HiTechEdge

Tag: China

  • Crypto Exchanges Scrambling to Deal With Chinese Ban

    Crypto Exchanges Scrambling to Deal With Chinese Ban

    Cryptocurrency exchanges are scrambling to deal with the fallout of China’s recent ban on all crypto transactions and mining.

    China stepped up its war against crypto, announcing a near total ban just days ago. With all transactions and mining banned, it creates real problems for the crypto industry since the vast majority of mining occurs within the country.

    According to Reuters, crypto exchanges are trying to cut ties with Chinese users, lest they get caught up in China’s campaign.

    “On the very day we saw the notice, we started to take corrective measures,” Du Jun, Huobi Group co-founder told Reuters.

    It remains to be seen how widespread the fallout will be, but the action being taken by the exchanges would seem to indicate it could be significant.

  • Honor Smartphone Brand Hangs in Balance as US Officials Weigh Ban

    Honor Smartphone Brand Hangs in Balance as US Officials Weigh Ban

    US officials are split on whether to ban the Honor brand of smartphones and tablets, a move that could have devastating consequences.

    Honor was one of Huawei’s brands, and was impacted by sanctions imposed by the US, as well as other countries. Huawei was accused of having extremely close ties with Beijing, representing a security risk as intelligence agencies around the world feared Beijing could use Huawei as a conduit for spying.

    Ultimately, Huawei sold off the Honor brand as sanctions impacted the company’s ability to produce smartphones. A consortium of Chinese companies bought the brand, leaving questions about if the change of ownership was enough to warrant a different approach.

    According to The Washington Post, US security agencies are divided on whether to ban the Honor brand. The Pentagon and Energy Department were in favor of blacklisting Honor, while the Commerce Department and State Department were opposed.

    Given the impact such measures had on Huawei, should Honor find itself on the US blacklist, it’s a safe bet it would be disastrous — just as it was for Huawei.

  • Kids in China Limited to Three Hours of Gaming a Week

    Kids in China Limited to Three Hours of Gaming a Week

    China is continuing its crackdown on video games, limiting minors to three hours of gaming per week.

    China has a contentious relationship with its technology companies. On the one hand, the country encourages its tech companies to achieve dominance — even looking the other way when they engage in blatant IP theft — but on the other hand, it doesn’t approve of the impact technology has on its own citizens, especially video games.

    According to state media outlet Xinhua, via ZDNet, China will only allow minors to play from 8pm to 9pm, Friday through Sunday, as well as on holidays.

    As part of the ban, National Press and Publication Administration (NAAP) also called on companies to implement real-name registration to help keep users under 18 from playing more than the allowed time.