China orders banks to stop financing cryptocurrencies & plans his own digital currency (140 points, 225 comments)
At 8:00 on January 4, 2018, the founder of Vechain, Lu Yang, will make a breakthrough in technological transformation at the live-streaming "China-US Blockchain Broadcasting Group" (138 points, 70 comments)
355 points: Criptolete's comment in Just visited VeChain offices in Shanghai: got my hoodie and nice info for you!
299 points: Crypto078's comment in A message from Sunny Lu: STOP ASKING VECHAIN PARTNERS FOR MORE INFO
275 points: deleted's comment in VeChain mods removed a legitimate criticism to VeChain. It cant always be happy rainbows and sunshine. We need to hear and discuss all the sides. Here is the text that was removed by them.
Bitcoin ATM networks are simultaneously expanding and retracting due to coronavirus precautions. ... China. PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M. Sebastian ... Binance claims the PBOC’s system will allow fund transfers without the need for a bank account using what it terms ‘decoupled’ banking.China’s Digital Currency Will Be Two-Tiered, Replace Cash: Binance written by William Foxley @ https://www.coindesk China’s plans for a state-backed cryptocurrency could eliminate the need for bank accounts, new research has suggested. A report published by Binance, the world’s largest cryptocurrency exchange, gave an overview of what China’s central bank digital currency is expected to look like and how it will compare to bitcoin and Facebook’s forthcoming Libra currency. Based […] The warning also stressed china’s non-support of crypto as companies and individuals cannot transact with the virtual currency. Story so far, China’s continued fight against crypto. In Nov.21, People’s Bank of China warned that it was taking action against organizations that involved in trading in crypto like bitcoin. The first bitcoin ATM in mainland China, which was installed four years ago in Shanghai, has ceased to provide exchange services to bitcoin investors in response to Chinese authorities’ requirements to suspend crypto trading, according to Shanghai-based Jiefang Daily.. Now the bitcoin ATM resides at the BTCChina’s Shanghai office. A Shenzhen-based blockchain startup showed how a Bitcoin ATM works at the China Hi-Tech Forum 2018 which was held in Shenzhen in November. The physical machine which is developed by the firm allows users to buy and sell cryptos with fiat money using an appropriate crypto wallet on their smartphone. In this way, users can purchase cryptocurrency without a bank account, debit card or credit card ... China’s central financial institution, the Folks’s Financial institution of China (PBOC), revealed a draft regulation this Friday that goals to offer regulatory framework and legitimacy for a forthcoming central financial institution digital foreign money (CBDC), the digital yuan. The draft regulation states that the yuan is the official foreign money of the Folks’s Republic of […] The first bitcoin ATM appears On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash China’s CBDC is undergoing its pilot project. Companies like Chinese Uber, DiDi Chuxing, among others are partnering with the PBoC for the test. This means JD is not the first firm to cooperate with PBoC on CBDC development. However, China’s CBDC pilot test has been progressing. In addition to the big players such as Binance, Huobi, and OKex, there are some smaller but still significant Chinese exchanges. LBank, ZB, and BKEX are some of the other large Chinese exchanges that process hundreds of millions of dollars a day in volume. -Chapter 5 Bitcoin Mining in China. Despite a lack of official support for the industry, China is the undisputed leader in Bitcoin mining ...
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