Binance CEO Changpeng "CZ" Zhao and other senior executives have been for years concealing the crypto exchange ties with China, according to documents obtained by the Financial Times.In a report on March 29, FT claims that Binance had substantial ties to China for several years, contrary to the company's claims BinanceBitcoinChinaconcealedCrackdownCryptocryptoexchangeExchangesReportTiesYears Read More
Chinese officials have been actively developing its fintech industry, with a strong focus on blockchain technology, despite their stringent stance on cryptocurrencies.On March 28, the Ministry of Industry and Information Technology (MIIT), a watchdog for the Chinese fintech industry, said it intends to improve standards for its blockchain technology development BlockchainChinaNationalStandardsupgrade Read More
Amid rising global inflation and fear of a worldwide banking crisis, the demand for risky assets, including Bitcoin, has significantly spiked in the recent past.
Crypto exchanges have been outlawed in mainland China since 2017, while digital assets like Bitcoin were banned in 2021. However, mainland China residents are eager BinanceBitcoinChinaHungerKYCMainlandResidentsShowSubverting Read More
Binance, the world’s largest cryptocurrency exchange, has made significant efforts to be a leader in transparency in the industry since the FTX scandal. However, a new report claims that Binance insiders are allegedly helping users bypass security protocols. According to a CNBC investigation, employees and volunteers at Binance have allegedly been AllegedlyBinanceBitcoinBypassChinaControlscryptoexchangecustomersEmployeesExchangesKYC Read More
Some Binance employees and volunteers shared tips on forging bank documents, falsifying addresses or hiding the country of origin to get a Binance debit card, CNBC reported, citing Chinese-language chatroom messages it translated.
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As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam. Putin expressed that using national currencies for international trading BitcoinChinacryptoexchangecurrenciesEconomicsExchangesMoveNationalNewsPutinRussiaSettlementsVowYuan Read More
Perth Mint, Australia’s official bullion mint, currently faces a $9 billion recall from China for allegedly selling “doped” bullion and attempting to cover it up, as reported by Australia’s ABC News. The practice of doping gold involves adding impure ore like silver to the mix to cut costs and lower BillionBitcoinChinacryptoexchangeDopedExchangesFacesGoldMintNewsPerthRecallScandal Read More
The Chinese government has plans for a governmental overhaul, according to a new announcement. This includes introducing a new national financial regulator.On Tuesday, March 7, the government announced that its current banking and insurance watchdog, the China Banking and Insurance Regulatory Commission (CBIRC), will be abolished. The responsibilities which previously AnnouncesChinaFinancialNationalPlansRegulator Read More
Billionaire Mark Mobius, founder of Mobius Capital Partners, says he cannot take his money out of HSBC in Shanghai, China. Citing severe capital control by the Chinese government, he stressed: “It’s crazy … They’re putting all kinds of barriers.”
Mark Mobius Has Trouble Getting His Money Out of HSBC in China
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A large footprint in China, which creates skepticism about data safety, and a heavy subsidy spend, means Filecoin needs more than a token rally to be sustainable.
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