China giving away $6 million in Beijing digital yuan test
The Beijing Local Financial Supervision and Administration Bureau plans to give away 200 red envelopes to local residents, with each containing 200 digital yuan (around $31).
The Beijing Local Financial Supervision and Administration Bureau plans to give away 200 red envelopes to local residents, with each containing 200 digital yuan (around $31).
The region has proposed tough measures for those caught mining digital currencies, including social blacklisting that would deny them basic services like access to credit and even public transportation.
China is shaking down the digital currency market, forcing mining companies in the country to make drastic changes in their operations.
BIT Mining Limited will invest $25.74 million and jointly build and operate the Texas mining center with Dory Creek, a wholly owned subsidiary of Bitdeer, Inc.
Digital currency miners in China, including HashCow and BTC.TOP, halted all or part of their local operations after Beijing officials signaled a potential crackdown on BTC mining and trading activities.
The Inner Mongolia Development and Reform Commission has set up a dedicated hotline and email address for locals to report any suspected block reward miner.
The three groups believe that digital currencies are disrupting China’s economic order and urged traders to be cautious when investing in digital currencies, which “are not real currencies.”
The move was made possible by the involvement of MYbank, one of the leading internet-only banks in China, which is also majority owned by Ant Group.
The Beijing Municipal Bureau of Economy and Information Technology reportedly sent an "emergency notice" to the city's data center operators to report if they're involved in the digital currency mining businesses.
JD.com confirmed recently that aside from the employees, it has also been paying off some of its business partners with the digital currency.
PwC published its inaugural Global CBDC Index recently, measuring global central banks’ maturity level in deploying their own digital currency.
Forty of talented developers gathered last week on the beautiful island of Dong’ao, in Guangdong province, to attend the Bitcoin Association’s Bitcoin SV Bootcamp.