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Fake financial products worth 3 billion signals regulatory storm in China banking industry

Apr 19, 2017

18th April Beijing-It is reported that on-site inspection to the Chinese banking industry has been conducted throughout the country. CBRC, China Banking Regulatory Committee, has released 7 regulatory documents since 28th March. The on-site inspection is to implement these regulatory m...

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China regional bank achieve 30million loaning via blockchain-based billing system

Apr 17, 2017

15th April Ganzhou-The throughput of blockchain-based bank billing system has reached 30 million RMB since the first transaction was completed one month ago. Ganzhou Bank is a local bank based in Ganzhou City, Jiangxi Province. However, the report doesn't disclose specifics about the bo...

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Asian Exchanges Employ Most In Crypto Industry

Apr 11, 2017

Most full-time employees of the cryptocurrency industry are employed by companies based in Asia-Pacific, followed closely by North America - specifically the US - says a new Global Cryptocurrency Benchmarking Study by the Cambridge Centre for Alternative Finance that was distributed i...

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Why PBOC leads in digital currency R&D?

Mar 31, 2017

Zhou Xiaochuan, the governor of PBoC was cited at the Boao Forum, an important annual conference held in Hainan province. “If everyone is holding cash, even negative interest rates policy is not able to stimulate the economy. With the popularity of digital currency, cash usage will...

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SHIE test PBFT-based blockchain platform with 300TPS performance

Mar 29, 2017

March 28,Shanghai- The Shanghai Insurance Exchange(hereinafter referred to as the “SHIE"), together with nine insurance institutions, successfully verified the feasibility of insurance credit on the consortium blockchain platform from the four dimensions: function, performance, safety, op...

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No real breakthrough in 3 core blockchain technology

Mar 24, 2017

"From my observation, China's blockchain research and development is still in its early stage. Not only in China, even in the world, there are no real breakthrough in terms of the core technology of blockchain." Li Lihui said on Boao Forum on 24th March as per a local report. Li, ex-...

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Huobi Begin to require stricter AML procedures for users.

Mar 24, 2017

Recently, One of the leading Chinese bitcoin exchange, Huobi.com has sent a notification to  some of its users to inform them of a set of new Anti-Money-Laundry(AML) requirements. Regarding to Huobi’s new policy, Huobi users with potential money laundry risks are now requi...

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China’s Securities Association Highly emphasizes Blockchain

Mar 22, 2017

Recently, Ouyang Changqiong, the Deputy Head of Securities Association of China(SAC), representative of  National People's Congress（NPC） and member Financial Committee of NPC,  noted that Blockchain technology will be taken seriously by SAC in the future: " People...

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PBOC to release regulatory guidelines for Bitcoin exchanges

Mar 17, 2017

As per a local report, PBOC will release guidelines to regulate Bitcoin exchanges under the AML framework. Bitcoin Exchanges are required to collect customer information to verify their identity, to establish internal control system to alert suspicious transactions. PBOC will be respo...

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PBOC official: 6 red lines that bitcoin exchanges must not breach

Mar 13, 2017

note: Zhou Xuedong is the representative of NPC and the Director of PBOC Operation Management Department. During the two sessions, he submit 10 proposals, one of which is about the management of bitcoin. Below is the transcript of his speech on the meeting of two sessions. The secon...