EOS scored an awareness boost after being featured on Chinese television, but critics warn China has become a systemic risk to the cryptocurrency. | Source: Shutterstock EOS received a major boost in awareness this week thanks to a Chinese television show that featured a popular blockchain RPG called Crypto Sword & Magic. “ICS Money Talks,”...Read More
A recent report from Binance Research has looked into the potential characteristics that can be expected for the proposed digital currency of China. As members of China’s government and central bank have indicated, this digital currency will utilize a ‘hybrid’ system that includes blockchain features and other operating technologies. The market analysis and research arm...Read More
Tether Holdings, the firm that issues tether (USDT), has plans to launch an offshore Chinese yuan stablecoin called CNHT. Tether’s digital dollar presence within the crypto economy has been massive in recent months, seeing significant demand from China. Bitfinex shareholder Zhao Dong has explained in a recent interview that Tether is also preparing to launch...Read More
China has rubbished reports going rounds in a section of the media that its Central Bank Digital Currency (CBDC) is all set for a launch after nearly half a decade of thorough research and development. A Chinese state-owned media outlet “The Global Times” took to Twitter to deny a widely-circulated Forbes report that the People’s...Read More
China is not launching a central bank-backed crypto in November, says China’s state media outlet the Global Times. | Source: REUTERS / Dado Ruvic China is not launching a central bank-backed crypto in November. That’s what Chinese state media outlet the Global Times said, in refuting a Forbes report. Central bank calls report ‘inaccurate speculation’...Read More
Investors have swung wildly between risk-on and risk-off postures, as Sino-U.S. trade tensions rise and fall. While crypto-volatility is still too strong for most investors to stomach, there could be a more reliable refuge for investor value. At present, equities-averse money has very few places left to go.The Swiss National Bank recently intervened to dampen...Read More
If you’ve ever had to buy a used car, you know how easy it is to be taken for a ride. Between rolled-over odometers and new cars that have never seen a drop of oil, secondary markets are a rusty minefield of hidden problems and iffy maintenance. Now, one of the leading auto giants is...Read More
China’s Government and Central Bank just can’t seem to align on the proposed central bank digital currency (CBDC). On Tuesday, government-supported tabloid, Global Times, reported that the Central Bank called speculation on an upcoming launch ‘inaccurate speculation’. Then yesterday, it published an article suggesting that plans are gaining momentum, with a pilot-scheme in Shenzhen imminent....Read More
China’s digital currency might be good for shopping, but don’t expect any privacy. Binance researchers have questioned claims of transaction anonymity, suggesting instead that the new virtual currency might actually give the state greater opportunity to spy on its citizens. In a report published today, Binance researchers acknowledged that the Chinese Central Bank Digital Currency...Read More
A 12-year-old, future unschooling advocate at an Occupy Wall Street protest learns about Bitcoin while running from the cops. He invests. Later, the independent Erik Finman will become the supposed “world’s youngest bitcoin millionaire” at age 18. That’s not where the story ends, though. The high school dropout has since gone on to launch education...Read More
China is reportedly set to launch its state crypto on the country’s biggest shopping day. | Source: Shutterstock Facebook’s fears that the bottlenecks tech firms in the free world face in developing cryptocurrencies risks opening the door for more closed societies to take the lead have been confirmed. According to Forbes, China has already developed...Read More
China is inching closer to unveiling its first government-backed cryptocurrency, as the US administration continues to impose more economic sanctions on Chinese exporters. Despite a blanket ban on cryptocurrencies and related businesses, China, the world largest economy, is now reportedly getting ready to launch its government-backed stablecoin. The currency will be issued to seven institutions, according...Read More
According to Forbes, China’s central bank is ready to introduce their own cryptocurrency “China Coin” by November. As per the reports, The People’s Bank of China (PBOC) has been exploring the possibility to launch its own digital currency since 5 years to cut the costs of circulating traditional paper money and enhance the policymaker’s control...Read More
Last week cryptocurrency prices bounced around after a majority of coins dropped in value on August 21. Today on August 26, digital currency markets have gained around 1.52%, gathering $4 billion since the initial slump. Despite the volatility, cryptocurrencies have consolidated and a few speculators believe a breakout is on the cards that could send...Read More
Criminals often express their favoritism toward cryptocurrencies. The perceived privacy and anonymity associated with this payment method makes for an excellent tool. In the US, the Treasury is now targeting Chinese drug kingpins. More specifically, they are monitoring Bitcoin revenue streams. That form of payment has become all the more prominent as time went by....Read More
The opioid epidemic is the new devil Bitcoin is being blamed for inflaming, to be added to the already long list of heinous crimes crypto is supposedly responsible for, like terrorism, money laundering, and trafficking. While it’s painfully clear that the U.S. dollar is a much more common tool for these unethical and illicit activities,...Read More
Bitcoin began an impressive price surge minutes after China announced that it would slap additional tariffs on US goods.Beijing said late Friday that it would increase taxes on $70 billion worth of US imports of between 5 and 10 percent. That progressed its already worsening trade dispute with Washington which last week had announced a...Read More
The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash transaction...Read More
Facebook’s Libra may be facing multiple threats from regulators, but the same critics are now racing to beat the social media giant at its own game. Experts: Chinese Libra May Come First The US, China and European Union are all concerned about Facebook’s digital currency. According to fresh reports, however, it is China which is...Read More
The demand for bitcoin has certainly been tangible over the past few months. Even with a correction of around 30% the digital asset is still up over 160% this year. That growth could have been spurred by central banks devaluing their own currencies as economic skies darken. Big Banks Boosting Bitcoin Demand and fervor for...Read More
The U.S. Department of Treasury has sanctioned three alleged narcotics operators and their crypto addresses. The United States Department of the Treasury has added multiple cryptocurrency addresses to its Specially Designated Nationals (SDN) list under the Foreign Narcotics Kingpin Designation Act, also known as the Kingpin Act. These addresses, and the individuals associated with them,...Read More
A prolonged rainstorm in China’s Sichuan province has caused land- and mudslides, forcing some local hydropower plants and bitcoin miners to halt operations. Heavy rain has been drenching Sichuan’s mountainous Aba prefecture since Monday, with landslides now affecting 17 counties in the area, according to local government social media posts on Tuesday. Among them, the Wenchuan county appears...Read More
The contentious stablecoin operator, Tether, is all set to issue a new stablecoin, CNHT, pegged to CNH, offshore Chinese Yuan Renminbi. The news was confirmed by Zhao Dong of DGroup, who spoke to ChainNews on August 21. RenrenBit, the digital asset management platform of Bitfinex shareholder, Zhao Dong, will be the first firm to invest...Read More
Bitcoin miners in China already have to deal with a government that wants to stamp out their industry. Add to that natural disasters such as flooding and landslides, and they have a full plate to contend with.Sichuan Bitcoin Farms Hit by FloodsAccording to government services, monsoon flooding in China during July and August has claimed...Read More
On June 27, 2019, a handful of leaders for a wildly popular ponzi scheme that spread across Asia were arrested by Chinese authorities after they managed to fleece unwitting customers out of roughly $3 billion. PlusToken, as it was called, promised its “investors” monthly returns of anywhere from 10 to 30 percent in its eponymous...Read More
We now know the reason why China’s central bank is rushing to issue its “cryptocurrency” as quickly as possible: Facebook’s Libra. | Source: Shutterstock By CCN Markets: We now know the reason why China’s central bank appears to be rushing to issue its “cryptocurrency” as quickly as possible. Beijing, reports suggest, is worried that Facebook’s...Read More
The People’s Bank of China (PBoC) set to launch it’s government-backed digital currency, CDBC. It is after 5 years of research says a China Daily report on 20th Aug. Experts also claim that Libra launch has triggered the launch. Pilot testing has already started and many state-owned companies are tying up with banks to test...Read More
The Cryptocurrency vs RBI case resumed the hearing today i.e on 20/8/2019 in Supreme Court, Court No. 5. According to a series of tweets by Crypto Kanoon, the counsel for IAMAI, Ashim Sood, started the session by explaining examples of various countries and states and how they went about regulating cryptocurrency. He also explained the...Read More
Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors....Read More
Huobi Wallet has added MakerDAO’s various offerings to its list of supported assets and services. Major cryptocurrency exchange Huobi has added support for MakerDAO tokens and decentralized apps (DApps) in its wallet. Huobi Group shared the announcement with Cointelegraph on Aug. 19. MakerDAO has a stablecoin called Dai, a token named MKR, and applications including...Read More
