In Brief A Beijing court sentenced former financial official Hao Gang to 11 years in prison for bribery and Bitcoin-related money laundering. Investigators found that Gang accepted millions in bribes to assist Bitcoin mining firms and help a senior executive evade travel restrictions. Despite these efforts, China’s approach to cryptocurrency regulation remains inconsistent, with conflicting…
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In Brief China maintains a strict ban on cryptocurrency trading since September 2021, yet interest in Bitcoin surges. Despite the ban, the underground crypto market in China shows resilience with significant transaction volumes. Hong Kong’s open approach to digital assets and the economic downturn push investors towards crypto. Recent developments have sparked discussions on whether…
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Briefly Hong Kong’s progress in developing a stablecoin regulatory framework suggests a shift in China’s crypto policy. Even Coinbase and other international cryptocurrency exchanges were invited to register in Hong Kong by a legislator. Central area China’s white paper on Web 3.0 development further recommends a likely lift of the Chinese prohibition on crypto. China…
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Briefly China’s history with cryptocurrencies is complex, characterized by frequent prohibitions and their effect on the cryptocurrency market. China’s hardline stance on cryptocurrencies may be changing, according to recent signs, drawing significant international attention. The Chinese ban on cryptocurrencies could be lifted, resulting in increased demand and prices for cryptocurrencies. China’s position on cryptocurrencies has…
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