Posts Tagged ‘China Banking Regulatory Commission’

Countdown Looms For BTCC’s Bitcoin Trading End

As BTCC enters its final week of Bitcoin trading operations, all eyes are on how the impact of the shutdown …

ICOs Are Dead In China As Chinese Government Nixes Cryptocurrencies

Seven Chinese regulatory bodies issued initial coin offering rules that totally ban the practice by cryptocurrency and Bitcoin wannabes. ICOs …

Is P2P Lending Out Of Control In China?

Internet financeThe China Banking Regulatory Commission appears ready to issue new guidelines that will cap P2P lending and curtail some of …

Is China Unicom’s Entry Into Fintech Sign Of A Bubble?

China Unicom bubbleFifteen years ago, some staid Chinese manufacturers got sexy by calling themselves Internet companies, and China Unicom’s latest move into …

Bitcoin Value Steadies After Chinese Government Warning Drop

Five Chinese government units, including the People’s Bank of China, Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission, have jointly issued a notice about preventing risks against Bitcoin speculation. Though the warnings were not full condemnations of the cyptocurrency, sell prices on exchanges as […]

Alibaba Plans To Open Physical Banks In China

Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People’s Bank of China and China Banking Regulatory Commission. The new subsidiary is reportedly jointly invested by Alibaba Group, the people’s government of Zhejiang, Softbank, and CDH Investments. Jack […]

CBRC: No Banks Shall Provide Credit Card Services To Teenagers

The China Banking Regulatory Commission has issued a circular which asks Chinese banks not to provide credit card services to students under 18 years old.
Furthermore, CBRC asks banks to obtain a written consent from parents of students who are over 18 years old stating that the parents pledge to pay off any debt incurred by […]

PBOC To Regulate Payment, Settlement Businesses Of Internet Platforms In China

The People’s Bank of China has published a notice that requires all non-financial organizations engaged in payment and settlement businesses in China, including Internet platforms such as Alipay, to fully register under the new guidelines before July 31, 2009.
Though PBOC says the registration results will only be used as references of making relevant policies and […]