Category: China

China’s Inner Mongolia hires contractor to search for illegal crypto mining

China’s Inner Mongolia hires contractor to search for illegal crypto mining

The Development and Reformation Commission of China’s Inner Mongolia, previously one of the crypto mining hubs in China, said on Wednesday that it has hired a contractor to help the state monitor for illegal mining operations. The commission selected Inner Mongolia Mengze Engineering Management Limited, just one week after it opened the bid to the […]

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China’s Hebei Province Begins Crackdown on Crypto Mining and Trading, Reports Reveal

China’s Hebei Province Begins Crackdown on Crypto Mining and Trading, Reports Reveal

Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of the region’s computing power in the crypto activities which the government considers illegal. Cyberspace Watchdog […]

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Tether says it doesn’t hold any commercial paper issued by Evergrande

Tether says it doesn’t hold any commercial paper issued by Evergrande

Stablecoin issuer Tether says that it doesn’t hold any commercial paper issued by the Chinese real estate giant Evergrande. This comes amid concerns that Evergrande’s struggles might impact the commercial paper market. “Tether does not hold any commercial paper or other debt or securities issued by Evergrande and has never done so,” said a spokesperson […]

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Ethereum’s Hashrate Hits New Highs as Miners Resume Operations Outside China

Ethereum’s Hashrate Hits New Highs as Miners Resume Operations Outside China

Ethereum’s hashrate has recently reached a new all-time high (ATH) as miners have resumed operations despite the hostile approach undertaken by Chinese authorities earlier this year. China Clampdown Disrupts Ethereum’s Rally Recall that Ethereum’s hashrate had hit a peak of 632.8 TH/s on May 19, 2021, following increased activities on the network just after ETH […]

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Business as Usual But Bitcoin Price is Immune: Another Chinese Province Bans BTC

Another Chinese province has decided to follow the example and halt cryptocurrency mining and trading. While this continues to be the ongoing trend coming from China this year, the price of bitcoin has not dumped this time, as it did during the previous set of adverse developments. One More Chinese Province Goes After Crypto The […]

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Tencent mints NFTs to digitize a world heritage — on a private blockchain

Tencent mints NFTs to digitize a world heritage — on a private blockchain

Chinese technology giants have made moves into the non-fungible token (NFT) space but in a localized way where crypto-native features are removed. Tencent announced Wednesday that it has partnered with the Dunhuang Academy to digitalize the landmark wall paintings of the Mogao Caves, a UNESCO world heritage site in China’s Gansu province. The project is Tencent’s […]

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Bitcoin’s hash rate has recovered by 50% since June crash

Bitcoin’s hash rate has recovered by 50% since June crash

Bitcoin’s seven-day moving average hash rate has steadily recovered to the midpoint between its all-time high and recent lows. The Block’s Data Dashboard shows bitcoin’s average hash rate reached 135 exahashes per second (EH/s) on Thursday. That’s up 50% since its low of around 90 EH/s in early July but is still 50% down from […]

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Oil Producers and Bitcoin Miners Meet in Texas to Discuss Cooperative Mining Possibilities

Oil Producers and Bitcoin Miners Meet in Texas to Discuss Cooperative Mining Possibilities

A meetup in a vehicle warehouse in Houston served as an encounter point for oil producers and bitcoin miners to talk about possible on-site crypto mining opportunities last week. More than 200 investors attended the meeting to talk about an alliance, that would allow oil producers to make more efficient management of their resources and […]

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Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With […]

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