If the U.S. government doesn’t lead financial innovation, China will leapfrog it and control the world’s emerging monetary infrastructure.
While China invests heavily in blockchain technology, President Biden failed to mention the topic in his recent State of the Union.
A Beijing municipal bureau sent an emergency notice to local data centers, asking about crypto mining operations.
The U.S. is biding its time to see whether a CBDC was something that would be a "good thing for the people," Powell said Wednesday.
The outages took place shortly before mining operations usually move from the coal-rich Xinjiang region to the rain-rich region of Sichuan.
The Alibaba-affiliated company disclosed the information over the weekend at the Digital China Summit in Fuzhou.
Money's three social functions – storing value, exchanging it and providing a unit of account – are unraveling, with dramatic implications, says EYQ's Insights Director.
Tightening regulations have unnerved some crypto miners in China.
The stablecoin's price in dollars surged during the recent market correction to the highest since the "Black Thursday" sell-off in March 2020.
The deputy governor said bitcoin and stablecoins were investment options and not currency during the Boao Forum on Sunday.
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.
One policy maker says China is unlikely to use bitcoin as a financial weapon against the U.S. dollar.
“The dollar’s status as the key global currency won’t change so easily,” BOJ’s head of payments told Bloomberg.
Upon its completion, the facility will be the largest filecoin distributed storage infrastructure project in China.
The terms of the restructuring are expected to curb the Alibaba affiliate's profitability and valuation.