Chinese regulators unite forces to crack down on crypto
The Chinese central bank sets up a “coordination mechanism” with state agencies to continue battling crypto. The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country.The People’s Bank of China (PBoC) officially announced on Sept. 24 a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity.10 Chinese state authorities, including the PBoC, the Cyberspace Administration....
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Switzerland’s largest bank, UBS, has advised investors to “stay clear” of cryptocurrencies and “build their portfolio around less risky assets.” The UBS analysts warned that “Regulators have demonstrated they can and will crack down on crypto.” UBS’ Crypto Advice and Warning The global wealth management team at UBS warned in a note published last week that regulators worldwide, particularly the U.S. and the U.K., will impose tougher cryptocurrency regulations. Citing that “China’s latest crackdown — extending to miners,....
Major cryptocurrency exchanges are cutting ties with users in China following the latest crypto crackdown announcement by the Chinese government. Huobi has stopped letting new users in China sign up for its services while Binance has blocked account registrations using Chinese mobile phone numbers.
Major Crypto Exchanges Stop Signing Up Chinese Users
Following China’s latest crackdown announcement, several cryptocurrency exchanges and service providers said they have begun cutting ties with users in China.
Crypto exchange Huobi announced Sunday that it will....
BTC-e has opened up USD/CNH, BTC/CNH, and LTC/CNH markets today. Withlooming PBOC action that would end Chinese Bitcoin exchange's access to domestic bank accounts, Chinese traders are undoubtedly looking for new exchanges to trade on. Along with Chinese RMB (CNH to BTC-e) trading comes RMB deposits, which are handled through an international bank. An international bank means that Chinese traders wishing to convert fiat to crypto through this route will be subject to the Chinese $50,000 annual limit. In fact, people are starting to realize that the PBOC's still shrouded notice to regional....
At 8 a.m. EST today, various Dogecoin and Litecoin members plan to announce a brand new initiative to both raise Christmas money for orphans in the Philippines and unite the crypto communities over a special cause. The charity, deemed "Liteshibes4Christmas," will launch on both the Litecoin subreddit and the Dogecoin subreddit, along with litecointalk.org. The hope is that this charity event will set precedent for all the digital currency communities to join forces and work together for good causes in the future, regardless of differences. Andrew, also known in the Litecoin community as....
Chinese authorities have arrested 77 individuals and shuttered gambling sites using the dollar-pegged tether (USDT) cryptocurrency.