Tag: China
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Chinese Government Official Receives Life Sentence for Operating Illegal Bitcoin Mining Operation!
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In a significant move highlighting China’s strict stance on unauthorized cryptocurrency activities, a former Chinese government official, Xiao Yi, has been sentenced to life in prison for his involvement in subsidizing a secret and large-scale Bitcoin mining operation within the country. The operation, based in Fuzhou, consumed a substantial portion…
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China Approves Plan For ‘Healthy’ FinTech Sector Development!
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Chinese President Xi Jinping chaired a conference this week that approved publicizing the “healthy” development of the payment and fintech sectors. The meeting of the central commission for deepening overall reform also backed improving regulation of significant payment platforms, adding that companies would be encouraged to return to their roots…