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Qualcomm Won A Legal Dispute With Apple In China With Severe Consequences For Apple

Chipmaker Qualcomm has reported that a Chinese court has judged in its favor in a patent case against Apple in China, and a preliminary order has been issued prohibiting the import and sale of several iPhone models in China. This court decision thus makes impossible for the Chinese residents to buy iPhone 6S, 6S Plus, 7, 7 Plus, 8, 8 Plus and iPhone X models, even though it does not affect the phones launched this year, namely, the iPhone XR, XS, and XS Max.

The news has caused Apple’s shares to fall more than 2% at the opening of the market, while Qualcomm’s shares reacted with rises close to 4% at the beginning of the day.

The decision came from the Fuzhou Intermediate People’s Court in China, the same court that this year banned the import of some of the chips from the chipmaker Micron Technology in China.

Qualcomm Won A Legal Dispute With Apple In China

Qualcomm, which initially filed the case in China in late 2017, has received the court’s green light. The court decided that Apple has violated two of Qualcomm’s software patents to resize photographs and manage touch-screen applications.

“Apple continues to benefit from our intellectual property while refusing to compensate us,” said Don Rosenberg, general counsel for Qualcomm, in a statement. But because patents directly affect the software, Apple can make changes to its operating system to prevent patent infringement, so if the changes come, they can continue to sell their banned smartphones in the Asian country without an agreement with Qualcomm.

The patents that made the subject of the lawsuit are different from those both companies are disputing in other cases in their broad legal dispute. In fact, Qualcomm also asked the US regulators to ban the import of several iPhone models for patent reasons, but so far US officials have refused to do so.

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Crypto News

BTCC Crypto Exchange, the First Bitcoin (BTC) Exchange In China, Plans to Relaunch in South Korea

China’s first Bitcoin (BTC) exchange, BTCC, formerly known as BTC China, is ready to launch new trading services in South Korea, as The Investor reported yesterday, October 16th. BTCC, currently based in Hong Kong, will begin marketing its facilities in South Korea later this month via a Beta phase, while it would make its official debut in November.

According to BTCC’s website, the South Korean service, headed by Lee Jae-Beom, would comprise a new crypto exchange platform, a wallet service, a mining fund, and a service to enable consumer payments.

“BTCC is establishing an online/offline payment system using cryptocurrencies, and is expanding services for use in real life,” BTCC stated.

BTC China (BTCC) established in 2011 and was previously one of China’s top-three crypto exchange platforms, before intensified pressure from the country’s regulators and central bank, amid signs of imminent crypto repression, forcing BTCC to announce its closure in September 2017, while China’s national regulatory banned Initial Coin Offerings (ICOs) at the same time.

BTCC Crypto Exchange, the First Bitcoin (BTC) Exchange In China, Plans to Relaunch in South Korea in November

In January of this year, however, the company was acquired by a Hong Kong-based blockchain investment fund. Subsequently, a new BTCC project continued to develop with improvements on its mining pool and its Mobi software crypto wallet, that before relaunching its trading platform in July.

Crypto exchange platforms in South Korea have also come under considerable scrutiny by national watchdogs, which have intensified markedly in the wake of high-profile checkpoints and allegations of fraud. This year, however, China has been working to reclassify the exchanges as “crypto assets and brokerage exchanges,” thereby “recognizing them as regulated financial institutions.”

A decision is expected to be announced next month following officials’ deliberation on the possible repeal of South Korea’s ban on ICOs, which has also been in effect since September 2017. At the time of going to press, BTCC is recording about $170,000 in daily trading volumes.

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Crypto News

Crypto Mining: Chinese Government Sentenced A Man For Bitcoin (BTC) Mining

On October 8th, a Chinese news portal reported that a man was sentenced to three and a half years in prison and fined 100,000 Yuan (about $14,428) for stealing electricity from a railway company for crypto mining.

According to the portal, the conviction was filed on September 13th by the Datong Rail Transport Court in Shanxi Province in China. According to the source, the man was accused of stealing about the equivalent of 104,000 Yuan (about $15,000) in electricity to power 50 crypto mining equipment and three fans that were active 24 hours a day during November and December last year.

The accused one, named Xu Xinghua, “stole the power of the pole near the Second West Plant of the Kouquan Railway” and during his crypto mining operations, he generated 3.2 Bitcoin (BC), about 120,000 Yuan (roughly $17,300).

The Chinese court also noted that Xinghua will have to pay electricity bills and that its crypto mining equipment will be confiscated. It should be noted that, of the 50 operating equipment, five were damaged during operations.

China is not ok with non-licensed crypto mining

The government of China indicated last July that the non-licensed activities of crypto mining would be closed as of September. On that occasion, they clarified that illegal Bitcoin (BTC) mining activities corresponded to those not registered with government authorities and that required a high unauthorized energy demand, in cases in which they did not have a private electricity service contract.

A month before the announcement, the seizure of more than 200 Bitcoin (BTC) and Ethereum (ETH) mining equipment in Anhui province became known. In that case, the owner of the crypto mining equipment had stolen about 150,000 kW per hour for more than a month.

According to sources, 70% of the crypto mining in China is concentrated in a single province, called Sichuan, which suffered flooding last July, affecting operations. This area is attractive for mining because of the abundance of water resources and cheap electricity, low population density, and cold weather.

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Crypto News

China Increases Its Policies Regarding Cryptocurrency With Baidu, Tencent And Alibaba Blocking Crypto-Related Activities

Restrictions against cryptocurrency in China intensified today, August 27, after renowned technology companies such as Baidu, Tencent and Alibaba blocked forums related to cryptos and cryptocurrency exchanges. The measures come amidst a new escalation by the Chinese government, which is even trying to minimize the conversations of thousands of users about digital assets.

In the case of Baidu, China’s leading Internet search engine, the ban covers the cryptocurrency forums, according to information disseminated by local media. According to the report from other digital media, a person related to Baidu who did not want to be identified claimed that the measure was taken in “conformity with relevant laws, regulations, and policies.”

As for Tencent and Alibaba, which provide Internet and e-commerce services, respectively, they have reported that they will maintain monitoring to prevent their mobile payment services from being used for transactions involving cryptocurrencies.

On August 24th it was announced that AliPay would supervise the transactions with cryptos in China to restrict or suspend the operations suspected of being involved in the purchase and sale of cryptocurrencies.

China intensifies the cryptocurrency regulations

The decisions taken by the before-mentioned companies come in addition to the measures imposed by local authorities, such as the one announced last Thursday, in which events related to cryptos became banned in hotels and shopping malls in Beijing’s Chaoyang district.

Overall, it was also reported that some 124 foreign cryptocurrency exchange platforms operating across China would be banned to minimize the exchange of cryptos further.

The increase in official regulation began in September 2017, when China issued a measure in which the Central Bank banned the Initial Coin Offerings (ICOs) because “ICO projects are suspected of illegally raising funds and probably committing fraud.”

Since then, the official position was against cryptocurrencies and any mechanism related to digital assets. However, in the midst of this whole ecosystem landscape, China does welcome the potential of blockchain technology.

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Crypto News

Foreign Crypto Exchange Platforms And Crypto-Related Events Banned In China

Chinese government officials issued a statement informing that all commercial activities related to cryptocurrencies, such as conferences, chats or forums, may not take place in hotels, shopping malls, or offices. The document, published by the government of Beijing’s Chaoyang district, orders local financial authorities and the police to ban such events that could promote the negotiation and exchange of cryptocurrencies. The measure also targets foreign crypto exchange platforms.

Local media, economists, and members of the Chinese Bitcoin (BTC) community broadcast, through social networks, the announcement that circulates since Wednesday. The new government measure could now be aimed at restricting the closest channels of communication among ecosystem enthusiasts, according to an analysis by Dovey Wan, director of Dhanua Capital, a California-based venture capital fund.

Wan explained that although the measure is being taken in Beijing’s Chaoyang district, the decision sets the tone at the national level, so there is no need for a new document to be published to stipulate this.

The announcement comes 24 hours after the WeChat messaging service, owned by Chinese mobile phone and Internet company Tencent, blocked accounts of blockchain and cryptocurrency companies in China.

China blocked the operation of foreign crypto exchange platforms

After banning the development of events related to cryptocurrencies and banning the crypto-related accounts in WeChat, the Chinese government also announced yesterday, August 23rd, that it is ready to block more than 120 foreign crypto exchange platforms operating in the country, which can be considered as a new governmental escalation to restrict the commercialization of cryptos.

The news was released by the Shanghai Securities News, an affiliate of local financial regulators, while other online news portals highlighted that the authorities would continue to monitor and shut down websites dedicated to crypto trading and the Initial Coin Offerings (ICO).

On the one hand, the Chinese government maintains strict control over the ICOs, which have been banned by the Central Bank, while on the other hand, it imposes severe restrictions on the crypto trade platforms operating across China.

However, the nation accepts blockchain technologies, as the president Xi Jinping said that DLT “accelerates progress in implementation and creates new areas in the life sciences.”

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