When will China Legalize Bitcoin Again? The Impacts on the Market

In September 2017, China conducted a nationwide blanket ban on cryptocurrencies, exchanges, and ICOs. This had a global impact. After all, before the crackdown, the country of the red dragon accounted for nearly 80 percent of the world’s crypto transactions and ICOs and housed the biggest crypto mining operations. So what happened after the ban?…

Huobi Unveils ‘Finance Chain’ For Building Enterprise Blockchains

Huobi Group is jointly developing a new public blockchain for decentralized financial (DeFi) services, according to a press release on July 1.Major global digital asset financial service provider Huobi has partnered with Chinese blockchain startup Nervos enabling companies to deploy their own blockchains, tokenized assets, as well as DeFi services, according to the announcement.The joint…

Trend Micro Detects Major Uptick in New Strain of XMR Malware Targeting China-Based Systems

Cybersecurity firm Trend Micro has detected a major uptick in monero (XMR) cryptojacking malware targeting China-based systems this spring. The news was revealed in an official Trend Micro announcement on June 5.As previously reported, cryptojacking is an industry term for stealth crypto mining attacks that work by installing malware that uses a computer’s processing power…

Chinese Internet Court Employs AI and Blockchain to Render Judgement

In China, blockchain technology is increasingly employed to settle court cases, local news outlet Global Times reported on April 25.Speaking at the 2019 Forum on China Intellectual Property Protection, Zhang Wen, president of the Beijing Internet Court — which was established in September 2018, and has since processed 14,904 cases — reportedly said that the…

“The Cutest Crypto Game” Celebrates Chinese New Year and Sends Out Digital Gifts

Decentralized crypto collectible game Blockchain Cuties, which is already available on three different blockchain platforms — Ethereum, EOS and Tron — has announced a celebration of Chinese New Year for its players. The game developer is going to implement the Chinese tradition of giving “lucky red envelopes” and will send out digital gifts. The Blockchain…

China’s IT Ministry Calls for ‘Acceleration’ of Blockchain Standardization

A document published Nov. 12 on the official website of the Cyberspace Administration of China (CAC) calls on the country to “accelerate” the development of standards for the blockchain industry.The text has been authored by the Ministry of Industry and Information Technology (MIIT)’s Zhou Ping, who is also secretary general of the China Blockchain Technology…

China’s Central Bank Extends Its Regulatory Scrutiny to Crypto ‘Airdrops’

China’s central bank, the People’s Bank of China (PBoC), has widened its scrutiny to include token airdrops, which it characterized as “disguised” Initial Coin Offerings (ICOs) in its 2018 financial stability report, published Nov. 2.Using by now familiar rhetoric, the report reiterates the bank’s stringently anti-ICO and crypto trading stance, defining the former as “illegal”…

Largest Chinese Newspaper to Launch Blockchain Lab After New Deal With Tech Company

The venture capital wing of the official newspaper of the Communist Party of China (CCP) — People’s Daily Online — has signed a deal for a strategic partnership on a blockchain laboratory Oct. 23, according to a press release.People’s Capital signed a deal with Shenzhen-based technology company Xunlei Limited. Per the terms of the agreement,…

What China’s Cashless Revolution Can Teach the West About Crypto

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Cash appears to be disappearing from China’s teeming cities. Foreign tourists talk of struggling to…