Tag Archives: PBOC

China Gets More Blockchain Censorship Powers Under New Rules

China’s crypto angst has shown no sign of abating as we enter a new year. Another raft of restrictive regulations has just been implemented for blockchain companies in the People’s Republic.Data Privacy Not Applicable in ChinaThe Cyberspace Administration of China (CAC) has just introduced more regulations for companies dealing with distributed ledger technology. According to the official announcement… Read More »

Dow Jones Makes a Comeback After Opening Bell Selloff; Cryptocurrencies Immune from the Chaos

U.S. stocks opened the year firmly on Wednesday, as fears of a slowing Chinese economy rippled across the financial markets. The major indexes have since recovered the bulk of their declines with the Dow Jones Industrial Average rebounding more than 300 points from the intraday low. Cryptocurrencies were largely immune from the chaos in traditional markets, as capital poured… Read More »

China: Shenzhen Special Economic Zone to Use Blockchain for Electronic Tax Invoices

Shenzhen, a major city in the Guangdong Province and the first economic special zone in  China, will use blockchain technology for electronic tax invoices. This development was reported by the China Economic Net, а domestic news website focusing on economics, on Dec. 12. The Shenzhen Municipal Taxation Bureau and Chinese tech giant Tencent have “successfully connected the blockchain… Read More »

Security Token Offerings ‘Illegal,’ Says Beijing Financial Watchdog

Huo Xuewen, chief of Beijing’s Municipal Bureau of Finance, has warned projects against holding security token offerings (STOs). At a recent wealth management forum hosted by the bureau on Saturday, Huo said that STO fund-raising activities are “illegal,” at least in Beijing. “I will issue a risk warning to those who promote and issue STO tokens in Beijing.… Read More »

Another Warning From China’s Central Bank on Cryptocurrency Risks

Very few positive stories come out of China with cryptocurrency in the headlines. This one is no different as the central bank has continued with its rhetoric over the risks of dealing with digital currencies.Same Old Story; Crypto Bad, Blockchain GoodThe People’s Bank of China has issued another warning over its perceived bubble effect associated with cryptocurrency investing.… Read More »

PBoC Looks to Tackle Airdrop Tokens Market in New Clampdown

The People’s Bank of China (PBoC), the country’s central bank, is looking to clamp down on airdrops – free distributions of crypto tokens. In its financial stability report for 2018, released on Friday, the PBoC said that “disguised” initial coin offerings (ICOs) including airdrops continue to grow in number, despite its previous efforts at cracking down on sales of… Read More »

PBoC’s Digital Currency Chief Departs to Lead Securities Clearing House

The former architect of China’s central bank digital currency (CBDC) initiative has left the position to head the country’s central securities clearing house. Yao Qian, who founded the Digital Currency Research Lab at the People’s Bank of China (PBoC) last year, has now taken up the role of general manager at the China Securities Depository and Clearing Corporation… Read More »

PBoC Is Seeking Blockchain Talent to Help Build Its Central Bank Crypto

The People’s Bank of China (PBoC) is looking to recruit blockchain tech and legal experts as it continues development of its central bank digital currency. According to various employment ads posted on Tuesday, the central bank is currently hiring four engineers with expertise on system architecture, chip design, blockchain development and application, cryptography and security protocol design. Based on… Read More »