Shenzhen News

The crackdown on cryptocurrencies appears to be gaining steam in China. Local reports state that the Shenzhen branch of the People’s Bank of China (PBOC) has cleansed 11 companies for their illegal cryptocurrency activities.  Major Crackdown by Chinese Authorities Chinese…

Chinese city Suzhou is set to airdrop 30 million yuan ($5 million) to citizens in the latest round of digital yuan tests. This was revealed by the regional government yesterday in a press release informing citizens of the distribution. 150,000…

Chinese backed blockchain project BSN has revealed plans to pilot the adoption of a global CBDC system in 2021. Central Bank Digital Currencies (CBDC) was the major talk in 2020 and it appears that the push will be greater this…

Popular Chinese city Shenzhen’s government had announced on New Year’s Eve that their plan to distribute $3 million worth of digital yuan to local residents, in China’s third Central Bank Digital Currency (CBDC) tests. The catch is that residents will…

Shenzhen will be the testing grounds for China’s fascinating digital currency ambitions, this according to a central government document. As reported by Beloit Bulletin, September 30, People’s Bank of China (PBoC) plans to launch a significant research effort pertaining to…

China’s bustling blockchain efforts and the future of its digital economy were up for discussion in an interview with Yu Bao, conducted by SupChina, April 25, 2019. Bao is a prominent blockchain/crypto advocate with a huge tech background, he is…

Utilizing blockchain technology to its full potential, governments around the world are swiftly implementing the decentralized ledger platform to evade fraud, create immutable databases, and test several use-cases. The latest to join this growing list is China’s fourth-largest city, Shenzhen,…