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China Fintech Watchdog to Step Up ICO Oversight

A self-regulatory association that draws support from China's banking and securities sectors is vowing to increase its oversight over cryptocurrency and initial coin offerings (ICO) in 2018. In its annual meeting held on Feb. 9, China's National Internet Finance Association (NIFA) revealed that while it has put special efforts into overseeing the sector in 2017, it expects this

By | February 12th, 2018|Categories: News|0 Comments

Ripple Blockchain Network Adds China Payments Provider

Chinese payment provider LianLian International is joining RippleNet, the payment network that uses Ripple's blockchain technology to facilitate cross-border transactions. Announced on Feb. 7, the news will see the Hong Kong-based LianLian International adopting Ripple's xCurrent solution in an effort to bring same-day, cross-border transactions onto a blockchain for its existing customers. The product differs from Ripple's xRapid solution, which,

By | February 7th, 2018|Categories: News|0 Comments

China to rein in overseas virtual currency trading

China's central bank has said it will tighten regulations on domestic investor participating in overseas transactions of initial coin offerings (ICOs) and virtual currency as risks in the sector are high. Overseas ICO transaction platforms pose risks including illegal offerings, false information, fraud and pyramid schemes, according to the People's Bank of China (PBOC). Regulators

By | February 6th, 2018|Categories: News|0 Comments

Chinese Retail Giant JD.com Joins ‘Blockchain in Transport Alliance’

The logistics arm of Chinese retail and internet giant JD.com has joined the Blockchain in Transport Alliance (BiTA). The firm said in an announcement yesterday that JD Logistics joins the alliance with the aim of sharing its knowledge and applications of blockchain technology with other international freight firms, including fellow BiTA members UPS, FedEx, Penske and

By | February 3rd, 2018|Categories: News|0 Comments

Former director Institute of Financial Services: ‘Impossible to truly ban bitcoin’

On January 26, 2018, the China Internet Finance Association issued a reminder to warn investors for ICOs and virtual currencies and urging investors to recognize the risks of offshore ICOs and virtual currency trading platforms. On the same day, Jia Kang, former director of the Institute of Financial Science at the Ministry of Finance and

By | January 27th, 2018|Categories: News|0 Comments

Central Bank Official Pushes for Centralized State Digital Currency

China's central bank is considering its own digital currency, but it may not be built with blockchain technology, according a senior official. In an op-ed article published by news outlet Yicai, Fan Yifei, vice governor of the People's Bank of China (PBoC), outlined the bank's direction on a potential central bank digital currency (CBDC). Fan stated

By | January 26th, 2018|Categories: News|0 Comments

China’s Banking Regulator Pushes Blockchain Adoption for Credit Market

Blockchain technology should be adopted as part of a plan to boost development of China's secondary loan market, according to a paper by the China Banking Regulatory Commission (CBRC). Published on Jan. 19, the paper, drafted by a special committee, covers a variety of topics around developing and regulating financial technologies. In a section on the

By | January 24th, 2018|Categories: News|0 Comments

Dutch Financial Daily’s interview with VeChain CEO Sunny Lu: “The Chinese government has big interest in blockchain”

Sjoerd den Daas, reporter of the Dutch Financial Daily reached out to VeChain's CEO Sunny Lu to talk about the fast growing project. The article was published in the Dutch newspaper on January 23, 2018. Below a translation. Exchange platforms, issuers of crypto tokens and traders. Nobody seems safe in the hunt that the Chinese

By | January 23rd, 2018|Categories: News|0 Comments

PBoC Reportedly Orders Payment Services to Stop Serving Crypto Traders

The Business Administration Department of the People's Bank of China (PBoC) has reportedly issued a document today requiring payment providers in Beijing to stop facilitating cryptocurrency trading activities. The news, first reported by Securities Times, a state-owned media outlet launched by the Communism Party mouthpiece the People's Daily, said the document requires payment companies to start

By | January 20th, 2018|Categories: News|0 Comments

Are China’s pro-blockchain and anti-crypto policies a step in the right direction?

Much as the 800-year-old Magna Carta provided the framework for modern-day governance through the rule of law, the nine-year-old Bitcoin whitepaper provided the framework for digital governance through codified law. Through Bitcoin, the concept of the blockchain was born, and blockchain technology will unlock opportunities on a global scale that could challenge China’s current dominance

By | January 12th, 2018|Categories: News, Uncategorized|0 Comments