China Crypto News （Aug 3 to Aug 9）Stop or Hit
Headlines
The American FUD seems to have replaced the Chinese FUD, so what is the Chinese government's attitude towards cryptocurrency in the second half of the year?
There is a view that the two recent meetings of the central Bank of China stated that the regulation in the first half of the year has reached the target. If there are no new changes, there may be no new regulatory actions in the second half of the year. This may also be one of the reasons for the recent rise in crypto prices. The central bank of China may shift its focus to areas other than cryptocurrencies.
However, on Aug 10, China's "Economic Daily" said Bitcoin prices hit a new high since May, and the cryptocurrency boom is coming back, which needs to be cracked down by the regulatory authorities. "Economic Daily" is the official media of China's economic sector.
Although the views of the media are not important, if new changes emerge, the Chinese government will still take action at any time.
Other Important News
1, BitDAO controlled by Bybit will collaborate with Sushi MISO for the BIT token launch. To some extent, this can be regarded as Bybit's platform currency. His main employees are located in Shanghai, formerly a Chinese foreign exchange company. Due to regulatory pressures, Bybit has entered DeFi, and will invest nearly $1 billion each year, which is close to 1/2 to 1/3 of its profits. Its goal is to first create a Pancake or BSC. But whether DeFi can fight regulation is still a question. It is recruiting a large number of DeFi talents in places such as Singapore and Shanghai. In the future, we may see the next Pancake or BSC.
2, Nasdaq listed company Ebang, which is a Chinese mining machine company, reported to the China SEC that a Chinese listed company named Huatie Emergency was in arrears with Ebang in payment of approximately US$43 million for mining machinery.
3, Binance announced that from now on, Hong Kong users cannot open new derivatives accounts in Binance, and the remaining Hong Kong users have a 90-day grace period to close their open positions. In addition, another policy is to use the API only after completing KYC.
4, One of China's largest mobile phone manufacturers, Xiaomi's Portuguese store accepts Bitcoin, Ethereum, DASH and USDT as payment. As a Chinese company, Xiaomi is afraid of being involved in supporting cryptocurrency payments that violate Chinese laws. But on the other hand, Xiaomi founder Lei Jun has invested in many cryptocurrency companies, such as okcoin conflux and certik.
Xiaomi responded that cryptocurrency payments was published by Mi Store Portugal, a authorized partner of the Mi Store in Portugal. This partner is operating independently in the local area and is not related to the operation of Xiaomi company.
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