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Yonghui, Hema among supermarkets singled out by China's food safety watchdog for breaches

  Photo by Fancycrave on Unsplash Market regulator highlights 11 cases where supermarkets and online platforms sold food products that did not meet national food safety standards Zen Soo   Celia Chen   China’s market regulator has highlighted 11 cases of supermarkets and online platforms selling food products that did not meet national food safety standards, some of which are … Continue reading Yonghui, Hema among supermarkets singled out by China's food safety watchdog for breaches

China Declares Bitcoin as Virtual Property with Monetary Value

A property dispute involving Bitcoin was held in the internet court in Hangzhou, China on July 18, setting a new precedent by declaring that Bitcoin is virtual property with monetary value. According to the case of plaintiff Wu against defendants FXBTC and Taobao, it has been recognized that Bitcoin has the attributes of virtual property … Continue reading China Declares Bitcoin as Virtual Property with Monetary Value

Barred from Leaving China? Tron Founder Justin Sun Surfaces in San Francisco

After bidding a record $4.57 million for lunch with Warren Buffet, Justin Sun – the founder of Tron Foundation announced on Tuesday on his Weibo social media platform that he had to cancel the charity lunch, which was originally set for Thursday in San Francisco. Justin has been a well-known entrepreneur in China’s cryptocurrency community, … Continue reading Barred from Leaving China? Tron Founder Justin Sun Surfaces in San Francisco

Huawei’s CEO Responds to Facebook: China Can Issue Its Own Libra

Ren Zhengfei, CEO of China’s Huawei believes that China can create their own digital currency in response to Facebook’s Libra. In an interview with the Italian media, in response to a question, Ren Zhengfei responded with “China can also issue such currency by itself. Why wait for others to issue it?” Reported earlier this month, … Continue reading Huawei’s CEO Responds to Facebook: China Can Issue Its Own Libra

US Declares China a 'Currency Manipulator' while Bitcoin Sees Growth

The US Declares China a ‘Currency Manipulator’ The US Treasury Department officially designated China as a “currency manipulator” on Monday following the most significant stock market losses the US has seen in 2019. There was a 2.9% plunge overnight in the Dow Jones Industrial Average, Nasdaq down 3.4% while Bitcoin is up 3.2% as tweeted by Tim Draper.  In a … Continue reading US Declares China a 'Currency Manipulator' while Bitcoin Sees Growth

China’s Central Bank Accelerates R&D of its Legal Digital Currency

People’s Bank of China, the Central Bank of China made an announcement of the acceleration of the development of its legal digital currency. In July, former PBoC governor Zhou Xiaochuan warned that China must take precautions against Libra and must compete against them. The PBoC started to research on digital currencies as Bitcoin became increasingly popular.   Huawei’s CEO Responds to … Continue reading China’s Central Bank Accelerates R&D of its Legal Digital Currency

People’s Bank of China Announces Its Digital Currency is Ready

The Central Bank of China has announced that its digital currency can now be said to be ready.  In a major event, the China forum as reported by local news site Shanghai Securities News on August 10, the deputy director of the People’s Bank of China (PBoC) Mu Changchun stated that over five years of … Continue reading People’s Bank of China Announces Its Digital Currency is Ready

BTC Breaks Its Strong $10,000 Support Amidst US-China War Trade Cool Off

The price of Bitcoin has taken a serious hit in the past few days as the largest cryptocurrency has dipped below its supposedly strong support of $10k and bounced back up. Market visualization. Source: Coin360 The relief of the market as the tension eases off with Bitcoin taking the hit As the data reflects from coin360 … Continue reading BTC Breaks Its Strong $10,000 Support Amidst US-China War Trade Cool Off

China's Shenzhen Special Economic Zone Now Supports Digital Currency Research

The Central Committee of the Communist Party of China recently announced that the Shenzhen special economic zone would be supporting research and the promotion of digital currencies.   Shenzhen, a major city in China in the Guangdong area, is China’s first special economic zone.   According to China’s state media Xinhua, the announcement stated: “The Central Committee of the … Continue reading China's Shenzhen Special Economic Zone Now Supports Digital Currency Research

Bitcoin Hash Rate Remains Steady as Miners are Wiped Out by China Floods

Bitcoin network hash rate, an evaluation of the activity being undertaken by miners on a particular blockchain, has remained high despite the presence of floods in China. Nevertheless, some mining operatives have faced the wrath of being destroyed. On Twitter, several users have reported the disastrous effects of floods in Sichuan, a Chinese province. They … Continue reading Bitcoin Hash Rate Remains Steady as Miners are Wiped Out by China Floods

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