China to step up cryptocurrency crackdown by Staff Writers Beijing (AFP) Jan 17, 2018 China is preparing for a new crackdown on cryptocurrency, planning to stamp out remaining trading in the country, according to state media. China will gradually clean up over-the-counter trading platforms, peer-to-peer networks where large exchanges occur and firms registered in the country which allow Chinese to trade overseas, the state-run Securities Journal said Tuesday. The publication cited an anonymous source close to regulators tackling online finance risks. The new plan follows China's crackdown on cryptocurrency trading last year, which saw Beijing shut down bitcoin exchanges and ban all initial coin offerings. But alternative channels for trading cryptocurrencies have popped up, including on social networks like WeChat, QQ and Telegram. Those online groups facilitating large-scale peer-to-peer trade appear likely to suffer greater scrutiny in the coming months. The international value of bitcoin and other cryptocurrencies has plunged in recent days amid fears of a crackdown in Asia and concerns that many currencies' rapid rise in value last year could reflect an inflating bubble. At one point on Wednesday, the price of bitcoin on some exchanges had tumbled more than 20 percent, falling below the $10,000 mark that the currency broke through in November of last year. The market movements come just one month after the most valuable cryptocurrency bitcoin broke through the $20,000 mark in December.
Beijing (AFP) Jan 10, 2018 China's factory inflation slowed to a 13-month low in December, official data showed Wednesday, a sign of continued fragility in the world's second-largest economy. The producer price index (PPI) - an important barometer of the industrial sector which measures the cost of goods at the factory gate - rose 4.9 percent year-on-year in December, its lowest rate since November 2016, according t ... read more Related Links Global Trade News
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |