China Financial News
13.01 / 18:26
BLOCK
Platform
boost
Chinese Economist Suggests China Spend More to Boost Its Birthrate—and Is Blocked From Social Media
SINGAPORE—China suspended the social media account of a popular Chinese economist, days after an article that he wrote, suggesting that the country spend $314 billion to boost its fertility rate, went viral online.
13.01 / 16:53
China Looks to Secure Supplies as Strains With U.S. and Its Allies Grow
Beijing is trying to fortify the Chinese economy against a prolonged period of tension with the U.S. and other countries, stockpiling some essentials and planning on more domestic production as it accelerates efforts to make China less dependent on the world.
13.01 / 16:41
Blockchain
regulation
retail CBDC
committee
UK Economic Affairs Committee unconvinced by prospect of retail CBDC
The House of Lords Economic Affairs Committee — an investigative governing body representing the economic interests of the United Kingdom — has released an official report assessing the pertinence of a government-issued central bank digital currency (CDBC).
13.01 / 13:42
Government
Law
Court
Bitcoin
Pakistan’s central bank reportedly wants to ban crypto
The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan.
13.01 / 13:42
Blockchain
Adoption
China aims to separate NFTs from crypto via new blockchain infrastructure
China is planning to draw a clear line between cryptocurrencies and nonfungible tokens (NFTs), pretty much the same way it did with its digital currency efforts, before the crypto crackdown in the country harms the local NFT industry.
13.01 / 01:31
Blockchain
Investments
Trading
Funding
Citadel Securities takes in $1.15B investment from Sequoia and Paradigm
Citadel Securities announced that VC firms Sequoia and Paradigm made a $1.15 billion combined minority investment in the market maker, bringing its valuation to $22 billion. The partnership with Paradigm, a Web3-focused investor, signaled Citadel Securities’ shift toward new asset classes such as crypto.
12.01 / 22:04
cryptocurrency
Mining
Latin America
Bitcoin
boost
Power
Bitcoin & Crypto Mining Gets Another Latin American Hydroelectric Power Boost
The future of Bitcoin (BTC) and crypto mining could involve a move away from coal and Asia – and toward hydroelectric energy and the Latin America region, with a Costa Rican power plant now feeding electricity to “hundreds” of mining rigs.
12.01 / 18:31
Digital
Apple
Tencent
China's digital yuan wallet arrives in Android and Apple app stores
The wallet app has so far been available on an invitiation-only basis, but its arrival on the app stores signals the central bank's determination to seed the technology across the population ahead of the showcase Winter Olympic games in Shanghai next month when it will compete for traction against the dominant commercial payment apps from Ant Group and Tencent.
12.01 / 18:19
Government
regulation
Federal Reserve
lawmaker
US lawmaker proposes bill aimed at limiting Fed's ability to issue CBDC
Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar.
12.01 / 16:53
cryptocurrency
economics
Bitcoin
US Inflation Jumps Most in 40 Years, Bitcoin, Ethereum Gain
In December, monthly inflation in the US was a bit higher than expected, reaching 0.5%, while the annual inflation increased to 7% and was the same as expected.
12.01 / 01:33
markets
Bitcoin
Bitcoin Price
Key on-chain metric shows Bitcoin miners in ‘massive’ BTC accumulation mode
New data shows that Bitcoin (BTC) miners are hoarding more coins than at any time in the past five months, which could be a fresh signal that the current prices are not for selling.
11.01 / 23:56
Why Bridgewater’s Ray Dalio is backing China’s push for prosperity under President Xi Jinping
Bridgewater Associates founder Ray Dalio backed China’s push for “common prosperity”, or greater equality, under President Xi Jinping and said countries such as the US could benefit from a similar approach.
11.01 / 22:19
markets
Ethereum
Ethereum futures and options data reflects traders’ mixed emotions on $3.2K ETH price
Ether (ETH) has been an emotional rollercoaster over the past three months primarily because its price rallied twice. First it peaked at $4,870 on Nov. 10 and at $4,780 on Dec. 1. However, the double top was quickly followed by a harsh rejection which led to $490 million in long futures contract liquidations in 48 hours.
11.01 / 21:21
Government
Federal Reserve
Senate
lawmaker
crypto legislation
US lawmaker hints at upcoming crypto legislation as Jerome Powell says Fed will release report on digital currency soon
At his confirmation hearing in front of members of the Senate Banking Committee, Federal Reserve chair Jerome Powell said the agency would be releasing its report on cryptocurrencies “within weeks.”
11.01 / 19:55
UPS
China Covid-19 Lockdowns Hit Factories, Ports in Latest Knock to Supply Chains
HONG KONG—With Covid-19 flaring up across China, major manufacturers are shutting factories, ports are clogging up and workers are in short supply as officials impose city lockdowns and mass testing on a scale unseen in nearly two years.
11.01 / 17:40
Blockchain
Adoption
Charity
Green and gold: The crypto projects saving the planet
It seems as though the potential benefits of cryptocurrency are often overshadowed by the technology’s inherent vulnerability to exploitation.
11.01 / 15:33
Ethereum
Bitcoin
Bitcoin ban: These are the countries where crypto is restricted or illegal
Bitcoin has been controversial since its beginning in 2009, as have the subsequent cryptocurrencies that followed in its wake.
11.01 / 15:33
CBDC
Adoption
Central Bank
Winter Olympics
International
Digital Yuan Ready for International Olympic Showcase at Beijing 2022 Games
China will allow overseas visitors from around the world to use its digital yuan for the first time at next month’s Winter Olympics, the central People’s Bank of China (PBoC) has confirmed.
11.01 / 10:41
Why Bridgewater’s Ray Dalio is backing China’s push for prosperity under President Xi Jinping
Bridgewater Associates founder Ray Dalio backed China’s push for “common prosperity,” or greater equality, under President Xi Jinping and said countries such as the US could benefit from a similar approach.
11.01 / 04:21
CBDC
Adoption
Central Bank
Winter Olympics
Chinese App Marketplaces Report Massive Growth in Digital Yuan Wallet Downloads
China is teasing the launch of its digital yuan again, riding a wave of adoption with just weeks to go until the Winter Olympics in Beijing – the event the government hopes will finally allow the central People’s Bank of China (PBoC) to showcase its coin to the world.
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