China Financial News

The United Nations has received “credible allegations” that more than 100 former members of the Afghan government, its security forces and those who worked with international troops have been killed since the Taliban took over the country in mid-August, Secretary-General Antonio Guterres says.

Bitcoin, the most active cryptocurrency, recovered nearly 15 per cent to trade at $37,600 levels at the time of this article. Bitcoin, along with many other cryptocurrencies, had a fantastic yet volatile run in 2021, hitting all-time highs.Negative sentiments prevailed The price correction was imminent to test the support levels. Despite some bargain buying at lower levels by both institutions and retailers, many remained on the fence due to the overall negative sentiments in the financial markets.

The global cryptocurrency market capitalisation fell 3.11 percent over the last 24 hours to $1.67 trillion while the trading volume over the same period dipped by 4.98 percent to $55.89 billion.

BEIJING — Covid-related restrictions have increased production costs for Chinese electric car start-up WM Motor, even as existing chip and battery shortages are driving up costs, CEO Freeman Shen told CNBC.

The Cyberspace Administration of China (CAC) announced the commencement of an in-house effort to expedite blockchain development and innovation across 15 zones and 164 entities. 

In the world of digital finance, where the weapon of choice for a heist is a computer rather than a semi-automatic firearm, tracking down scams and frauds from across the world becomes a near-impossible feat for centralized police forces. 

BTCWith an increase in the number of retail investors dabbling in derivatives trading and investors hopping into decentralized exchanges (DEXs) due to regulations in the United States and China, there has been a rise in users utilizing derivatives DEXs, with Bitcoin (BTC) whales moving into derivatives and an increase in buying interest in derivative contracts.

It was only a matter of time before China slapped a ban on Bitcoin (BTC) mining, trading and crypto services. To do anything with Bitcoin anywhere in the People’s Republic, one needs a special exemption. The Chinese government’s given reason for the Bitcoin crackdown is to reduce its well-documented climate impact. Regardless of the amount of truth in this explanation, one thing is clear: China’s righteous anger toward electricity-guzzling and carbon-spewing mined cryptocurrencies in the service of Earth’s climate is only the first shot in an impending global showdown over Bitcoin and other crypto projects that rely on proof-of-work (PoW), the complicated crypto security mechanism we subsume under “mining.” This does not seem like a battle crypto can or will win.

Baroness Helena Morrissey has been an executive at multiple asset managers and is a noted City diversity campaigner

The Chinese central bank, the People’s Bank of China (PBoC), is gearing up for what will be the biggest week yet for its digital yuan. And while the token remains officially in its pilot phase, it will be showcased to the world next week as the Winter Olympics begin. Domestic adoption plans will also go into overdrive – as the nation celebrates the Lunar New Year.

The Bitcoin (BTC) mining network contributed less than 0.08% to the world’s total carbon dioxide (CO2) emissions, according to digital asset investing firm CoinShares. Data obtained by the company suggests that BTC mining is responsible for a marginal share of the global CO2 emissions, in particular when compared with the variety of services that are facilitated by the use of the cryptocurrency.

China’s ban on cryptocurrency mining forced Bitcoin entrepreneurs to flee overseas. Many were heading to Texas, which is quickly becoming the next global cryptocurrency capital. Different executives within this region have opened their paths to allow Bitcoin miners to shift and operate here. Having said that, Bitcoin mining criticized for its energy-intensive operations.

BEIJING — China's forthcoming rules on overseas IPOs will apply to Chinese companies that want to list in Hong Kong, the China Securities Regulatory Commission told CNBC on Friday.

China’s food delivery giant Meituan has become the latest tech firm to integrate central bank digital currency (CBDC) payments for its services.

Imbalances in the Chinese economy have worsened and delayed China’s transition to consumption-led growth, the International Monetary Fund said in an annual review on Friday, slashing its outlook for the country this year.

The global cryptocurrency market capitalisation rose 2.65 percent over the last 24 hours to $1.66 trillion while the trading volume over the same period fell drastically by 99.91 percent to $79.04 billion.

Baroness Helena Morrissey has been an executive at multiple asset managers and is a noted City diversity campaigner

Bitcoin (BTC) bulls are probably quite disappointed with how the start of 2022 has shaped up, especially since the cryptocurrency plunged over 20% in the first 25 days of the year. Even more shocking is the fact that the supposed $32,930 bottom on Jan. 21 was the lowest level BTC price had seen in 6 months, while equity markets as measured by the S&P500 reached an all-time high on Jan. 4. 

Crypto-advocating lawyers and pro-crypto pressure groups are gearing up for a fresh fight in Washington – as another piece of legislation that could potentially restrict the sector’s ability to grow has appeared on the political landscape. However, one influential lawyer has claimed that the crypto community should “not lose any sleep” over the matter.

Researchers in Norway say COVID-19 was likely far more widespread in Europe, and around the world, before a first official diagnosis was made.

BRUSSELS—The European Union hit back against China’s targeting of one of the bloc’s smallest members over its ties to Taiwan, opening a new front in the global battle over Beijing’s use of economic pressure to advance political objectives.