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Huobi and OKCoin’s leaders cannot leave Beijing upon further investigation

Huobi and OKCoin’s leaders cannot leave Beijing upon further investigation

On Monday, Caijing quoted from informed sources that the current leaders and executives of Bitcoin exchanges should not leave Beijing to cooperate with the investigation. According to the regulatory requirements, the shareholders of each trading platform, the actual controllers, the executives, the financial leaders, etc. should cooperate with the relevant authorities in Beijing during the ....

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Getting around the ban: OTC trading in China

As Bitcoin is going through the greatest regulatory crisis in China since its origination, Over-The-Counter (OTC) trading has increasingly caught public attention. Currently, the main channels of Bitcoin OTC trading include institution-operated information platform, alliances of institution-operated and licensed intermediaries, individuals, and several messenger applications. The OTC trading prices are adjusted based on the real-time...

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Recap of A Week of Gloom and What to Expect Next

Recap of A Week of Gloom and What to Expect Next

The negative news coming from China crypto world continued throughout this week (11-17 September). The China fud started with the public statement from the China’s central bank on September 4th on regulation policies and warning the risks of ICO projects. On Friday the 8th a damning article on Caixin’s website (a leading financial media group...

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What would happen if the Chinese government shuts down exchange platforms?

Since Caixin’s article last Friday, rumours burst out disclosing that domestic regulatory bodies decided to close all the virtual currency exchanges in China. It caused another round of FUD and the value of Bitcoin immediately plunged more than 20%. However, till now there is no official confirmation from any formal channels and the major Chinese...

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More than 40 ICO Platforms Closing in China

More than 40 ICO Platforms Closing in China

Following the token sale ban by the People’s Bank of China (PBOC), more than 40 Initial Coin Offering (ICO) platforms are reportedly suspending their ICO services. Banks have also been instructed to stop providing service to ICO platforms. However, some token sale prices have slightly recovered as speculators returned, while many ICO platforms face challenges...

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China’s Regulators Consider Suspending All ICOs

China’s Regulators Consider Suspending All ICOs

Regulators in China are discussing a plan to possibly suspend all initial coin offerings (ICOs) within the country, reports say. According to Tencent Finance, regulators proposed an action plan in a meeting on August 18 hosted by the financial market department of the People’s Bank of China (PBoC), the country’s central bank. Officials from China’s...

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Agricultural Bank of China Launches Blockchain-based Loan System

Agricultural Bank of China Launches Blockchain-based Loan System

On 1 August, ABC (Agricultural Bank of China) completed the 1st blockchain-based loaning business with the technical support from Hyperchain, a Hangzhou-based blockchain startup. The launch of “E-blockchain Loan” system marks the first practical blockchain-based user case in domestic banking industry. ABC is one of the four major state-owned bank in China. The product was...

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ATMChain’s Project In China With 7,000 Intelligent Media Screens ‘Goes Blockchain’ Through DECENT

ATMChain’s Project In China With 7,000 Intelligent Media Screens ‘Goes Blockchain’ Through DECENT

The DECENT Network has announced that ATMChain, a new third-party application and an open platform ecosystem based on the blockchain network being developed on top of the DECENT Protocol, will support DCT as a method of payment in their Initial Coin Offering (ICO), which starts on August 8, 2017 at 14:28 (China, Beijing Time). Built on DECENT’s...

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