Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia

Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises.

Terms of notice

As local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province.

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BlockFi Clients Can Now Start Earning Interest On Any Amount of Crypto

Clients of BlockFi, a cryptocurrency lending company, will now be able to start earning interest on any amount of Bitcoin (BTC), Ether (ETH), and Gemini Dollar (GUSD).

No minimum deposit to earn interest

On Sept. 13, the New York-based cryptocurrency lending company, BlockFi, announced that, starting today, its BlockFi Interest Account (BIA) clients will not be required to meet a minimum deposit amount in order for them to earn interest on their Bitcoin,

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Bitcoin Price Catalyst Will Be S&P 500 New All-Time High, Says Tom Lee

Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee has argued that a strong macro outlook will provide the tailwinds for the next Bitcoin (BTC) bull run.

In an interview for CNBC’s Fast Money on Sept. 13, Lee broke with the narrative that investors buy into Bitcoin to hedge macro risks — viewing the asset as a safe-haven asset or type of digital gold. 

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Bobby Lee Takes on Hardware Wallets With New Device for 30+ Cryptos

The founder of China’s first Bitcoin exchange, Bobby Lee, has returned to the cryptocurrency spotlight with the launch of a new wallet. 

As confirmed on his social media profiles, Lee, who sold BTCC in 2018, now aims to corner the portable hardware wallet market. 

Lee returns with “credit card” hardware wallet

His product,

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Coinbase Considering Initial Exchange Offering Platform: Report

United States-based cryptocurrency exchange Coinbase has indicated it is considering the launch of an initial exchange offering (IEO) platform.

The news was revealed by Coinbase’s head of institutional sales in Asia, Kayvon Pirestani during a panel at the Invest: Asia conference on Sept. 11, crypto media outlet Coindesk reports.

IEO platform could be announced within months

During the panel,

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SWIFT: Crypto Useless, ‘Goes Down In Value Like A Yoyo’

Interbank payments network provider, the Society for Worldwide Interbank Financial Telecommunications (SWIFT), has dismissed cryptocurrencies as being “useless and unstable.”

An FXStreet report published on Sept. 10 cites unnamed SWIFT representatives at a London briefing earlier this week, who reportedly claimed that:

“They go down in value like a yoyo,

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LG Developing a Blockchain Phone in Response to Samsung: Korean Media

South Korean electronics giant LG is working with blockchain developers to launch a rival to Samsung’s Klaytn blockchain smartphone, sources have said.

LG in talks with local developers

Speaking to local daily news outlet Chosun on Sept. 8, an industry insider said LG had already held discussions with local decentralized application (DApp) developers and had worked out a use case for its future product. 

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Crypto News From Japan: Sept. 2–8

Japan, one of the leading markets for cryptocurrencies, has seen a series of important developments for the cryptocurrency and blockchain industries this week. The country’s financial regulator, the Financial Services Agency (FSA), has licensed crypto-related businesses. Japanese Deputy Prime Minister and Finance Minister Taro Aso noted that regulators need to find new approaches to address emerging technologies like cryptocurrencies and blockchain.

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Price Analysis 06/09: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

Jennifer Bailey, the vice president of Apple’s payments service, Apple Pay, said that the company was watching cryptocurrencies closely as they believe it has long-term potential. The company claims that Apple pay processes about one billion transactions every month. With such a wide reach, Apple’s move to crypto, similar to Facebook, will be a huge positive as it will attract a large number of retail and institutional investors alike.

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Japan Grants Crypto Exchange License to Messaging Giant LINE

LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE, has obtained a crypto exchange operating license from Japan’s financial regulator.

The news was reported by Cointelegraph Japan on Sept 6.

Trading for 5 major cryptocurrencies

As previously reported, LVC Corp.’s trading platform, to be dubbed BITMAX,

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Thai ‘Cryptocurrency Wizard’ Nabbed for Alleged Role in $16M Heist

A 48-year old Thai man who called himself the “cryptocurrency wizard” has been arrested in Bangkok over his alleged role in a 500 million baht ($16.3 million) crypto exchange fraud.

The Bangkok Post reports on Sept. 5 that police nabbed Mana Jumuang, who has been under an arrest warrant since Aug. 23,

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Coincheck Survey Service Allows Users to Trade Reward Points for Crypto

Cryptocurrency exchange Coincheck, a subsidiary of Japanese financial services firm Monex Group, partnered with marketing research company Macromill Group to launch the Coincheck Survey service that allows its users to exchange reward points for digital assets.

Survey participants can earn Bitcoin

According to Monex Group’s official press release published on Sept.

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Pompliano: Satoshi Should Win Nobel Peace Prize for Bitcoin

American investor and co-founder of Morgan Creek Digital Assets Anthony Pompliano has argued that Satoshi Nakomoto should be awarded the Nobel Peace Prize for inventing Bitcoin.

In a tweet posted on Sept. 3, Pompliano wrote:

“Satoshi should win the Nobel Peace Prize. We finally have a currency that can assume global reserve status without anyone having to engage in violence.”

And the prize goes to… X

Pompliano’s proposal faces the obvious hurdle of Nakamoto’s now-legendary disappearance in late 2010 — which has spurred almost as much speculation and fervent interest as the cryptocurrency he,

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India: 5 Arrested for Allegedly Torturing Bitcoin Businessman to Death

Five men in the Indian state of Kerala have been arrested for allegedly torturing the head of a failed $62.5 million Bitcoin investment scheme to death. Yahoo! News reported the news on Sept. 2.

Killers believe victim defrauded investors

According to the report, the Dehradun police in Uttarakhand were alerted to the incident after a local hospital found the body of the deceased in a car abandoned in a parking lot. 

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IEOs, ICOs, STOs and Now IDOs — How to Raise Funds for Crypto in 2019?

The crypto community has seen a tectonic shift in fundraising trends: from the decline of initial coin offerings (ICOs) to the hype around security token offerings (STOs) and then the rise of initial exchange offerings (IEOs). The inclination for fundraising seems to evolve every year. Similarly, 2019 brought with it a new way for crypto businesses to launch their tokens.

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Report: Telegram to Launch TON Blockchain Public Testing on Sept. 1

Telegram Open Network’s (TON) blockchain public testing will launch on Sept. 1, according to one of the investors.

On Aug. 28, Russian news outlet Vedomosti quoted an anonymous TON investor claiming to have learned this information from the development team, and the head of one of the companies that participated in the testing so far.

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US-China Trade War Driving Retail Investors to Bitcoin, Says EToro

Financial analysts say a growing number of retail investors are betting on Bitcoin (BTC) as a hedge against macroeconomic turbulence during the protracted United States-China trade war.

The London Economic reported the news on Aug. 29, citing data from eToro, a United Kingdom-based multi-asset investment platform and social network.

Correlated uptick in Bitcoin,

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Alleged Capital One Hacker Accused of Secretly Mining Cryptocurrency

The individual accused of perpetrating a massive-scale hack of credit card issuer Capital One also allegedly hacked cloud customers’ servers to mine cryptocurrency for herself. 

Court filings published on Aug. 28 reveal that Paige A. Thompson has been indicted on charges of both perpetrating the Capital One breach and of hacking into the servers of her employer’s cloud services customers for the purposes of cryptojacking.

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Switzerland’s First Licensed Crypto Bank is Eyeing Singapore Next

Swiss and Singapore-based cryptocurrency firm Sygnum is in talks with local regulators to seal a banking license in Singapore.

Business News Bloomberg reported on Aug. 28 that Syngum — which has only just recently been issued a conditional banking and securities dealer license in Switzerland — aims to become a fully regulated bank in Singapore as well.

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Algo VC Fund Raises $200 Million to Fast-Track Ethereum Rival

Algo Capital has raised $200 million — double its original goal — for its venture capital fund. 

According to a news release shared with Cointelegraph on Aug. 27, the new fund will invest in businesses helping to build infrastructure for the Algorand blockchain — an open-source public ledger and cryptocurrency payment system that utilizes a Byzantine Agreement message-passing protocol.  

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Crypto News From Japan: Week in Review

Japan is a friendly jurisdiction for cryptocurrency trading and development, having eliminated the consumption tax on Bitcoin (BTC) trading in 2017, after which it recognized the coin as legal tender. This week in Japan, a crypto exchange that was hacked earlier this year has closed its doors, while the central bank has come out as bullish on blockchain technology.

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Huobi Processed 50% of All PlusToken Withdrawals This Month: Report

Chinese crypto exchange Huobi has seen the highest number of withdrawals from the alleged crypto Ponzi scheme PlusToken to date, according to new research.

Chinese exchanges prevail

New York-based blockchain infrastructure firm Elementus released a study on Aug. 23, claiming that almost 50% of the total number of PlusToken withdrawals were sent to Huobi.

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Circle CEO Says Tokenized Fiat Currencies Are on the Horizon

Jeremy Allaire, the CEO of blockchain-based, crypto-inclusive money transfer company Circle, said that the firm has long held that major fiat currencies would eventually be tokenized.

Significant digital currencies

In an interview on Aug. 21 on the podcast Global Coin Research, Allaire said that Circle has thought for years that sovereign currencies would eventually be digitized.

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Crypto Taxation Around the Globe — What Do Regulations Look Like?

Upon its inception, Bitcoin was envisioned as a borderless currency that could be used by its owners without being affected by the regulatory impositions of any centralized agency or government body. And while this idea in itself is quite grand, the fact of the matter is that today’s crypto owners (across the globe) are subject to varying tax restrictions on their digital holdings by local regulatory bodies.

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Cryptocurrencies Used to Buy Illicit Drugs, Says White House

On Aug. 21, the White House issued two advisories regarding illicit drug purchases in the United States that contain references to the specific cryptocurrencies allegedly used as a part of this process.

The advisories were addressed to various financial institutions as well as digital payments platforms. The documents state:

“An analysis of sensitive financial data indicates that domestic illicit drug manufacturers,

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