Category: China

Bitmain Closes Israeli Blockchain Development Center Citing Crypto Market Conditions

Chinese crypto mining giant Bitmain is closing its development center in Israel and firing local employees, Israeli business news outlet Globes has learned Monday, Dec. 10. Bitmaintech Israel — founded in 2016 to explore the use of blockchain technology, work on the Connect BTC mining pool and develop the infrastructure behind Bitmain’s artificial intelligence (AI) […]

Blockchain Policy Development in China Concentrated in Three Cities

Beijing, Shanghai and Guangzhou — or BeiShangGuang — has become the most concentrated area of ​​relevant blockchain legislation and policy in China, reports local finance publication Securities Daily Dec. 7. The Chinese securities newspaper has analyzed blockchain-related policies introduced throughout the country in the recent years, and concluded that there are 32 blockchain-related policies within […]

Crypto Miners Sell off Mining Devices ‘by Kilo’ Amidst Market Decline

Cryptocurrency mining operations in China are reportedly selling mining machines by weight, as opposed to price per unit. This selloff was reported by local Chinese crypto outlet 8BTC Wednesday, Nov. 21, with reference to the cryptocurrency mining pool F2Pool. Cryptocurrency markets experienced widespread decline throughout last week, with Bitcoin (BTC) declining to as low as […]

Chinese Blockchain-Related Company Xunlei Reports $45.3 Million Q3 Revenue

Chinese desktop software and blockchain-related company Xunlei has published its Q3 report Wednesday, Nov. 14. According to the report, the firm’s revenue increased in 2018 after the introduction of blockchain services. The report notes that the company’s Q3 revenue reached $45.3 million, representing an increase of 1.1% year-over-year. The firm attributed $19.8 million of that […]

China’s Central Bank Warns Investors of ICO, Crypto Risks

China’s central bank, the People’s Bank of China (PBoC), has today, September 18, issued a new public notice “reminding” investors of the risks associated with Initial Coin Offerings (ICOs) and crypto trading. The notice, released from the bank’s headquarters in Shanghai, reiterates the severe line that has been adopted by the country’s Office for Special […]

Founder of Crypto Exchange OKEx Allegedly Detained on Crypto Fraud Charges in China

Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11. According to the news outlet, Xu is currently being held in the Shanghai Weifang Xincun police station, and […]

China’s Supreme Court Rules That Blockchain Can Legally Authenticate Evidence

China’s Supreme Court has ruled that evidence authenticated with blockchain technology is binding in legal disputes, in an official announcement released today, September 7. The new ruling comes as part of a series of more comprehensive rules that clarify litigation procedures for internet courts across China, and comes into force immediately. According to today’s announcement, […]