Chinese crypto coins

China launched its pilot digital yuan on Tuesday, Jan. 4, 2022. The digital currency works through a mobile app, e-CNY, which is available on Android and Apple app stores. The app is still in a development phase and is restricted to select users such as domestic banks as China plans a nationwide rollout.

Huobi was founded in 2013 by Leon Li, a former Oracle Corp. coder, and Du, the marketing chief. The pair quickly grew the Beijing startup to become the world’s most active Bitcoin exchange by luring Chinese traders with zero transaction fees.

Last year, China’s government banned cryptocurrency trading and mining in one of the world’s most intense crackdowns. But China’s government is pursuing other uses of blockchain technology and non-fungible tokens (NFTs)—as long as the technology stays under its control.