China

China

Policy

Ripple's Larsen Says US Risks Losing Stewardship of Global Financial System to China, Disses SEC

Chris Larsen said China's "itching" to be the one that designs the next financial system, and that the U.S. is "woefully behind."

Ripple Executive Chairman Chris Larsen

Markets

Shenzhen Giving Away Millions in Digital Yuan in Lottery to Boost Consumption, Test Tech: Report

The promotion is part of China's efforts to try out out and stimulate usage of its new digital currency.

balls, lottery

Policy

China's Central Bank, Major City to Hand Out $1.5M in Digital Yuan

A local report suggests the pilot is an indication the digital yuan is close to being launched.

Chinese red envelopes

Policy

China Central Bank Official Reveals Results of First Digital Yuan Pilots

Approximately RMB 1.1 million, or $162 million, have changed hands in 3.1 million initial digital yuan transactions.

china, flag

Policy

Ripple Chairman Says Firm Could Leave US if Regulatory Environment Doesn't Change

Ripple has threatened to leave the U.S. if crypto regulation doesn't change.

Ripple Executive Chairman Chris Larsen and Lyna Lam

Finance

Bilibili Copycat Tried to Save Itself With a $2M Crypto IEO – It Didn’t Work

A Chinese video streaming copycat service raised $2.1 million via an initial exchange offering in August 2019, but it appears this last resort wasn’t enough to save the company.

Bilibili site

Policy

China State Media Make Rare Reports Calling Crypto 2020's Best Performing Asset

Several Chinese state-owned media companies have made unusual coordinated reports describing cryptocurrencies as the year's top performing investment.

Satellite dish in China

Policy

China Sees Advantages in Being First on New Digital Currency 'Battlefield'

The nation would wield stronger influence in the world as a result of the digital yuan issuance, according to a magazine from the People’s Bank of China (PBoC)

People's Bank of China's headquarters in Beijing

Tech

VeChain to Supply Blockchain Tech for Chinese Food Safety Group That Includes McDonald's

The VeChain Foundation has become the first blockchain-based entity to join the China Animal Health and Food Safety Alliance (CAFA) and will work with members to trace supply chains in the country.

McDonald's outlet in Hong Kong (
S3studio/Getty Images)

Markets

Binance-Backed Travala.com Enters China's Fast-Recovering Travel Market

"In China, the recovery is happening now and very fast,” said Travala.com CEO Juan Otero.

China's domestic flights are back to pre-pandemic levels, and hotel bookings are surging, too. (Göran Höglund/Flickr)