Former Chinese finance minister Lou Jiwei called on China to carefully study cryptocurrency progress during his comments at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing. The speech was reported by Sina Finance and it said that the former minister warned about the dangers of cryptocurrency, including its volatility
China has announced significant monetary easing measures, including multiple rate cuts and a reduction in banks’ reserve requirements, to stimulate its struggling economy. The People’s Bank of China (PBOC) will lower the reserve requirement ratio (RRR) for banks by 50 basis points (bps), which is expected to release approximately $142
China’s efforts to clamp down on cryptocurrency-related crimes and enforce stricter regulations have taken a significant step forward. Zhang Moumou, the central figure in a vast crypto pyramid scheme, has been extradited to China from Thailand after an intense international search. This breakthrough marks the first time China has successfully
New steps to address anti-money laundering regulations have been announced by China’s Supreme People’s Court and Supreme People’s Procuratorate. The legal interpretation sets very stringent standards for the prosecution of offenses relating to money laundering as of August 20, 2024. The primary goal of the new regulations is to prevent
The cryptocurrency sector has witnessed an increasing number of scams in the past few months. The recent WazirX hack caught market attention over the loss of its $230 million funds. Amid such various reports, the China-based OKX exchange announced a new measure to prevent hacker activity. Notably, OKX exchange’s CEO
Donald Trump appeared on a Kick live stream with Adin Ross, a renowned YouTuber with more than 4 million followers. Adin Ross gifted Donald Trump a Cybertruck wrapped with the image of him standing after his assassination attempt and a $5K Rolex, on his live stream with over 500k live
After a five-month suspension, triggered by a significant investigation, cryptocurrency exchange BitForex has announced it will soon allow users to withdraw their assets. This decision follows the detention of the BitForex team by Jiangsu Province authorities in China on February 23rd, which led to a halt in operations and concerns
HSBC firm’s China subsidiary has begun providing e-CNY services to corporate clients, the firm said. This makes HSBC the first international bank in China to provide services related to the digital currency of the central bank, offering these services to both retail and corporate clients. The People’s Bank of China
A student of Chinese Zhejiang University, Yang Qichao issued a virtual currency token BFF in 2022. After the issuance, Qichao’s uninformed liquidity withdrawal caused a crypto investor, Luo, to lose 50,000 BSC-USDT coins that he exchanged for the tokens. This pushed Luo to file a complaint with the Nanyang Public
Reportedly certain state Chinese workers who are paid in “e-CNY” or digital yuan hardly use it and have been changing it to physical cash, implying that China’s digital currency initiative is still in its early stages and has significant challenges. Some Chinese localities have started paying state personnel in the
