China Has Shut 13 Underground Crypto Trading Apps, Here’s More About It
China has shut down many underground cryptocurrency apps. A total of 13 underground trading applications have shut down after putting a ban on them for almost one year. As suggested by reports, China, which happens to be the world’s second-largest economy, has called crypto-related transactions illegal. China regulators have taken down 23 crypto-media websites and […]
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An industry organization controlled by the Chinese government has updated a list of topics users of video-sharing apps should avoid. Crypto-related content is now among the entries along with traditional taboos in China like mocking its leadership, provoking sectarianism, and showing sex. Clips on Crypto Trading, Mining Banned in China The China Netcasting Services Association (CNSA) has recently published a blacklist of 100 topics that online videos posted on platforms similar to Tiktok should not feature. Among them are the usual suspects like questioning China’s official history,....
With all of the focus on the deep web and underground marketplaces, there is a lot of discussion as to which deep web marketplace is the “best’ right now. Plenty of users seem to be for AlphaBay, and their subreddit is filled with a lot of illegal deals and complaints about Bitcoin users being scammed. There are many deep web marketplaces available to users, yet not all of them can be trusted. Any form of peer-to-peer marketplace needs to ensure both buyers and sellers are protected at all times, especially when they deal with Bitcoin as a payment method. After all, cryptocurrency....
China’s Tencent Holdings plans to shut down its non-fungible token (NFT) platform Huanhe only a year after its launch. The social media giant has reportedly made the decision because of the strict ban on the resale of NFTs imposed by the authorities in Beijing.
Huanhe to Close Down a Year After Launch as China Curbs NFT reselling
Shenzhen-headquartered technology conglomerate Tencent is preparing to shut down its NFT platform as early as this week, according to a report by Chinese media outlet Jiemian, quoted by the South China Morning Post. The move comes amid....
Five underground economy forums were closed and arrests made by the German Law Enforcement Agencies in the recent days. Bitcoin has gained the notoriety of being the criminal’s currency. The use of bitcoin on the deep web marketplaces like Silk Road since its early days has garnered the public’s interest in the digital currency. In its initial days, bitcoin was considered to be completely anonymous. The assumed anonymity combined with ease of transaction made it a preferred currency for the underground economy. However, it has been proven that the bitcoin transactions are pseudonymous at....
China is tightening its capital controls. Faced with an outflux of money resulting from a depreciating yuan, Chinese officials are restricting the flow of money into foreign currencies such as the US dollar, causing severe complications to businesses with a large portion of international operations. Further, officials are limiting purchases of insurance products in Hong Kong by mainland residents to a $4,600 policy cap. Underground banks. While these capital controls can can make it significantly more complicated to transfer funds out of the country, ways around them do still exist. For....