Virtual Currency

Chinese President Xi Jinping said in a speech this week that blockchain — the technology underlying bitcoin — has “breakthrough” applications.

Police in the north China city of Tianjin confiscated 600 computers used to mine bitcoin cryptocurrency after the local power grid operator reported abnormal electricity usage, Xinhua reported Wednesday.

Thousands of China’s elites are currently gathered in Beijing for the “two sessions,” the annual meetings for members the National People’s Congress (or NPC, China’s rubber-stamp legislative branch) and the Chinese People’s Political Consultative...

Offshore platforms targeted after recent efforts to shut down domestic exchanges failed to eradicate trading.

China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter.

The most critical aspect about cryptocurrency for China to address is criminal activity.

Chinese investors are still trading bitcoin and buying initial coin offerings, suggesting authorities in Beijing are struggling to clamp down on cryptocurrencies just weeks after announcing that public exchanges would be shut down.

Three days after Chinese regulators outlawed cryptocurrency fundraising in early September, a woman met with half a dozen individuals at a Beijing golf club to pitch a digital-currency investment opportunity.

With administrators personally liable for what is said on groups they run, users of bitcoin exchanges OKCoin, Huobi and BTCChina are migrating to services beyond the Chinese government’s reach.

Chinese authorities are ordering domestic bitcoin exchanges to shut down, delivering a heavy blow to once-thriving trading hubs that helped popularize the virtual currency pushing it to recent record highs.

Chinese regulators ordered a halt to all virtual currency trading platforms in the country, acting to further rein in risks related to cryptocurrencies, Caixin learned from a source close to regulators.