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Tag Archives: Chinese

Chinese Gov’t Reiterates Strict Stance On Crypto, Focuses On Illegal Fundraising

The Chinese government has recently reiterated its negative stance towards Initial Coins Offerings (ICOs) and cryptocurrency exchanges at a news conference in Beijing, claiming that financial authorities will continue to monitor private lenders’ interest rates, securities companies, and futures firms to combat illegal fundraising, Reuters reports April 23. In a joint statement provided by several regulators, the People’s Bank of ...

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Hong Kong and Singapore Welcome Chinese ICOs

As China continues on the path of restrictive and ambiguous regulation over their growing fintech industry, tech companies are leaving in droves for the more welcoming shores of Hong Kong and Singapore. Hong Kong And Singapore Benefit from China’s Crypto Phobia Singapore and Hong Kong are experiencing an explosion in the number of companies launching ICO’s in the past few months and ...

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Chinese Police Arrest 4 Suspects For Alleged $13 Mln Crypto ‘Pyramid-Scheme’

Police in China’s northwestern city Xi’an have arrested a primary suspect and three accomplices for a suspected cryptocurrency “pyramid-scheme” that is alleged to have defrauded over 13,000 investors of ¥86 mln ($13 mln), local news reported April 18. The chief suspect, identified by his surname Zheng, allegedly began preparations for the scheme in October 2017, which used an altcoin called ...

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Chinese Police Shut Down Crypto Conference – The Merkle

Police in China shut down a blockchain conference on Thursday, citing security risks, in a move that was contested by the organizers of the conference. The 2nd Global Fintech and Blockchain China Expo 2018 (GFBC) was brought to a halt by the authorities, reportedly because the police suspected that the organizers invited a fraudulent ICO team that had defrauded a sizable ...

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$1.6 Billion Chinese Fund Launches in Support of Blockchain Startups

Blockchain startups in China now have a new source of funding they can tap into. Today, April 9, 2018, the Xiong’An Global Blockchain Innovation Fund launched with $1.6 billion (10 billion yuan) to funnel into promising Chinese blockchain startups. The announcement took place during the grand opening of the Hangzhou Blockchain Industrial Park in China. The industrial park, which will ...

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Chinese Blockchain Industrial Park Opens With $1.6 Bln Partially Govn’t-Backed Fund

A 10 bln yuan (around $1.6 bln) Blockchain innovation fund was announced today, April 9, during the opening of the Hangzhou Blockchain Industrial Park in China, local news outlet Lie Yunwang reports. The Xiongan Global Blockchain Innovation Fund is financed by the Yuhang District Government – 30 percent of the total funds are “government-guided” – the Future Science and Technology ...

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Chinese Private Equity Group Unites Blockchain and Investment Strategies

As cryptocurrencies continue to make their mark on the financial arena, many capital investment firms are looking to bring the power of the blockchain and traditional investment strategies together to give traders more opportunities in an adapting industry. Leading Chinese private equity group JD Capital is one of those firms. Founded in 2007 and headquartered in both Beijing and New ...

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Chinese Petro Giant Sinochem Exports Gasoline using Blockchain Tech

Join our community of 10 000 traders on Hacked.com for just $39 per month. Sinochem Group, China’s leading energy, chemicals, agriculture, real estate and finance provider, has successfully completed the shipment of gasoline using blockchain technology. Reuters reported that one of its 300 subsidiaries, Sinochem Energy Technology Co. Ltd., was responsible for exporting the product from China’s city, Quanzhou, to Singapore. While details ...

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