Last week, China’s central bank has declared all cryptocurrency-related transactions illegal and issued a nationwide ban on crypto mining.
“Virtual currency-related business activities are illegal financial activities,” a statement on the People’s Bank of China website reads.
According to the central bank,
Conflux, the only state-endorsed public blockchain in China, is launching a cross-chain bridge that brings interoperability between and across Binance Smart Chain, OKExChain, and Huobi ECO Chain.
Conflux is a permissionless Layer 1 public blockchain connecting decentralized economies across borders and protocols.
Switzerland-based global industry organization Bitcoin Association has appointed Aaron Zhou as its first China-based technical outreach specialist.
Bitcoin Association brings together merchants, exchanges, application developers, enterprises, miners and others in the bitcoin ecosystem to advance the growth of bCommerce (Bitcoin commerce).
Gambling-related risks have always been a problem for China. Gambling in China is illegal and the only places where it’s permitted are the gambling center of Macau, Taiwan, and Hong Kong. This often causes lots of illegal activities. Especially, it applies to cryptocurrencies which have long been associated with fraud in China.
Global sharing marketplace ShareRing has been selected to join China’s Blockchain-based Service Network (BSN).
ShareRing is an on-demand, two-sided marketplace that brings together sharing services across all industries and geographies, with share economy users who can securely access, connect and pay for these services anywhere in the world.
Blockchain startup Digital Asset has signed an agreement with Hong Kong-based company Red Date Technology to integrate DAML smart contract technology with Blockchain Services Network (BSN), a global infrastructure backed by the State Information Center of China (SIC).
Digital Asset builds products based on distributed ledger technology (DLT) for regulated financial institutions.
Blockchain protocol Aeternity has announced six new Chinese projects built on its highly scalable blockchain.
Founded in 2016 by the so-called “Godfather of Ethereum,” Yanislav Malahov, Aeternity is a public, open-source, blockchain platform offering means for a decentralized future realized by a global community.
A group of Chinese conglomerates and organizations are set to launch its national blockchain platform on April 25. The platform, called the Blockchain-based Service Network (BSN), aims to help Chinese companies adopt blockchain faster and at a lower cost. Where it would usually cost approx.
As China thrives to join the world in setting standards for this emerging technology, the president of the country, Xi Jinping, announced that China would take the opportunity and start to invest in blockchain.
China appears to be set on the potential of blockchain,
Tencent, one of the largest internet companies in China has recently started gathering a research team for digital currencies. The news broke out when the company posted a job application for the research team chief with a job description of testing and finding out various uses of digital currencies in different sectors.
