto, there were reaffirming and disheartening stories for evcxzxeryone. Below are five of the stories that darkened an otherwise positive year for the industry. Segwit2x vs.

Our Top 5 Bitcoin “Good News” Stories of 2017

When the history of Bitcoin and blockchains is written, 2017 will be the year tagged as the “turning point” when Bitcoin and “red hot” blockchain technology went mainstream. The steadily rising bitcoin price and market cap is a key, though not the only, indicator that a tipping point has been reached.

Indian Central Bank’s Bitcoin Warning: A Sign of Fear?

On December 5, the Reserve Bank of India (RBI), the country’s central bank, cautioned investors of bitcoin, clarifying that the government is yet to regulate bitcoin and cryptocurrency exchanges within the local market.

Bitcoin Price to Reach $60,000 Before Crashing to $1,000 in 2018 is Saxo Bank’s ‘Outrageous’ Prediction

“Bitcoin is thrown to the wolves,” the headline reads, punctuating the tail end of Saxo Bank’s prediction that the bitcoin price will soar above $60,000 in 2018 before crashing more than 98 percent to “its fundamental ‘production cost’ of $1,000.

China’s Central Bank Believes Bitcoin will be Dead in a River

A People’s Bank of China (PBoC) official has stated that he thinks bitcoin will end up floating down a river as a dead body.

China was Right to Shut Down Bitcoin Exchanges & ICOs: PBoC Official

A vice governor of China’s central bank has doubled down on the regulator’s sweeping ban on ICOs in September that also led to the shuttering of local bitcoin exchanges.

Chinese Bitcoin Miners Ponder Operations Overseas amid Potential Ban

Recently, various reports have been suggesting that China’s crackdown on cryptocurrencies will extend to mining, as state-run Sichuan Electric Power Corporation reportedly distributed a circular ordering grid-connected hydropower stations to stop supplying low-cost electricity to bitcoin mining operations. As reported by CCN, the report has been debunked as the company admitted it made several mistakes, including using unverified claims, on its circular.

Bitcoin Mining in China is Not Banned Yet, Contrary to Reports

Throughout this week, false reports regarding the legality of bitcoin and cryptocurrency mining have emerged. Local sources have revealed that bitcoin mining is not banned as of yet. Unconfirmed Reports and Rumors Initially, Sichuan Electric Power Company, released an unconfirmed circular which claimed that the use of electricity to produce and mine bitcoin is illegal. Caijing, an independent news publication based in Beijing, first reported on the circular released by Sichuan Electric Power Company, and more media outlets followed.

China Bitcoin Crackdown to Extend to Low-Cost Mining Ban: Report

China’s Sichuan province is gearing up to extend its bitcoin ban to mining operations as part of its wider crackdown on the cryptocurrency industry. According to local media outlet Tencent Finance, the state-run Sichuan Electric Power Corporation has distributed a circular ordering grid-connected hydropower stations to stop supplying low-cost electricity to bitcoin mining operations. Because mining has become so competitive, few ordinary bitcoin users can make a profit mining the cryptocurrency.
Mainstream Sitcom Big Bang Theory Will Dedicate Entire Episode on Bitcoin

Mainstream Sitcom Big Bang Theory Will Dedicate Entire Episode on Bitcoin

The Big Bang Theory, one of the most popular sitcoms in history with 17 million average viewers for its latest season 11, will dedicate an entire episode on bitcoin. Episode 9 of the Big Bang Theory season 11, which will air on November 30, 2017, is entitled “The Bitcoin Entanglement,” and analysts expect the show to introduce bitcoin to the mainstream, to an important consumer base for bitcoin. The Big Bang Theory is most watched amongst viewers in the age group of 19 to 35, which is a relatively young viewership for a popular sitcom.

‘Crucial’ to Issue Central Bank Cryptocurrency ASAP, Says PBoC Research Lead

The lead researcher at China’s central bank has claimed that a central bank cryptocurrency should be developed and issued at the earliest in the country. According to statements reported by the South China Morning Post, People’s Bank of China (PBoC) lead researcher Yao Qian has expressed the immediate need for the central bank to develop and issue its own cryptocurrency as a means toward bolstering China’s digital economy.

China and Australia Unite in Fintech Pact, Despite ICO Differences

The national securities regulators of China and Australia have entered an agreement to share information to promote FinTech innovation in each other’s markets. The Australian Securities and Investment Commission (ASIC) and China Securities Regulatory Commission (CSRC) have inked a FinTech cooperation agreement that will see the two authorities share and use information on emerging market trends and developments to promote innovation in financial technologies with each other’s markets.

China’s Bitcoin Curtain Call a ‘Watershed Moment’, Says Huobi Founder

As Chinese bitcoin exchange Huobi suspends local CNY trading today, the ‘big three’ trading platform is looking at pastures beyond China. In an announcement, Huobi founder Leon Li laid out the company’s future vision as the exchange implements “full cessation of all digital assets” trading against the yuan today. Li wrote: I believe that this is not only a milestone for Huobi, but also a watershed in the history of Chinese digital assets and even a memorable day in the development of global digital assets.

Is China Planning to Resume Bitcoin and Cryptocurrency Trading Soon?

CNLedger, a trusted news source within the Chinese cryptocurrency industry, has revealed that OKEX will soon launch peer-to-peer (P2P) over-the-counter (OTC) bitcoin-to-fiat trading platform. “More OkEx (and likely, Huobi-Pro) will soon launch P2P bitcoin tradings with various fiat currency support,” CNLedger reported.
Bitcoin Price Achieves New All-Time High at $6,345; Factors For Surge

Bitcoin Price Achieves New All-Time High at $6,345; Factors For Surge

Earlier today, on October 30, the bitcoin price has achieved a new all-time high at $6,345, as the market continues to demonstrate optimism towards bitcoin ETFs, the possibility of China resuming cryptocurrency trading, South Korea’s regulation of bitcoin, and bitcoin hard forks. Major Factors For Recent Bitcoin Price Surge The recent price surge of bitcoin from $5,800 to $6,345 can be attributed to a wide range of factors including the high probability of bitcoin ETF approval and China resuming cryptocurrency trading later this year.
What Would Happen if Singapore Regulates Bitcoin?

What Would Happen if Singapore Regulates Bitcoin?

At a conference, Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), the country’s central bank, stated that the country does not intend to regulate bitcoin and the cryptocurrency market in the short-term. In essence, Menon shared the same sentiment as European Central Bank (ECB) President Mario Draghi, who as CCN reported, explained that the ECB is not planning regulatory frameworks for the cryptocurrency market as of yet.