China’s Central Bank Completes Top-Later Design and Joint Tests of Planned CBDC

The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency. The central bank of China has completed the top-layer design and joint testing of its soon-to-be-released central bank digital currency (CBDC).As domestic news outlet Sina reported on Jan. 10, People’s Bank of China (PBoC) accomplished the top-layer design of the planned digital yuan, developed relevant standards, carried out research and development and a joint…

Read more

Chinese Court Freezes $676K in Assets of Bitmain Manufacturing Subsidiary

Chinese Court Freezes $676K in Assets of Bitmain Manufacturing Subsidiary

The Shenzhen Bao’An District Court, China, has ruled to freeze roughly $676,000 in assets of a subsidiary of Bitcoin mining giant Bitmain. The Shenzhen Bao’An District Court in China has ruled to freeze roughly $676,000 in assets of a subsidiary of Bitcoin (BTC) mining giant Bitmain.According to a court filing released on Dec. 13, the Shenzhen Bao’An District Court ordered to freeze 4,718,710.68 yuan ($676,000) of Bitmain’s wholly-owned subsidiary, Shenzhen Century Cloud Core. The…

Read more

South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

South Korea’s government plans to tax capital gains returns on cryptocurrency transactions. The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020.In parallel, the Korean National Assembly is in the process of advancing a related bill aimed…

Read more