Latest News on CHINA

Regulation

Binance Accused by Chinese State Media of Operating Cryptocurrency Exchange in China

Chinese state media has reported that Binance is still supporting local users trading cryptocurrency, despite China banning all exchanges in 2017.

Lucas Cacioli

Jun 10, 2020

| 2 Min Read

#BINANCE #CCTV #CHINA #CRYPTOCURRENCY #EXCHANGE #P2P #OTC #BAN #ALIPAY

Enterprise

China's Tencent Forms Alliance to Boost Blockchain Development in the Country

China remains a pacesetter in the technological landscape. The Chinese government as well as Chinese companies are all in tandem with the fight to push for a whole new world of technological dominance. This developmental posture is also true of Tencent, one of China’s technologically focused firms that announced it has formed an industrial alliance that will help promote the development of blockchain technology. The alliance is set to recruit 100 members before the end of the year to create room for wider representation.

Godfrey Benjamin

Jun 08, 2020

| 2 Min Read

#BLOCKCHAIN TECHNOLOGY #TENCENT #ETHEREUM ENTERPRISE ALLIANCE #CHINA

Asia

Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain

China Zheshang Bank, based in Zhejiang province has leveraged blockchain technology to issue the country’s first asset-backed commercial paper in the Chinese financial market. China Zheshang Bank successfully issued the “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” which was worth 120 billion yuan ($16.93 billion). The asset-backed commercial paper (ABCP) was issued as a part of the National Association of Financial Market Institutional Investors’ (NAFMII) pilot project. ABCPs are short-term investments issued by financial institutions to support companies in their short-term goals.

Sarah Tran

Jun 08, 2020

| 2 Min Read

#CHINA #ABCP #TECHNOLOGY #ZHESHANG BANK #CHINESE ECONOMY #CORONAVIRUS

Asia

Head of Chinese Investment Firm Believes Blockchain will "Lead" China's Economy, Here's Why

China’s blockchain push seems never-ending, various governmental and financial officials of the country have, in recent times, spoken on the merits of blockchain technology and how a distributed ecosystem may help bolster the ongoing “fourth industrial revolution.”

Shaurya Malwa

Jun 08, 2020

| 2 Min Read

#BLOCKCHAIN #CHINA #DEVELOPMENT #DIGITAL #GLOBALIZATION

Asia

China Plans to Incorporate Blockchain in Attempt for Hainan to Overtake Hong Kong on International Trade

The Chinese government is planning to make the province of Hainan into a free trade port, focusing on facilitating free trade, investment, and cross-border capital flows. The plan encourages government institutions to use blockchain and other emerging technologies to improve government functions. The government’s plan has mentioned blockchain technology consistently, as it could have the potential to be used in social governance, as well as protecting data systems including intellectual property rights.

Sarah Tran

Jun 03, 2020

| 3 Min Read

#CHINA #BLOCKCHAIN #GOVERNMENT #HAINAN #HONG KONG #TECHNOLOGY

Mining

Bitcoin Educator Andreas Antonopolous Believes Oil Price Crash Gives US Bitcoin Miners an Advantage

Following the oil market crash in April, electricity prices have continued to fall globally. Bitcoin educator Andreas Antonopoulos believes that despite the disruption to industries, the oil market downturn could give US cryptocurrency miners an advantage.

Lucas Cacioli

Jun 01, 2020

| 2 Min Read

#OIL #BITCOIN #UNITED STATES #CHINA #POW #ELECTRICITY #MINING #PETROLEUM #ECONOMY

Enterprise

Alibaba to Bring Blockchain Technology to Chinese Shipping Ports

China is tapping into the potential of blockchain technology like none other; the country’s entrepreneurs and local governments alike have already started implementing blockchain-based projects while most of the globe grapples with legality issues.

Shaurya Malwa

Jun 01, 2020

| 2 Min Read

#BLOCKCHAIN #ALIBABA #CHINA #ANT FINANCIAL #SHIPPING

Technology

VeChain and Bayer China Team up for Blockchain-based Healthcare Project, Here’s What it Means for China

Pharmaceutical giant Bayer is now working with Chinese crypto project VeChain on a blockchain-based medical traceability and supply chain program.

Shaurya Malwa

May 29, 2020

| 2 Min Read

#BLOCKCHAIN #VECHAIN #CHINA #HEALTHCARE #BAYER #SUPPLY CHAIN #LOGISTICS

Regulation

China Passes Civil Code Which Will Allow its Citizens to Inherit Cryptocurrency

At the Thirteenth National People’s Congress held in Beijing China, the parliament passed a new civil code that protects the civil rights of inheritance, marriage, property, personality, and contract infringement. According to Lixin Yang, a professor at Renmin University of China, the civil code states that “When a natural person dies, the legacy is the personal legal property left by she/he.” Personal legal property in this case also means “internet property” including virtual currencies. Chinese citizens will be able to leave their cryptocurrency and virtual assets to their heirs, coming into effect on January 1, 2021.

Sarah Tran

May 29, 2020

| 2 Min Read

#CHINA #CIVIL CODE #CHINESE LAW #NPC #NATIONAL PEOPLE'S CONGRESS #DOVEY WAN #HONG KONG #ASIA

Altcoins

Ripple CEO Urges US Regulators to Embrace Crypto as Country Risks Falling Behind China

CEO of Ripple, Brad Garlinghouse, has disclosed how China has taken the lead in blockchain and crypto as the US risks losing out.

Nicholas Otieno

May 28, 2020

| 3 Min Read

#BLOCKCHAIN #CRYPTOCURRENCY #DIGITAL CURRENCIES #RIPPLE CEO #US REGULATORS #US #CHINA

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