Circle CEO Jeremy Allaire says the U.S. lagging behind China’s development of a national digital currency could alter the way Western companies transfer payments. Speaking on the Global Coin Research podcast this week, Allaire said China is setting the pace…
Tag: China
Layoffs Underway Amid ‘Adjustments,’ Bitcoin Miner Bitmain Confirms
Months after it filed an application to go public on the Hong Kong Stock Exchange, Beijing-based cryptocurrency mining giant Bitmain is undergoing a series of business changes that extend even to its China offices, the company confirmed Tuesday. “There has…
What China’s Cashless Revolution Can Teach the West About Crypto
Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers.…
Court Sides With Crypto Exchange Despite Allegation It Violated China Ban
A Chinese cryptocurrency trader who was sent bitcoin in error must repay an exchange even if it broke domestic rules, a Beijing court has ruled. In a judgement made on July 31 and released on Thursday, an intermediate Beijing court upheld…
China’s Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad
The chives growing in one crypto tycoon’s California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China’s Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of…
China State TV: Token Sales Still ‘Rampant’ After Central Bank Ban
China Central Television (CCTV), the country’s highest-level government mouthpiece, has hit out at domestic initial coin offerings (ICOs) that it says are still “rampant,” despite a 2017 ban. During its “Financial News” program aired on Monday night, the state media…
ICBC’s First Blockchain Patent Is Now Public
The Industrial and Commercial Bank of China (ICBC), one of the country’s four largest state-owned commercial banks, is exploring a way to authenticate digital certificates and store data in a sharable blockchain. According a patent application filed with China’s State…