Hotbit says that police are investigating an ex-employee for criminal conduct and that its funds have been frozen for this, impacting its day-to-day operations.
Shanghai's blockchain adoption plans include creating an innovation system with blockchain and promoting the development of its ecosystem with strong innovation capabilities and independent control.
According to a local news outlet, the court made the statement in a case reference book it shared via WeChat titled "Does Bitcoin Have Property? How to perform return delivery?"
A digital asset pyramid scheme that allegedly defrauded over RMB 100 million from 60,000 Chinese investors has been busted by police in Shanghai.
The government of China is calling for an “intensive and balanced layout of blockchain technology infrastructure” in 15 zones even after the digital currency ban.
This week marks the 13th year of the Bitcoin Genesis Block. It first appeared on January 3, 2009, containing the now-famous headline from The Times: “Chancellor on brink of second bailout for banks.”