China
China Calls Crypto an ‘Investment’; Crypto Demand Bounces Back in Asia
China gives the “alternative investment” label to crypto and hints at reserving a seat for digital assets in the country’s digital economy. Meanwhile, exchanges in Asia recover from crypto’s weekend price crash and see spikes in bitcoin long orders. More on that story and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
PBoC Softens Tone Toward Bitcoin, Stablecoins, Calling Them 'Alternative Investment'
The deputy governor said bitcoin and stablecoins were investment options and not currency during the Boao Forum on Sunday.
Did a Coal Mine Accident in China Impact the Bitcoin Hashrate?
A series of accidents at Chinese coal mines cut power to several Chinese bitcoin miners, which has made a slight impact on the overall bitcoin hashrate. Christie Harkin explains the situation. Plus, is bitcoin due for a correction, or will the bull market continue?
How Accidents in Chinese Coal Mines Are Affecting Bitcoin Mining
The explosions took nearly a quarter of Bitcoin's hashrate offline, but the network is operating normally and these miners could be back online in as soon as a week.
US Policy Adviser Rebuts Peter Thiel: Bitcoin Won't Undermine USD
One policy maker says China is unlikely to use bitcoin as a financial weapon against the U.S. dollar.
Dogecoin Swells Over 80% in Asia Hours; China’s CBDC Pilots Turn One
Dogecoin prices surged during Asia trading hours, thanks to celebrity hype from Tesla CEO Elon Musk and fellow billionaire Mark Cuban.
China’s Digital Yuan Is No Threat to US Dollar, Says Bank of Japan Official: Report
“The dollar’s status as the key global currency won’t change so easily,” BOJ’s head of payments told Bloomberg.
Tech Consortium to Spend $1.3B to Build Filecoin Mining Facility in China
Upon its completion, the facility will be the largest filecoin distributed storage infrastructure project in China.
IMF Wants More Crypto Supervision in the Philippines
Crypto exchanges in the Philippines are in the crosshairs of the International Monetary Fund. The IMF warns the country’s financial sector status could diminish if exchanges are left unchecked and potentially abused for financial crimes. That as China extends tests of its digital currency to its free trade zone, Hainan Province.
