China to Create Blockchain Research Institute

Blockchain, FinTech, Group, Innovation, Regulation, Uncategorized | September 6, 2017 By:

China’s Ministry of Industry and Information Technology will be creating a blockchain research institute in Qingdao.

The Ministry of Industry and Information Technology, which is directly under the China Electronic Information Industry Development Research Institute, collaborated with Beijing Tiande Technology to accelerate the pace of technological research by establishing a research institute.

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Report: China Regulators Considering New ICO Limits

Crime, FinTech, Investing, News, Regulation | August 30, 2017 By:

A Chinese news service is reporting that China’s regulators have met to discuss growing concerns about the initial coin offering (ICO) market.

China’s regulators have been scrutinizing cryptocurrency and its exchanges since late last year, increasing the pressure in early January by limiting withdrawals at the exchanges and raiding several businesses to make sure they were complying with money-laundering rules.

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China Exchanges Used Client Funds for Own Gains, Report Claims

Crime, FinTech, Investing, News, Regulation | August 22, 2017 By:

A Chinese news agency has reported that bitcoin exchanges Huobi and OKCoin invested client funds into risky financial instruments for their own gain.

The state-owned Xinhua Agency newswire reported late last week that Huobi and OKCoin collectively put a billion yuan (about $150 million US) in idle client funds into high-yielding but risky wealth management products.

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