Shanghai Man: Fiat on-ramps dry up in China, crypto topics censored on social...
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.This week China is back to work after its week-long national day celebrations, an event that is always filled with flag-waving, military parades and enthusiastic nationalism. This years version was intensified by the recent homecoming of Huawei executive Meng Wanzhou after three years of detention in Canada, as well as heightened tensions in the Taiwan Strait.....
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PRESS RELEASE. Palo Alto, USA, March 2022 – Vechain (VET), the leading layer-1 smart contract platform has announced it is adding Alchemy Pay’s (ACH) mainstream-friendly fiat payment channels and crypto on-ramps to its network. Alchemy Pay is a specialist in providing practical payment solutions that connect up fiat and crypto economies. Its crypto acceptance payment system for online and offline businesses with 2 million+ merchants in over 70 countries worldwide now supports VeChain’s VET token for payments. VeChain’s CEO, Sunny Lu, said of the integration,....
Representatives of law enforcement agencies and academia in Shanghai held a seminar devoted to cryptocurrencies, regulations, and the combating of crypto-related crime. Determining “the legal attributes of virtual currency” was among the main topics at the forum which also focused on matters of financial supervision. Prosecutors and Professors Discuss Crypto Oversight in Shanghai Amid an ongoing crackdown on cryptocurrency mining, trading, and other related activities in China, officials from law enforcement bodies, the judiciary, and academic circles in Shanghai gathered....
There has been much conjecture on the role China has played in the rise and fall of Bitcoin’s price. Most in this space recognize that China has been leading the Bitcoin marketplace in terms of trading and volume. If this is the case, perhaps looking through some charts would shed some light on where Chinese money is flowing. Below is a chart comparing the Shanghai Composite with the price of Bitcoin. First, let’s look at the month of July, where the Shanghai composite started its rally, while Bitcoin topped out after making a rally of its own in the wake of the Mt. Gox debacle. In mid....
In significant news coming out of China, China’s central bank – the People’s Bank of China – has revealed that it carried out on-site checks on major Chinese bitcoin exchanges in Beijing and Shanghai. Bitcoin’s soaring value and trading in China has evidently caught the eye of authorities who are now clamping down on capital outflows that they believe is taking place via bitcoin, while the yuan continues to depreciate. In a public notice, the Shanghai branch of the PBOC revealed it carried out spot checks today (Wednesday) on BTC China. A roughly translated statement reads: The People’s....
Shanghai residents are using the blockchain to record and preserve memories of their city’s month-long COVID-19 lockdown, minting movies, images, and artwork as non-fungible Tokens (NTFs) that may be shared and recalled. Shanghai Residents Adopt NFTs To Store Memories Residents of Shanghai, China’s largest city with a population of more than 25 million people, are […]