Tag: china
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China Stimulus Could Decide the Next Altseason Rally
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The cryptocurrency market is once again at a turning point. After months of sideways moves, traders are watching closely to see if altcoins can break through their previous highs. The answer may not lie in the United States or Europe, but in China. The world’s second-largest economy is showing signs of slowing down, and its…
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China Convicts BKEX Staff for Illegal Crypto Gambling
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A Chinese court has convicted several employees of cryptocurrency exchange BKEX for facilitating illegal gambling through contract trading. The People’s Court of Pingjiang County, Hunan Province, ruled on January 29 that BKEX’s operations amounted to “opening a casino”, leading to multiple prison sentences and fines. High-Leverage Crypto Trading Declared Illegal BKEX, founded by Ji Jiaming…
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China Tightens Grip on Crypto with New Forex Rules
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China has introduced stringent foreign exchange regulations targeting cryptocurrency transactions, further cementing its hardline stance against digital assets. These measures, effective from December 2024, aim to curb risky financial activities, including underground trading and cross-border crypto dealings. New Rules for “Risky” Transactions The State Administration of Foreign Exchange now mandates all banks in mainland China…