Beijing

China Issues Digital Currency Guide for Party Cadres

</header> <strong>Understanding a complex subject should be easier with access to educational materials. With blockchain and CBDC now part of Beijing’s political vocabulary, the Communist Party of China (CPC) has issued a guide to digital currencies meant to prepare party officials for upcoming changes in the country’s financial system. </strong> Also read: China Saw $11.4 …

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Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia

</header> <strong>In this roundup, we cover Russia’s </strong><strong>supreme court recognizing tokens as assets like money and property, France’s new crypto regulatory framework, and </strong><strong>several industry developments in China, including a blockchain ETF filing. We also cover Japan’s world conference for decentralized financial governance, Uzbekistan’s crypto ban, and four countries’ central bank digital currency updates.</strong> Also …

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4 Beijing Regulators Issue New Crypto Activity Warning

</header> <strong>Four financial regulators in China have jointly issued a fresh warning regarding crypto trading activities in Beijing. The notice explains the reason for the warning and lists prohibited crypto activities, which have reportedly been surging as companies ramp up their blockchain promotion.</strong> Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved …

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Chinese Regulators Question 8 Crypto Companies in Shenzhen

</header> <strong>Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital.</strong><strong> Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. </strong> Also …

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Another Chinese Lender Bailed Out After Bank Run

</header> <strong>Yichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that its top management was in …

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The Xi Effect – Chinese Government to Fund Blockchain Projects

</header> <strong>Chinese President Xi Jinping’s announcement that the country would invest heavily in blockchain technology – coupled with a sweeping move to remove online posts suggesting such technology is a scam – has nourished optimism long-held by crypto advocates. Of course, the reality is that China’s marked shift towards pro-blockchain policies is part of a …

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Facebook’s Libra Concept Will Impact Cross-Border Payments: Ex-PBoC Chief

A former governor of the People’s Bank of China (PBoC) has indicated that Beijing may delegate the issuance of digital currency to commercial entities, the Hong Kong-based South China Morning Post newspaper reported on July 11. Zhou Xiaochuan, who stood down as head of the central bank in 2018 after 15 years, revealed the country may adopt a new approach for …

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