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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

Bitmain's Board Makes Decision Ousting Co-Founder Ketuan Zhan

As reported by Utoday, crypto mining giant Bitmain ousts its co-founder and executive director after Jihan Wu, another co-founder and now chairman, sent an email announcing Ketuan Zhan would be dismissed from his position. Zhan, a major stakeholder holding 36.5% of the company will immediately stop all operating and internal procedures. This announcement comes with shock to … Continue reading Bitmain's Board Makes Decision Ousting Co-Founder Ketuan Zhan

Shenzhen Warns Against the Resurgence of Illegal Activities Owing to the Promotion of Blockchain Technology

According to a report, the Shenzhen Municipal Bureau of Local Financial Supervision said that the Office of the Leading Group for Special Remediation of Internet Finance Risks in Shenzhen has warned about the seeming resurfacing of illegal activities as a result of interest in cryptocurrency, and thus, the office noted that it would begin conducting … Continue reading Shenzhen Warns Against the Resurgence of Illegal Activities Owing to the Promotion of Blockchain Technology

Shenzhen Taxation Bureau to Launch New Blockchain Tax System with Ping An Group

Ping An Insurance and the Shenzhen Taxation Bureau in China signed an agreement to start using blockchain, artificial intelligence (AI), big data, cloud computing, and other technologies to develop a management platform for taxation for all types of taxpayers in the Greater Bay Area. The Shenzhen Tax Bureau and Ping An will be working closely together to jointly develop … Continue reading Shenzhen Taxation Bureau to Launch New Blockchain Tax System with Ping An Group

Changpeng Zhao, CEO of Binance Opens Up About Bitcoin & Current Crypto Market Situation

On March 7, 2020, the Bitcoin price took a big blow by falling from a staggering $9200 mark to $7,000 and again taking a hit to mere $3,500, later bouncing back to $6,000. In our previous article, we shared what could possibly be the reasons for such a fall. Some analysts blamed the fall in … Continue reading Changpeng Zhao, CEO of Binance Opens Up About Bitcoin & Current Crypto Market Situation

Shenzhen Stock Exchange to Integrate Blockchain Technology to “Better Serve” China’s Capital Market Sector

The Shenzhen Stock Exchange, also known as the Shenzhen Stock Connect, has signed an agreement with the Guangdong Equity Exchange to jointly work on further developing the use of blockchain technology in the capital market sector. Shenzhen, located in the south of China, has been known as part of the Greater Bay Area, which integrates … Continue reading Shenzhen Stock Exchange to Integrate Blockchain Technology to “Better Serve” China’s Capital Market Sector

Bitmain Business Booming Despite Public Feud Between Co-Founders Jihan Wu and Micree Ketuan Zhan

Mining giant Bitmain continues to accelerate—signing a new $23 million Antminer S19 Pro Contract with Marathon Patent Group—despite the public feud between its co-founders Jihan Wu and Micree Ketuan Zhan dominating the news over the last year. Global leader in cryptocurrency and Bitcoin mining equipment, Bitmain has continued to expand its business with an announcement today that … Continue reading Bitmain Business Booming Despite Public Feud Between Co-Founders Jihan Wu and Micree Ketuan Zhan

China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan

As a way to enhance the adoption and continue to test its digital currency dubbed the Digital Currency Electronic Payment (DCEP), China’s central bank, the People’s Bank of China (PBOC), has teamed up with Shenzhen city to distribute coins worth 10 million yuan, approximately $1.5 million to residents. Deployment of a promotion strategy The city’s … Continue reading China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan

China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed

As part of China’s rollout of its central bank digital currency (CBDC), the government had a $1.5 million giveaway of digital yuan to its citizens in Shenzhen. However, users have said that they preferred existing payment tools such as the existing Alipay app. As of Oct. 18, 47,573 out of 50,000 lottery winners have already … Continue reading China’s $1.5 Million Digital Yuan Giveaway in Shenzhen Left Analysts Excited, Citizens Unimpressed

Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event

As part of its continued efforts to launch its digital yuan dubbed the Digital Currency Electronic Payment (DCEP), China’s central bank is scheduled to test its central bank digital currency for the second time in Suzhou on December 12. The city located in Jiangsu Province of East China will play host to a shopping festival … Continue reading Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event