Bitcoin 

Binance Venus Aims to Outshine Libra and Chinese National Crypto?

Within the past 12 months, stablecoins have transformed from a niche idea to tackle the issues of a volatile market into methods of payment championed by some of the world’s biggest and most powerful tech companies.  Facebook’s announcement that it would be supporting the launch of a reserve-backed stablecoin played a vital role in turning around the so-called “crypto winter” by boosting Bitcoin (BTC) prices above $10,000 for the first time in over two years. Since then, the world’s number one cryptocurrency exchange, Binance, has thrown its hat into the…

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Bitcoin 

Chinese Mining Giant Becomes ‘First’ To File US IPO: Unconfirmed Report

Chinese Bitcoin mining giant Canaan Creative has allegedly filed a $200 million initial public offering (IPO) request with United States regulators.  Report: Canaan ‘beats Bitmain’ to IPO filing That was according to a report which appeared on local social media platform WeChat on July 31, which claimed the application was already sitting before the U.S. Securities and Exchange Commission (SEC).  Despite being less known in the West than its competitors such as Bitmain, Canaan is one of the three main Chinese Bitcoin mining players, the third being Yibang International. While…

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Blockchain 

Chinese Alcohol Wholesaler Testing Anti-Counterfeiting Blockchain Solution

Oranco, a Chinese alcohol wholesaler and marketer that specializes in Fenjiu liquor and imported wines, is currently testing a blockchain solution to guarantee the authenticity of its products. According to a press release on July 26, Oranco subsidiary Fengyuang Huaxin Liquor Development partnered with the blockchain- focused company Guangzhou Silicon Technology (GSTC) almost one year ago. The two companies agreed to co-develop a solution for identifying Oranco’s beverages as genuine. The solution reportedly features proprietary anti-counterfeiting laser recognition, along with blockchain technology as a means to track and certify the…

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Ethereum 

Chinese Company The9 Said to Be First Foreign Telegram ICO Investor

According to a filing with the United States Securities and Exchange Commission, the Chinese company The9 Ltd bought 5,297,257 tokens during a Telegram initial token offering in January 2018 for $2 million dollars. The filing also states that The9 has invested in multiple blockchain-based companies as of 2018.  According to a report by Russian business news agency RBC on July 24, this document is evidence of The9 as the first publicly-known foreign investor. Per RBC, Telegram’s initial coin offering (ICO) investors are largely unknown.  During the first ICO, 81 investors…

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Ethereum 

Bitcoin Is Property, Chinese Court Rules — No Crypto Ban Contradiction

Last week, Bitcoin (BTC) was legally recognized by a Chinese court, whereby it was concluded that the cryptocurrency should now be considered as digital property. The decision that the Hangzhou Internet Court made in a ruling was met with enthusiasm from some community members, who assumed that Bitcoin is now legal in the People’s Republic of China (PRC) — famously one of the harshest jurisdictions for digital currencies in the world — and that the local government might soon ease its pressure on Bitcoin. However, some experts are less confident…

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Ethereum 

Vanuatu Extradicts Six Chinese Citizens Allegedly Involved in Crypto Scheme

Vanuatu, a Pacific Island country, has extradited six Chinese citizens to the mainland, according to a report by Odaily Planet Daily on July 10.  The suspects were reportedly arrested in the course of an ongoing investigation of the PlusToken cryptocurrency platform which, according to the Yancheng Public Security Bureau, is a pyramid scheme.  As per the report, the Yancheng police in China have confirmed that they cooperated with local Vanuatu police to extradite six suspects associated with the PlusToken fund. The individuals were reportedly arrested by Vanuatu authorities at Chinese…

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Ethereum 

Chinese Central Bank’s Blockchain Trade Platform Processed $4.36B

The  blockchain trade finance solution of the People’s Bank of China (PBoC) processed over 30 billion yen ($4.36 billion) in foreign exchange transactions, local finance news outlet SINA reports on July 8. Per the report, the platform is supported at 483 branches of 28 banks in Shenzhen and is currently operating normally. Still, due to an allegedly uneven adoption of financial technology, the business volume is still proportionately small. PBoC representatives explained in the report that blockchain technology avoids the slow paper trail between multiple receiving departments that is typical…

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Bitcoin 

Chinese Crypto Exchange BTCC Plans South Korean Launch in November

China’s first Bitcoin (BTC) exchange BTCC, formerly known as BTC China, is set to launch trading services in South Korea, Korean business outlet The Investor reported yesterday, October 16. BTCC, which presently has headquarters in Hong Kong, will reportedly start beta services for trading in South Korea later this month and make its official debut in the market in November. According to the BTCC website, the Korean service — headed by Lee Jae-beom — will span a trading platform, wallet service, mining pool, and a service to enable consumer payments:…

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Ethereum 

Major Chinese Financial News Provider Quietly Adds Crypto Index

Sina Finance, a finance-focused website owned by China’s major tech company Sina Corp, has added crypto index into its mobile app, China-focused online Twitter resource Cnledger reported on July 3. The new index on China’s major financial news channel provides data on prices and performance of major cryptocurrencies such as bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC), XRP, and ether (ETH), according to a mobile app screenshot provided by Cnledger. Screenshot of Sina Finance’s Crypto Index on Mobile. Source: Cnledger The new crypto index is only available on the Sina…

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Blockchain 

Chinese City Offers Rent Subsidies, Cash Rewards to Blockchain Businesses

Fuzhou, China is offering rent subsidies to blockchain businesses in a bid to accelerate the industry’s growth, the state-run People’s Daily reported on June 11. The incentive is part of three measures designed to help the sector, and will enable companies to receive up to 600,000 yuan ($86,800) in relief on rent bills per year for three years. Traditional companies will also be encouraged to build blockchain applications, and will be eligible to receive a 20% subsidy on the cost of their development. Projects that win awards for scientific and technological progress, or…

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