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Tuesday

22 June 2021

Shanghai Man: Bitcoin interest drops in China amid crackdown on social media and miners

Shanghai Man: Bitcoin interest drops in China amid crackdown on social media and miners


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On June 9, a district government in western Xinjiang issued a "notice to immediately suspend virtual currency mining enterprises." The report announced that companies engaged in digital currency mining must halt production by 2PM on June 9 and report the suspension to a local reform commission.

Alibaba has come under the microscope back in China for it lending practices, so it’s no surprise that Alibaba and other Chinese companies might want to diversify their financial offerings in other regulatory regions.

China technology experts Winston Ma and Paul Schulte covered a number of topics including blockchain, central bank digital currencies and even some more controversial geo-political issues.

On June 8, the Hong Kong Monetary Authority released a "Fintech 2025" strategy to enhance research on a central bank digital currency.

The Hong Kong Monetary Authority is working with the Innovation Hub of the National Bank for Settling and Clearing to bring a central bank digital currency to the retail level

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