The Chinese Press Says Regulators Want To Cancel Bitcoin, But It’s Not Feasible
Award-winning journalist Colin Wu is crypto-Twitter’s bridge to the Chinese press. He extracted and translated the main points of an article from CaiXin magazine, “which is most recognized by Chinese financial officials.” Apparently, they “interviewed people close to the People’s Bank of China and other government agencies” and got their perspective on this year’s iteration […]
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The latest Bitcoin news from China is in. A handful of Chinese banks have decided to kick off the week by unilaterally banning Bitcoin-related accounts. Tuesday morning in China, Ping An Bank and China Everbright Bank both posted notices to their website announcing that they would suspend accounts of individuals or organizations caught participating in Bitcoin or Litecoin transactions. Both banks explicitly mentioned the PBOC as the source of this decision. Also, both banks call for the public at large to report any individuals or organizations that might be involved with Bitcoin or....
The folks over at BTC China - now the world's largest bitcoin exchange - are apparently in talks with Chinese regulators in hopes of getting Bitcoin accepted and approved as an "official currency", according to a Monday report by Business Week. These talks, described as "low-level", would allow the use of the digital currency for the buying and selling of goods in the People's Republic of China, Reported members of these talks include officials from the "People's Bank of China, the China Banking Regulatory Commission, and the China Securities Regulatory Commission." BTC China head honcho....
Binance may be seeing Bitcoin inflows, but overall, movements among major exchanges appear to cancel each other out, fresh data shows. Bitcoin (BTC) balances rising on exchanges may not be a sign of investors preparing to sell, new research argues. Unveiling the latest data from across exchanges on Dec. 28, Glassnode on-chain analyst TXMC pointed the finger at fresh changes in China for rising balances elsewhere.Binance “absorbing” orphaned Huobi usersThe end of December is seeing nerves fray as a rangebound BTC price combines with increased inflows to exchanges.A classic indicator that....
According to a press release from the Department of Justice (DoJ), two Chinese individuals allegedly paid over $60,000 in Bitcoin to a U.S. government official to obtain classified information. The Chinese suspects were identified as Guochun He (“Dong He”) and Zheng Wang (“Zen Wang”). Related Reading: Bitcoin Puell Multiple Continues Uptrend, Here’s What History Says […]
2016 began in China with two sequential market crashes that forced the regulators to intervene in the Shanghai and Shenzhen stock exchanges. As they did in response to the stock bubble that burst in 2015, Chinese regulators intervened to organise a centrally planned recovery. Despite a stimulus of US$20bn that the People's Bank of China (PBoC) pumped into the market during the 5th January market crash, the yuan kept weakening. Gold, as the usual commodity of refuge for investors during uncertain times, started to gain momentum. At the same time, the virtual currencies that employ heavy....