The coronavirus which started from Wuhan, China, earlier in January, shows no signs of slowing down. With over 910 people dead already, countries across the world are taking measures. The UK has officially declared it an “imminent” threat. Asian and European stocks continue to feel the pressure as they struggle into the weekly opening. At...Read More
Japan is seemingly following the footsteps of China to ensure that they are not left out in the race for government-backed cryptocurrencies. The country’s lawmakers will reportedly release drafted proposals tomorrow (Friday) for the creation of their own central bank digital currency (CBDC). Countering China’s Digital Yaun Japan initially became interested in issuing a digital...Read More
The Coronavirus outbreak continues to take its toll on the traditional financial markets, especially in China. The Chinese stock markets had returned after a more extended Lunar New Year’s vacation. As expected, the indexes record significant drops, despite a huge $174 billion injection by the local Government. On the other hand, Bitcoin spiked to over...Read More
The last week of trading has undoubtedly been a successful one for Bitcoin and the entire cryptocurrency market. BTC’s price gained more than $1,100, charting an increase upwards of 13% in the past seven days alone. Despite the few ups and downs, the price seems to be comfortable above $9,400. Interestingly enough, Bitcoin is trading...Read More
A recent report by Baidu has revealed a lot of details surrounding China’s cryptocurrency. According to the document, the country’s central bank will be the institution monitoring the digital currency. However, as expected, the ledger used for its creation won’t provide any kind of anonymity but rather allow the Government to monitor financial transactions closely....Read More
2020 has so far been an exciting and profitable year for Bitcoin. Since the early days of January, the cryptocurrency has managed to increase its value by almost 40%. This is a spectacular performance for any asset, even more so within traditional markets. BTC/USD January. Source: TradingView In the past 24 hours alone, Bitcoin is...Read More
Bitcoin’s price surged 6% in 48 hours from the $8250 handle to above $8770. The price movements come as the coronavirus continues to spread in China. The Wuhan virus epidemic continues to plague throughout the country and abroad. Medical authorities confirmed a fifth case of the SARS-like virus in the United States. Much broader markets...Read More
Central banks have been contemplating the idea of creating their own cryptocurrencies for a while now. China has been one of the first countries to express its intentions in this regard. The country’s CCIEE chair even stated that they will be the first to launch its central bank digital currency (CBDC). A former deputy governor...Read More
The cryptocurrency market, being a relatively young and small one, is frequently affected by external forces. Sometimes, one of those factors could sound a bit strange on the surface, but it could deliver a severe impact. It’s the Chinese New Year. The Holiday is taking place during the next weekend, between January 25th (Saturday) and...Read More
China has reportedly published a second printing of its textbook guide on blockchain and cryptocurrencies. It educates readers about their future usage and potential impact on the world. While teaching about the former is more easily accepted, the latter might come as a surprise since crypto trading has been banned for years in the country....Read More
Unlike cryptocurrency regulations in the USA, China region has a less crypto-friendly attitude towards cryptocurrency. In this article, I’ll explain how China views its crypto regulations. In countries like the United States, cryptocurrency profits count as taxable income. The country recognizes cryptocurrency as a commodity or property. A lot of countries including China want to...Read More
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
