Saturday, December 7, 2019
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China’s Hainan Free Trade Zone Pledges $140M in New Blockchain Support

Blockchain will continue to see major investment from China’s Hainan Free Trade Zone (FTZ) with new funds fostering local businesses.As local English-language news outlet Xinhua Net reported on Dec. 5, Hainan’s dedicated economic pilot zone has pledged to boost the role blockchain tech plays in the local economy. Free Trade

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China’s Digital Yuan Will Favor Payments and Retail

China’s digital currency approach will be favoring international payments and domestic retail system, a former senior official said.Zhou Xiaochuan, the president of the Chinese Finance Association and former governor of the People’s Bank of China (PBoC), outlined two types of implementations of central bank digital currencies (CBDCs) speaking at

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Pressure pushes Bitcoin below US$7,000 as clampdown by China’s central bank spooks cryptocurrency traders

A rally triggered by a wrongly translated message on President Xi Jinping’s support for blockchain has been wiped out, as the People’s Bank of China continues to come down hard on cryptocurrenciesBitcoin recovers some lost ground, but some see it sinking further. Bitcoin’s recovery is expected to be short-lived

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China’s Dive Into Blockchain, Digital ID Spurs Rest of World to Action

News on crypto and blockchain technology is coming in abundance from China. This became especially true in late October 2019, when the Chinese President Xi Jinping called for accelerating the use of blockchain technology in the country.President Xi identified dozens of use cases that should be promoted: loans, health

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China’s Second-Biggest Bitcoin Mining Equipment Manufacturer Raises $90M in U.S. IPO

China-based bitcoin mining equipment maker, Canaan Creative raised $90 million in its U.S. Initial Public Offering (IPO), after selling the IPO shares at the bottom of its marketed range, reports Bloomberg on November 21, 2019. Canaan Creative Raises $90 Million at IPO Per the report, Canaan Creative was able to raise $90

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Weibo’s Ban of Binance and TRON Accounts Questions China’s New Crypto Policy

Weibo, a Chinese microblogging social media platform, has banned accounts of Binance and TRON, two major crypto entities. The initial reason given for this blockage is “violation of laws and regulation” by the platforms. No further details are provided.Interestingly, the Weibo accounts of Binance CEO and TRON Foundation founder, Zhao

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China’s Zhejiang Processes $6M via DLT Medical Billing Platform

China’s Zhejiang province has processed nearly $6 million via a blockchain medical billing platform using Ant Financial’s blockchain technology, Chinese publication QNSB reports on Nov. 18. Successfully piloted in 2018, the blockchain-enabled platform allows citizens to make doctor’s appointments, get prescriptions as well as pay, record and store their

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