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24 May 23

Bitcoin and tether accepted by Chinese fentanyl chemical vendors

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Blockchain analytics startup Elliptic discovered that Chinese companies selling fentanyl precursors take large sums of cryptocurrency payments, primarily in bitcoin (BTC) and tether (USDT). This information underscores the difficulties law enforcement has in the digital era in preventing the use of […]

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24 Apr 23

Digital yuan promotions helped Chinese crypto stocks rise

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The rise of the digital yuan, China’s national central bank digital currency (CBDC), helped some crypto-related stocks surge while the cryptocurrency market has been facing notable drops. On April 23, Changshu City in Jiangsu Province announced that it would start utilizing […]

Metacade0103

23 Apr 23

Chinese City to pay civil servants using digital yuan

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Changshu City in Jiangsu Province, East China, will begin paying all public sector personnel in e-CNY, better known as digital yuan, from May 2023. This is important in promoting the digital yuan, China’s official digital money. The decision will affect government […]

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17 Apr 23

Chinese state-owned bank starts working with crypto firms in Hong Kong

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied China Bank of Communications Co., Ltd.’s Hong Kong subsidiary reportedly collaborates with several crypto companies with secured licenses in Hong Kong. According to reports, the state-owned bank works with several licensed crypto firms in the semi-autonomous city-state and has also approached […]

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27 Mar 23

Chinese banks going all in on crypto amid US financial crisis

Although crypto trading has been outlawed on the mainland for years, Chinese banks have reached out directly to crypto firms in recent months, adding to evidence that Hong Kong’s desire to become a significant digital asset hub has support from Beijing. Bank of Communications Hong Kong, Bank of China Hong Kong, and Shanghai Pudong Development […]

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24 Mar 23

CNBC report shows how Chinese Binance customers bypass crypto bans

CNBC has released an investigative piece on Binance citing allegations of allowing its Chinese customers to override the country’s cryptocurrency trading ban. According to the article, Binance staff and volunteers have taught others how to trick the exchange’s know your customer (KYC), residency, and verification processes and how to get a Binance debit card by […]

SatoshiChain Brings Bitcoin to DeFi01

22 Mar 23

Russia will use Chinese yuan for transactions, avoiding sanctions

A shift in the digital currency environment may occur due to Russia’s latest decision to utilize the Chinese yuan instead of the U.S. dollar in trade settlements with nations in Asia, Africa, and South America. Despite Russia’s choice having nothing to do with the digital yuan, still, it may increase the digital yuan’s exposure and […]

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16 Mar 23

US SEC charges Chinese ‘fraudster’ Guo in $850m scam

The United States securities and exchange commission (SEC) has leveled charges against Miles Guo otherwise called Brother Seven – a Chinese businessman who has been living in exile – and his financial advisor, William Je over allegations of their involvement in a fraudulent scheme involving over $850 million. According to the SEC’s press release, the […]

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