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China intensifies antitrust crackdown with latest fines on internet giants | Hellenic Shipping News Worldwide

China intensifies antitrust crackdown with latest fines on internet giants | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

China intensifies antitrust crackdown with latest fines on internet giants

China intensifies antitrust crackdown with latest fines on internet giants
globaltimes.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globaltimes.cn Daily Mail and Mail on Sunday newspapers.

Ant s consumer finance unit approved, but regulatory scrutiny remains

Chongqing Ant Consumer Finance Co, a subsidiary of Ant Group, was approved by the local banking and insurance regulator in Southwest China’s Chongqing Municipality on Thursday to open. The new fintech company will operate small loan companies’ consumer credit businesses.

Breaking News | Chinese Local Government Mulls Crackdown On Bitcoin Mining

Inside a Bitcoin mining factory Photo: AFP Officials in Southwest China’s Sichuan Province, a major base for cryptocurrency mining, are apparently mulling more actions against mining operations of Bitcoin and other cryptocurrencies, as they were scheduled to convene a meeting on Wednesday to solicit suggestions from industry players. The latest efforts by Sichuan local officials come as local governments across the country are ramping up crackdown on cryptocurrency mining, as part of a swift nationwide campaign.  The campaign raised questions and concerns over whether Bitcoin mines will vanish entirely from China, which at the peak accounted for 70-80 percent of the world’s Bitcoin computing power.

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