Bitcoin and China: More than Meets the Eye?
This article is not the first time that I have covered the Chinese Bitcoin economy. Four months ago, China saw its first major interaction with the Bitcoin community when the One Foundation, the largest independent charity in China, started accepting Bitcoin donations for a disaster relief campaign, and received 230 BTC (then $30,000) within two days.....
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Following a meeting between the People’s Bank of China and representatives of BTC China, OKCoin and Huobi, which in combination account for some 90% of bitcoin trading volumes, BTCC has e-mailed CCN an official statement in reply to our request for comments: “BTCC regularly meets with the People’s Bank of China and we work closely with them to ensure that we are operating in accordance with the laws and regulations of China. As the longest running exchange in the world, we have always adhered to strict AML/KYC policies and continue to be compliant with all current regulations in China. The....
Recent reports from China indicate there may be more to the Bitcoin ban than meets the eye. According to the Financial Times (FT) the Chinese banking system is in crisis which could explain the Bitcoin ban in China. Chinese citizens seem to be running away from their own banking system in droves and their Government is closing the escape paths - including Bitcoin. During the run up of bitcoin in November you could watch the CNY currency leaking from China on sites like www.fiatleak.org and there was a breathtaking amount of Chinese currency leaking into BTC. The over night Repo rate is a....
On the surface, ‘Crypto’ and ‘Gaming’ seem like an intuitive couple, yet the current landscape of these largely complementary industries reveals that the fusion of the two is still very much under construction. The challenges posed by accessibility, reach, design, function and a plethora of others immediately springing to mind are bravely being tackled by many crypto and tech wizards, yet only a handful are pioneering this evolution. In this article, we’ll review the industry’s […]
A number of smaller China-based bitcoin exchanges met with the People’s Bank of China in a closed-door setting today. According to sources familiar with the matter, in attendance were exchanges that were previously absent from talks held earlier in the month, including Beijing-based Yunbi and BTC Trade. Speaking with CoinDesk, BTC Trade confirmed its participation, while Yunbi would neither confirm or deny the report. Both declined to provide additional details about the discussion. According to Bloomberg, a source said that money laundering was on the agenda, as it was in prior talks.....
Prominent crypto analyst Ali Martinez has identified the immediate important Bitcoin (BTC) price levels using the MVRV extreme deviation pricing bands model. Notably, the premier cryptocurrency has remained in consolidation between $101,000 – $104,000 for most of the week despite news of a 90-day tariff pause between the US and China. Related Reading: Bitcoin Meets […]