China cryptocurrency news

Here are some recent news and updates on China's cryptocurrency and blockchain scene:

Regulatory Updates

• China's central bank, the People's Bank of China (PBOC), has issued a new set of guidelines for the development of digital currencies, emphasizing the need for a "stable and controllable" digital currency system. (Source: Reuters)
• The PBOC has also announced plans to launch a digital currency, known as the Digital Currency Electronic Payment (DCEP), which is expected to be launched in the near future. (Source: Bloomberg)
• China's State Council has issued a new set of regulations for the country's blockchain industry, aimed at promoting the development of the sector while also ensuring financial stability. (Source: China Daily)

Cryptocurrency Trading

• China's largest cryptocurrency exchange, Huobi, has announced plans to delist all cryptocurrency trading pairs except for Bitcoin and Ethereum, citing regulatory pressure. (Source: Coindesk)
• Another major Chinese exchange, OKEx, has also announced plans to delist several cryptocurrency pairs, citing regulatory uncertainty. (Source: CoinTelegraph)
• China's cryptocurrency trading volume has continued to decline in recent months, with many exchanges struggling to stay afloat due to regulatory pressure and declining trading activity. (Source: CryptoSlate)

Blockchain Adoption

• China's e-commerce giant, Alibaba, has announced plans to use blockchain technology to improve the efficiency of its supply chain management system. (Source: Alibaba News)
• China's state-owned oil company, Sinopec, has announced plans to use blockchain technology to improve the efficiency of its oil trading operations. (Source: Sinopec News)
• China's government has also announced plans to use blockchain technology to improve the efficiency of its healthcare system, with a focus on electronic medical records and prescription management. (Source: China Daily)

Other News

• China's cryptocurrency mining industry has continued to decline in recent months, with many miners shutting down operations due to declining profitability and regulatory pressure. (Source: CryptoSlate)
• China's government has also announced plans to launch a new blockchain-based platform for tracking and verifying the authenticity of luxury goods. (Source: China Daily)
• China's central bank has also announced plans to launch a new blockchain-based platform for tracking and verifying the authenticity of digital art. (Source: Bloomberg)