China publishes national blockchain standard

China’s Ministry of Industry and Information Technology (MIIT) has published a national standard for blockchain technology to guide the development of the industry in the country, a state-run news channel CGTN reported on June 2. The guideline reportedly standardizes the blockchain system’s functional architecture and core elements, serving as a reference to better understand and…

Binance’s CZ refutes report claiming company has been hiding China ties

Ad Binance CEO Changpeng ‘CZ’ Zhao said the inherent transparency of blockchain technology is sufficient evidence to disprove false claims in “traditional media writing.” CZ made the tweet after media reports alleging Binance hid its presence and links to China and did not leave the country in 2017 despite claiming to do so. China allegations…

Conflux surges 134% following partnership to develop blockchain SIM cards

Ad Conflux Network (CFX) surged 134% in the last 24 hours to $0.14460 at the time of writing, according to CryptoSlate’s data. The surge in price follows from the Conflux Network scoring a partnership on Feb. 15 with the second largest wireless carrier in China — China Telecom — to develop Blockchain-enabled SIM cards (BSIM)….

China holds $3.9B worth of Bitcoin despite anti-crypto stance

CryptoQuant co-founder Ki Young Ju said the Chinese government is a crypto whale, despite its negative posture toward the industry. FUN FACT: Government of China🇨🇳 is a crypto whale. Chinese authorities seized 194k BTC, 833k ETH, and others from the PlusToken scam in 2019. They forfeited these $6 billion-worth assets to the national treasury. FWIW,…

Hong Kong issues policy statement on crypto

The Hong Kong government issued a crypto policy statement that clarified its plans to develop “a vibrant sector and ecosystem” for the nascent industry on October 31. The policy statement marks a key change for the government, which had recently revealed intentions to allow retail traders to invest directly in crypto. Hong Kong crypto regulations…

China floats pan-Asian digital currency built on blockchain

China-backed researchers have called for establishing a pan-Asian digital currency to end the dominance of the U.S. dollar in the region, South China Morning Post reported on Oct. 13. According to the report, the economic conditions for creating a regional digital currency are now in place in East Asia. “More than 20 years of deepened…

China arrests 93 people suspected of laundering 40B RMB via crypto

China’s Hengyang County Public Security Bureau arrested 93 suspects involved in laundering 40 billion RMB via cryptocurrencies, local media reported on Sept. 25. According to the report, the criminal group was involved in more than 300 cases of fraud and had been operating since 2018. Authorities in the county started investigations after the director of…

China to respect privacy of digital yuan users, eyes more adoption

A senior Chinese central bank official, Mu Changchun, said the country will respect digital yuan users’ privacy and protect their personal information, Reuters reported on July 25. According to Changchun, the digital yuan has a limited anonymity feature that allows for reasonable anonymous transactions. He said using the digital yuan “prevents and combats illegal activities…

Hacker wants 10 Bitcoin in exchange for Chinese citizens’ stolen data

An anonymous hacker has offered to sell the stolen personal data of over 1 billion Chinese citizens for 10 Bitcoin (BTC), roughly $200,000. The data includes the names, birthplaces, addresses, phone numbers, national ID, criminal information, and other information of private citizens in the country. The hacker reportedly gained access to the Chinese Shanghai police…