The city government of Shenzhen, China, is backing an $80 million blockchain investment fund, soon after Hangzhou city supported a similar effort.
Police in China have arrested the founders of a claimed cryptocurrency pyramid scheme that amassed $13 million from over 13,000 people.
Luxury brand Bellatorra Skin Care reports hot demand for crypto payments from both wholesale and retail customers as it expands into China and India.
A blockchain-themed conference in Shanghai was suspended by police on Thursday for so-far unclear reasons.
Industry experts spoke of the need for regulations and standards to boost blockchain growth at a Chinese event on Tuesday.
China State Grid Corporation, the country's state-owned power utility, is looking to blockchain to advance its plans for an "Internet of Energy."
China now has a new blockchain fund with $1.6 billion available – 30 percent of that backed by the Hangzhou city government.
The People's Bank of China says cryptocurrencies will be a top priority for the agency this year, in an effort to protect the national currency.
China is still in the process of developing a state digital currency, the chief of a government-funded blockchain research center has said.
A Chinese investment association has scrapped a previously reported plan to launch a funding center to boost blockchain development in the country.