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EOS’ Grand Governance Experiment Has a New Enemy: China’s Great Firewall

EOS’ Grand Governance Experiment Has a New Enemy: China’s Great Firewall

Distributed though it may be, the EOS community has fought hard to remain united. As of June, two rival groups were briefly in competition to launch the official EOS blockchain (or main net) using code released by the company behind the protocol, Block. One. The standoff was resolved, and the EOS community launched a unified network later that...

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Cryptocurrency Investment Loss Case Denied By Chinese People’s Court

Cryptocurrency Investment Loss Case Denied By Chinese People’s Court

“The loss caused by entrusting others to invest in digital currency” is your own fault. Chinese Law does not cover cryptocurrency losses. At the beginning of June 2017, the plaintiff Li said that the defendant Jin is the person in charge of the cryptocurrency DK coin investment project in the Philippines. The plaintiff, Li, believed...

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China: Supreme Court Endorse Blockchain Records As Legitimate Evidence

China: Supreme Court Endorse Blockchain Records As Legitimate Evidence

Chinese Supreme Court has ruled that evidence authenticated with blockchain technology is now admissible in court as authorities step up measures to handle Internet-related legal disputes. According to an official announcement released on Friday, September 7, electronic data recorded on a blockchain can now be submitted as evidence in legal disputes in China. This is part of...

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China Extends Crypto-Related Promotion Ban Beyond the Capital

China Extends Crypto-Related Promotion Ban Beyond the Capital

China’s anti-crypto onslaught continues, as a prohibition against commercial venues from hosting crypto-related events has been extended to Guangzhou Development District. Guangzhou Development District is a special economic zone in southern China, close to Hong Kong. The district’s Financial Development Bureau reportedly issued a notice of the new ban August 24, warning of the need...

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Chinese Internet Giants Shut Cryptocurrency Online Forums and Transactions

Chinese Internet Giants Shut Cryptocurrency Online Forums and Transactions

Baidu, Alibaba and Tencent block cryptocurrency-related activities on their platforms amid Beijing’s intensifying crackdown on digital money.   BAT take quick actions China’s top three tech companies, Baidu, Alibaba and Tencent known as BAT in China, are moving fast to keep pace with regulators amid Beijing’s latest crackdown on cryptocurrencies. Baidu, China’s Google, has shut...

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China Continues to Clamp Down on Cryptocurrencies

China Continues to Clamp Down on Cryptocurrencies

China has shut down numerous blockchain-related news accounts on the WeChat social app and banned hotels in downtown Beijing from hosting events promoting cryptocurrencies, in a renewed crackdown on activities related to the digital money.   Shut down blockchain news accounts At least eight blockchain and cryptocurrency-focused online media outlets – some of which raised...

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Crypto Media Banned from WeChat in Sudden Online Sweep

Crypto Media Banned from WeChat in Sudden Online Sweep

Blockchain and cryptocurrency media accounts in China have been banned on WeChat, the messenger app owned by Tencent. As first observed by Lanjiner, a China-based finance news outlet, among those affected are Jinse, which is backed by Node Capital, and Deepchain, a site supported by several token funds. At press time, on Jinse’s official Wechat...

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China’s Party News Agency Published Blockchain Guide for Officials

China’s Party News Agency Published Blockchain Guide for Officials

On Aug.13th, the publishing house of People’s Daily released a handbook titled “Blockchain-A Guide for Officials” aiming to offer knowledge about blockchain to the party’s bureaucrats. The book elaborates on the origin and core features of blockchain, potential use scenarios in the future and challenges the tech poses to business models and law enforcement. Ye...

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China’s IT Ministry: Blockchain Should Be Developed on ‘Industrial Scale’

China’s IT Ministry: Blockchain Should Be Developed on ‘Industrial Scale’

The deputy director of China’s Ministry of Industry and Information Technology (MIIT) has urged the country to “unite” forces to foster blockchain as a “core” technology for the new digital economy, according to a post on MIIT’s official website today, July 16. Speaking at the 2018 National Expert Forum on Manufacturing Powerful Countries, the Ministry’s deputy director Xin Guobin said...

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World’s Largest Bank Looks to Blockchain

World’s Largest Bank Looks to Blockchain

The Industrial and Commercial Bank of China (ICBC), one of China’s “Big Four” state-owned commercial banks and one of the world’s largest by total assets, is seeking to patent a blockchain system for the exchange of financial assets. According to a patent application filed by the bank in January and revealed on Friday, the system...

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