china cryptocurrency

China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

The Silk Road Balance Sheet Discrepancy: Bitcoin Worth $4.8 Billion Still Missing The original Silk Road marketplace has been shut down for well over seven years now and to this day, 444,000 bitcoin worth $4.8 billion is still missing. Just recently, a report focused on those funds discusses one of the market’s … read more. …

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China’s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far

Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts … read more. New …

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Major Chinese Bank Launches Central Bank Digital Currency Wallet Briefly

One of China’s biggest banks recently opened up registration for wallets using the country’s central bank-backed digital currency. There are four levels of the wallet, according to reports. However, the bank took the offer down a few hours later. China’s Digital Currency Wallet Launch China Construction Bank (CCB), one of the country’s largest state-owned banks, …

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China Testing Digital Currency in Major Cities, Including Beijing and Hong Kong

China’s Ministry of Commerce has announced the pilot run of the country’s central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau. It will also be tested during the 2022 Winter Olympics games in Beijing, the ministry said. China Announces Testing of Central Bank-Backed Digital Currency in Major Cities China’s Ministry of …

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Chinese Court Rules Bitcoin Is Asset Protected by Law

A court in Shanghai, China, has reportedly ruled that bitcoin is an asset protected by Chinese law in a case that has dragged on for years. The case involves a theft of two different cryptocurrencies, one being bitcoin, from an American. The defendants argued that bitcoin was not recognized under Chinese law; the court disagreed, …

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