Tag: China

Bitcoin may benefit from China’s recent ban of all cryptocurrency transactions, according to crypto experts. “This is great news for Bitcoin,” said Ross Gerber, Gerber Kawasaki Wealth & Investment Management CEO. “The last thing we want is China to be involved in a currency of the world.” Bitcoin price fell about 6% after China announced…

China’s regulators banned on all crypto transactions and vowed to root out mining of digital assets, hitting Bitcoin and other major coins and pressuring crypto and blockchain-related stocks. According to Reuters, crypto-related transactions will be considered illicit financial activity, including services provided by off-shore exchanges, the People’s Bank of China said on its website. It…

The sudden drop in cryptocurrency prices and the overall market drawdown certainly demand an explanation. And while many analysts were quick to link the events with what’s happening in China, we may also be able to suggest some alternative reasons. On September 20, Bitcoin’s updated monthly low fell below $ 42,500. In just a day,…

The People’s Bank of China once again asserted its crypto crackdown stance at a recent media briefing. The Central Bank stated that virtual currencies like Bitcoin can’t compete with legal tender in the nation. The bank officials argued that cryptocurrencies are not backed by any real value. According to local media, Yin Yuping, deputy head…

China’s central bank deputy governor said the bank is “quite worried” about risks from private digital currencies, particularly so-called stablecoins, such as Tether, while China is testing its own digital yuan. According to CNBC translation, Fan Yifei of the People’s Bank of China (PBOC) has voiced concern that digital currencies pegged to a fiat currency…

Central bank digital currencies (CBDC) are a promising tool that will enable people to make payments quickly, inexpensively and without intermediaries. That is precisely why now the central banks of the world’s leading countries are conducting research and development, making plans to create their own digital currencies. However, the process doesn’t look particularly fast-rolling yet:…