Bank of China news

Bank of China is one of the four biggest state-owned commercial banks in China.

World latest news

People’s Bank of China Processes Nearly $4.5 Billion in Transactions Through Blockchain

The People’s Bank of China has been taking new strides in the cryptocurrency sector, recently launching a blockchain trade financial solution from their institution. According to finance news outlet SINA on July 8th, the solution processed a total of $4.36 billion (or 30 billion yen) in foreign exchange transactions. In the report, the platform shows […]
Bitcoin Exchange Guide

Facebook’s Libra to Influence Money? People’s Bank of China Steps Up Plans for Countrywide Crypto

During Peking University’s Institute of Digital Finance’s Conference, the Director of People’s Bank of China (PBoC), Wang Xin questioned the extent to which Facebook’s Libra currency can impact the international monetary system reports news outlet, South China Morning Post. In particular, Wang Xin wonders whether Libra has the potential to function like traditional money and, […]
Bitcoin Exchange Guide

People's Bank Of China Researcher Comments On Facebook's Libra

At Peking University’s Institute of Digital Finance, Wang Xin, head of the research bureau at the People's Bank of China, noted that mass adoption of Facebook's Libra cryptocurrency could ramp up development of China's own national digital currency.
Ethereum News

Bitcoin [BTC] ownership, trading should be legal in China, says Bank of China Council member

Bitcoin [BTC] received a major boost after Sa Xiao, Council Member at the Bank of China’s Law Research Association, said that it should be legal for people in China to own Bitcoin [BTC], despite the government’s ban on crypto transactions and assets. The statement was released by @Cnledger, a notable crypto news source based out of China, and stated that Xiao believes that the “occasional exchange of Bitcoins between peer to peer in China should be considered legal.” Source: Twitter The statement is important with regard to China’s stance on crypto wherein the country has completely prohibited crypto-trading. The government tightened the ban in August 2018, after it requested Alipay, a widely utilized financial app, to crack down on over-the-counter [OTC] BTC trading. Sa Xiao’s beliefs are based on the present legal framework which according to him, protects the population’s right to own virtual assets. He stated that occasional peer-to-peer trading of Bitcoin was one of the “rights of ownership” and it felt in the nature of “disposition right.” Hence, owning and occasional P2P transaction of Bitcoin and other virtual assets should be legal, he said. However, Xiao cautioned that if an entity ran Bitcoin trading as a business and caused capital losses to its customers, there would be serious consequences against the individual, as s/he would be punishable under the criminal law of China. The remarks made by the Bank of China representative received major attention on social media as people remained split on the statement. Twitter user, @DolphinPay, stated, “Nothing changed indeedly. Exchange between individuals to individuals in China still is [as has always been] legally blurred. Besides the facts, conclusions reported are legal opinions and wishful thinking. Which is not worthless, but is just a personal thought by Xiao.” Another twitter user, @CryptoOutsource, responded, “This is an individual’s opinion on the legal status of Bitcoin. This is not an official government position. But I do not expect the government to allow for Bitcoin to thrive as it is an excellent way to circumvent the tightening control they are applying to money.” The post Bitcoin [BTC] ownership, trading should be legal in China, says Bank of China Council member appeared first on AMBCrypto.
AMBCrypto

Newsflash: Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council

By CCN: According to Sa Xiao, a Council Member at the Bank of China’s Law Research Association, it is legal for individuals to own bitcoin in China despite the government’s blanket ban on trading. CnLedger, a recognized crypto news source based in China, said: ‘It is legal to own bitcoins in China’ says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides, Xiao considers the occasional exchange of bitcoins between individuals and individuals is legal. In September 2017, Caixin, a Beijing-based mainstream media outlet, reported that China officially banned crypto trading, forcing The post Newsflash: Owning Bitcoin Legal Despite Govt Trading Ban, Says Bank of China Council appeared first on CCN
CCN

Bank Of China Teams Up With Prop Tech And New World Development Blockchain

Bank Of China Teams Up With Prop Tech And New World Development Blockchain Prop Tech, a company that aims at replacing the paperwork related to digital licenses will be allowing users to send buyer’s authorized purchase agreement or mortgage application to banks. Moreover, the data that users will be sending will be encrypted and digitally […]
Bitcoin Exchange Guide

Report: Bank of China Joins New Blockchain Platform for Property Buyers

Report: Bank of China Joins New Blockchain Platform for Property Buyers Property development firm New World Development and the Hong Kong Applied Science and Technology Research Institute (ASTRI) will jointly launch a blockchain platform for home buyers with the Bank of China reportedly being the first bank user. The news was announced by local news […] Cet article Report: Bank of China Joins New Blockchain Platform for Property Buyers est apparu en premier sur Bitcoin Central.
Bitcoin Central
More news sources

Trending

Hot news

Hot world news

OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.
NullTX

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.
AMBCrypto

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
Ethereum News

David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
Live Bitcoin News

Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
Bitcoin Exchange Guide
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.