Posts Tagged ‘virtual currency’

China’s Bitcoin Trading Value Soars In May 2017

In May 2017, the Bitcoin trading value in China reached CNY21.708 billion, four times that of April 2017. And the …


BTCChina Forges Bitcoin Deal With Chinese E-commerce Sites

Chinese Bitcoin exchange website BTCChina has reached a strategic deal with e-commerce providers, including online game service provider Shenzhoufu.com; Internet P2F financial management website Aicaike.com; and maternal and child product retail website Dandanchina.com. According to the agreements, BTCChina will provide Bitcoin payment services to those e-commerce enterprises, which expand payment channels for Internet users, help […]


Huobi.com Acquires Chinese Bitcoin Wallet Website

Huobi.com, a Chinese professional virtual currency trading platform, acquired the Bitcoin wallet provider Quick Wallet. Huobi.com also announced that Zhang Jian, chief executive officer of Quick Wallet, will be appointed as technology vice president of Huobi.com, leading the development and management of new businesses. No financial details about the acquisition was released. Launched on July […]


China’s Taobao.com Bans Sales Of Bitcoin-related Products

Chinese C2C e-commerce website Taobao.com formally published an online notice stating that starting from January 14, 2014, the website will ban the sale of Bitcoins as well as Bitcoin mining machines. Taobao.com said that based on the related regulations and policies of China, the company will adjust its prohibited product management practices accordingly, adding virtual […]


Bitcoin Futures Trading Suspects Arrested In China

Three men involved in an alleged swindle of Chinese speculators of the Bitcoin virtual currency have been detained in China. Local media report that the three men were involved in the GBL trading platform that allowed Bitcoin futures trading. The service ran for a few months and then closed abruptly on October 26, 2013. When […]


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 […]


Chinese Bitcoin Trading Platform Gains USD5 Million Investment

BTC China, one of the largest Bitcoin virtual currency trading platforms in China, announced that the company has completed its first-round financing and gained total investments of USD5 million from Lightspeed China Partners and US-based Lightspeed Venture Partners. According to statistics provided by Bitcoinity.org, over the past few weeks, BTC China’s trading volume exceeded Mt. […]


Ministry Of Culture Issues Chinese Rules For Internet Games

To ensure an efficient management of the online games industry and make sure prominent problems of the industry are solved, China’s Ministry of Culture has issued a provisional measure on the management of online games.
As the first ministerial level regulation on computer games, the 39-clause provisional measure gives clear stipulations on the content, market subject, […]


Chinese Game Regulations Cause Giant Interactive’s Revenue To Fall

Taking advantage of the weeklong national holiday in China, online game development company Giant Interactive Group Inc. has tried to sneak through a press release that should cause alarm for investors.
Giant Interactive announced that after a preliminary review of its third quarter 2009 performance, it expects third quarter 2009 revenue to be between CNY272.0 million […]


China Implements Stricter Management Of Virtual Currency

China’s Ministry of Culture and Ministry of Commerce have jointly focused on the management of virtual money for online games with a new regulation which states that virtual currency should not be used in trade of real goods and services.
According to the regulation, the enhanced management of online games focuses on four aspects: the issuers […]