China

China initiated a clampdown on cryptocurrencies as early as late 2017, threatening their financial stability and sovereignty. Rumors suggest a potential policy change, but there’s scant indication that China will relax crypto restrictions soon. Chinese authorities have long been suspicious of decentralized digital currencies such as Bitcoin operating outside state control that they say pose […]

The Shanghai No.2 Intermediate People’s Court in China explained that Bitcoin (BTC) has emerged as a unique digital asset based on several characteristics, including its scarce nature. On September 25, the court released a report titled “Legal Attributes and Judicial Disposal of Digital Currency,” emphasizing the legal issues surrounding digital data and currency when compared […]

Huobi, one of the largest cryptocurrency exchanges, faced an outflow of $64 million between Aug. 5-6. This occurred due to rumors about the financial stability of the exchange and allegations that Chinese agencies were investigating its officials. However, the company’s total value locked (TVL) fell sharply, from $3.09 billion last month to only $2.5 billion […]