China’s central bank is reportedly preparing a new set of stricter rules that will affect public privacy and personal information. The update will make nine significant changes regarding leasing services and other types of financial transactions, and the community has quickly brought up Bitcoin and its potential to be used freely in similar situations. China...Read More
The past two years have opened the eyes of the world to crypto currencies. Showing particular interest has been central banks with a number of them developing their own stablecoins and more will be arriving this year. Year of the Stablecoin Many of the existing stablecoins may simply disappear under an avalanche of better alternatives....Read More
On January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. BTC’s curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower....Read More
Messaging applications are commonly used in this day and age. The US Army is no longer allowed to make use of TikTok on government-owned devices. There are some serious concerns regarding TikTok and the data it collects. TikTok is a no-go for the US Army Chinese social media applications do not have the best reputation. ...Read More
The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation...Read More
While a bitcoin ETF may never see the light of day, China is exploring a completely different model. The application for the first-ever blockchain ETF has been accepted by the CSRC last week. It is a well-known fact that China is going all-in on blockchain over the next few years. A Blockchain ETF is in...Read More
The crypto industry, Bitcoin, blockchain, and any of its varieties is driven primarily by hype and speculation as the emerging technologies underlying each asset are often too new or unproven to yet provide a realistic valuation.Due to this, the constant ebb and flow of FUD and FOMO often dictate market movements and turn major losers...Read More
In this roundup, we cover Russia’s supreme court recognizing tokens as assets like money and property, France’s new crypto regulatory framework, and several industry developments in China, including a blockchain ETF filing. We also cover Japan’s world conference for decentralized financial governance, Uzbekistan’s crypto ban, and four countries’ central bank digital currency updates. Also read:...Read More
The global focus continues to shift toward China’s digital currency plans. Despite a genuine lack of information, it certainly poses many different threats. Rumors regarding a digital yuan have persisted for years now. China’s Digital Yuan is More Than Just a CBDC Only a few months ago, it became apparent this was more truth than...Read More
With the dry season approaching, Bitcoin miners in China’s Sichuan province may be forced to reduce their electricity consumption. Prioritizing Communal Electricity Needs Over Crypto Miners According to Asia Times, authorities in Sichuan Province, China, are reportedly leaning on Bitcoin miners to cut down electricity consumption. This news comes amid the dry season in Southwest...Read More
Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also...Read More
Companies in China have been wary of cryptocurrencies. That situation won’t necessarily change following some new guidelines coming out of Beijing. It has been a while since some “China bans bitcoin” FUD made headlines. More Bitcoin Trading FUD From China For reasons unknown, such news tends to come around at least once a year. This...Read More
The impact of 2020’s economic and political events could have a lasting effect on the future of crypto assets, although it is unclear what the final result may be. Most people are likely aware of the massive potential impact that cryptocurrencies and blockchain technology can have on countless industries. Their ability to revolutionize the world...Read More
A leading Chinese marketing and management behemoth, ChinaNet, has announced that vibrant and pro-blockchain Mr. Yingguo Guo is now the new Chief Technology Official (CTO) of the company, according to a press release today. ChinaNet Hires Pro-Blockchain Executive ChinaNet is a NASDAQ-listed company (Nasdaq-CNET). According to the company’s website, ChinaNet is “integrated online advertising, precision...Read More
Four financial regulators in China have jointly issued a fresh warning regarding crypto trading activities in Beijing. The notice explains the reason for the warning and lists prohibited crypto activities, which have reportedly been surging as companies ramp up their blockchain promotion. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO,...Read More
The Shenzhen Stock Exchange has launched a blockchain index comprising 50 of the largest publicly listed companies with blockchain ventures by market capitalization. Blockchain-related stocks in China have been gaining value since President Xi Jinping openly advocated for the technology. Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved ICO, Muslim Crypto...Read More
Cryptocurrency regulation remains a controversial topic in different regions. Many hope to see some sort of solution emerge out of China, and it may be closer than one may think. Bitcoin and other digital assets have proven very difficult to regulate in many different ways. China and Bitcoin Regulation Primarily Chinese officials seem to struggle...Read More
In the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud. Also Read: Chinese Regulators Question 8 Crypto Companies in Shenzhen Police Seize...Read More
China is about to broaden the scope of its blockchain pilot in cross-border financing, Reuters reported Tuesday, citing a government official. Besides, China might reform the foreign exchange regulation to deal with cryptocurrency. Gov’t to Adjust Forex Regulation for Cryptos Lu Lei, deputy head of China’s State Administration of Foreign Exchange (SAFE), said at a...Read More
Many are pinning their hopes on next year’s bitcoin halving as the catalyst for another bull rally. There may be wider issues at large though, especially with regards to bitcoin mining. Bitcoin Halving 141 Days Away The countdown continues to bitcoin’s halving which has now been estimated on May 14, 2020. The widely anticipated event...Read More
In this roundup, we cover a wide range of regulatory developments in the crypto space. Much has transpired in the U.S., including a new crypto bill, SEC’s proposal, lawmakers seeking answers from the IRS, and the state of Michigan signing several crypto bills into law. We also cover France’s first-approved initial coin offering, a proposal...Read More
According to recent information, China’s e-yuan will roll out in early 2020, and it will be very cautious, initially only focusing on consumer spending. Recent reports regarding China’s upcoming cryptocurrency claim that Beijing is preparing to launch the so-called ‘e-yuan’ in early 2020. This will be the world’s first digital sovereign currency. However, the reports...Read More
According to recent statements by People’s Bank of China (PBOC) official Mu Changchun, the country’s digital yuan is ready for trials. The central bank digital currency (CBDC) will decidedly not be a speculative asset like bitcoin or stablecoins, and will not need a currency basket for backing, Changchun affirmed. Reactions to the announcement are varied,...Read More
China is known to sponsor several hacking collectives. APT20 a very active community of criminals, wasn’t officially linked to any country, until now. New research by Fox-IT seems to indicate APT20 is working on behalf of the Chinese government. APT20 may be a Government Initiative More specifically, the security agency looked at victims across different...Read More
12 months ago, crypto derivatives platform Bybit officially launched. The Singapore exchange, which also has offices in Hong Kong and Taiwan, has enjoyed a fruitful first year, attracting users from North America, Europe, Russia and Asia. With products including BTC, ETH, XRP and EOS perpetual contracts, and a matching engine capable of handling 100,000 tps,...Read More
According to recent estimates, bitcoin mining in 2020 is expected to take off at an explosive pace. Miners are predicted to mine around $3 billion worth of BTC as per the coin’s current price. Bitcoin mining has always been a crucial part of the BTC network. Mining involves validating transactions, adding blocks to the blockchain,...Read More
Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Also read: Crypto...Read More
Billionaire Tim Draper recently spoke about emerging technologies, especially blockchain and crypto, revealing what he expects will come in years to come. The year 2019 is at its end, and the next decade is ready to begin. However, while the new decade means a new beginning for a lot of people, it also means a...Read More
China’s Hengfeng Bank is set to get a $14.2 billion bailout from both Chinese government and foreign investors. An emergency decree has been approved to bail out southern Italy’s biggest lender, Banca Popular di Bari. Germany continues to struggle with bailout pains, as regional bank Nordlb finds itself now depending on another capital injection. None...Read More
The state of the blockchain space in November shows long-running trends establishing themselves. Bitcoin (BTC) was still the leader in multiple metrics, and China was the focus as activity flowed to local markets, shows the latest Longhash report. China Emerges as Leader in Trading Activity November’s Blockchain Data Report focused on China, basing its conclusions...Read More
