People’s Bank of China Official Touts State-Issued Cryptocurrency

Blockchain, Investing, News, Regulation | October 16, 2017 By:

An official for a division of the People’s Bank of China (PBoC) has touted the need for a state-issued cryptocurrency that would be controlled by the government.

Yao Qian, the Director of the Digital Currency Research Institute, a division of the PBoC, made his pitch at a meeting hosted by the International Telecommunications Union.

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Report: China Regulators Considering New ICO Limits

Crime, FinTech, ICO, 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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