BRICS Nations Discuss Shared Crypto to Break Away From USD and SWIFT

Brazil, Russia, India, China and South Africa, or the BRICS economic bloc, are engaging in discussions to issue cross-national digital money in order to reduce the dependence of their economies on the United States, as reported by Cointelegraph on Nov. 14. What will the new cryptocurrency look like, how does the BRICS group plan to use it and are there any existing projects underway that seek to achieve a similar goal of independence on such a high level? 

Continue Reading …

89% of Chinese Blockchain Firms Have Tried to Issue Crypto: Report

89% of China’s blockchain firms have allegedly tried to create their own cryptocurrency, according to a senior exec at a local blockchain association. 

According to the state-run CCTV on Nov. 21, Yedong Zhu, the president of the Beijing Blockchain Technology Application Association (BBAA), revealed that the vast majority of blockchain industry in China is focused on tokens,

Continue Reading …

Crypto Asset Diversification Vs. All Eggs in One Basket

What’s an effective way to diversify a crypto portfolio? Are crypto assets able to be diversified at all? These are the questions that many “Hodlers” have been asking. The slow bleed of Bitcoin (BTC) and other major cryptocurrencies prices has been challenging investors and their holding powers. Despite BTC still able to maintain its 112% year-to-date gains so far — thanks to the massive bull run in the second quarter and the recent China-inspired rally — the recent price correction could pressure some of the latecomers.

Continue Reading …

Binance.US Now Provides Institutional Liquidity to Crypto Brokerage Firm Tagomi

Binance’s cryptocurrency trading platform for United States-based users, Binance.US, has partnered with crypto brokerage firm Tagomi to provide institutional liquidity for its users.

The partnership was announced in a Nov. 21 press release, detailing that Binance.US will now offer institutional liquidity for Tagomi’s users, including quant funds, venture funds, family offices, individual retirement accounts and high-net-worth individuals.

Continue Reading …

Singapore: Crypto Derivatives Set to Come Under Regulatory Oversight

Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has proposed bringing crypto derivatives trading under its purview.

According to a BNN Bloomberg report on Nov. 20, the MAS’ proposal would make the trading of derivatives based on underlying assets like Bitcoin (BTC) and Ether (ETH) subject to the city-state’s Securities and Futures Act.

Continue Reading …

Canada’s Largest Bank Refutes Rumors About It Launching Crypto Exchange

The Royal Bank of Canada (RBC) — the largest bank in Canada with $499 billion in assets under management — will not launch its own digital currency trading platform, contrary to previously published news.

Last week, rumors that the RBC was exploring the possibility of launching its own cryptocurrency exchange began circulating the internet on a range of finance and economics-focused publications.

Continue Reading …

Indian Parliament Will Not Consider Total Crypto Ban in Winter Session

The Indian government will not be considering a cryptocurrency-related draft bill during the winter session of Parliament as was previously planned. The draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies” is not included in the session agenda issued in India’s lower house of parliament, Lok Sabha, on Nov. 14.

In August 2019,

Continue Reading …

HTC Launches Limited Run of Smartphone With Crypto Exchange Binance

Taiwan-based smartphone maker HTC will launch a limited edition of the Exodus 1 featuring services by major global crypto exchange Binance. The Binance Edition Exodus 1 supports the Binance public blockchain, Binance Chain, as well as its decentralized counterpart Binance DEX, the firms announced Nov. 12.

Exodus 1’s native crypto wallet is integrated with Binance DEX

HTC and Binance announced the news at a Binance Super Meetup in Singapore attended by Binance CEO Changpeng Zhao and CFO Wei Zhou,

Continue Reading …

Peter Schiff: China's Gold-Backed Crypto Would Be Bearish for Bitcoin

China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser. 

Schiff tells Keiser: gold backing beats BTC

“According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin,” he wrote. 

Continue Reading …

EOS Holds Top Spot, Bitcoin 11th in China’s Latest Crypto Rankings

China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019.

The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal. 

Continue Reading …

China Passes First-Ever ‘Crypto Law’ Going Into Effect January 2020

The Standing Committee of the 13th National People’s Congress in China has passed a new law regulating cryptography on Oct. 26 that will take effect on Jan. 1, 2020, reports local news outlet CCTV. 

Per the report, the new regulatory framework aims to set standards for the application of cryptography and the management of passwords.

Continue Reading …

NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price

A now-viral post by a Chinese cryptocurrency trader has highlighted the stark drop in the price of American sneaker-backed tokens in the wake of the fallout between the NBA and China.

As Reuters reports on Oct. 16, the anonymous trader’s Weibo post from earlier this month had shone a spotlight on an apparent 10% crash in the price of crypto tokens backed by Nike’s Air Jordan sneakers on a United States-based exchange.

Continue Reading …

Nasdaq Lists AI-Powered Crypto Index for Top 100 Coins

The world’s second-largest stock exchange, Nasdaq, has listed the AI-powered CIX100 index created by crypto data provider Cryptoindex. The news was revealed in a press release shared with Cointelegraph on Oct. 15.

Neural network-based analysis

CIX100 is a crypto market benchmark that analyzes uses a neural network algorithm to analyze data for the top 100 cryptocurrencies,

Continue Reading …

N. Korean Hackers’ New MacOS Malware Hides Behind Fake Crypto Firm

The notorious North Korean hackers known as the Lazarus APT Group have created another malware targeting Apple Macs that masquerades behind a fake cryptocurrency firm.

Apple Mac security specialist and principal security researcher at Jamf Patrick Wardle published a blog post on Oct. 12 outlining the nature of the malware, revealed by MalwareHunterTeam (MHT) researchers the previous day.

Continue Reading …

‘Hurun China Rich List 2019’ Features 12 Crypto Magnates

“Hurun China Rich List 2019” published by Hurun Report, a research, media and investments firm, features 12 local cryptocurrency magnates.

The latest list was published on Oct. 10 and includes co-founders of mining giant Bitmain Micree Zhan and Jihan Wu, founder of major crypto exchange Binance Changpeng Zhao and founder of competing OKCoin — Star Xu.

Continue Reading …

South Korea Is Hoping for Regulatory Clarity as Crypto Laws Toughen

South Korean regulators seems to strongly favor blockchain over cryptocurrencies, and some recent events have further proven this hypothesis. As a result, as much as 97% of local digital assets exchanges are in danger of extinction, local reports suggest. 

Meanwhile, local politicians and regulators have started lobbying a new set of regulations,

Continue Reading …

Bithumb Global to Launch Regulated Crypto Exchange in India: Report

South Korean exchange Bithumb’s international platform Bithumb Global is looking to establish a regulated cryptocurrency exchange in India.

The firm is planning to expand its services to India by partnering with local crypto exchanges, funding local blockchain startups and working on new industry initiatives, local media outlet The Economic Times reports Oct.

Continue Reading …

How Crypto Gambling Is Regulated Around the World

The Japanese House of Representatives recently passed new crypto asset regulation affecting exchanges and custodians — the Payment Services Act and the Financial Instruments and Exchange Act. However, the country’s crypto gambling industry still endures strict gambling regulations. 

“Japan has very strict rules regarding gambling and the same applies to crypto gambling,” Joseph D.

Continue Reading …

ING Chief Economist: Libra Accelerating Central Banks’ Crypto Plans

The chief economist of Dutch multinational banking and financial services giant ING says that Facebook’s plan to launch a digital currency has put pressure on central banks to launch their own.

In an article and video interview published on ING’s THINK portal on Sept. 27, Mark Cliffe said that there was “some urgency in the policy community” sparked by Facebook’s unveiling of the Libra stablecoin,

Continue Reading …

Economic Turmoil: The Chances and Challenges for Blockchain and Crypto

Everywhere you look these days, there’s turbulence in the economy. A bitter trade war is seeing the United States and China slap ever-increasing tariffs on goods on a tit-for-tat basis. Over in the United Kingdom, never-ending uncertainty shrouds Brexit, with politicians in Westminster and Brussels at an impasse over the country’s imminent departure from the European Union. 

Continue Reading …

Armenian IT Company Accused of Illegal Electricity Use to Mine Crypto

An IT company in Armenia has been accused of illegally accessing electricity and using it to mine cryptocurrencies.

$150,000 in power

On Sept. 21, in an announcement from the Armenian National Security Service, the organization accused an IT company of illegally mining cryptocurrencies from inside a hydropower plant.

The state agency reported that the IT company had installed cryptocurrency mining equipment inside one of the hydropower plants operating in Armenia and as a result illegally consumed 1.5 kilowatt-hours of electricity — worth more than $150,000,

Continue Reading …

Kyrgyzstan Cuts Off Power to 45 Crypto Miners for Overconsumption

Authorities of Kyrgyzstan cut off power to 45 crypto mining firms as they consumed more energy than three local regions combined.

Following the power cut, the head of the National Energy Holding Aitmamat Nazarov stated that the cryptocurrency mining is not defined under Kyrgyzstan law, local news agency AKIpress reported on Sept.

Continue Reading …

ING: 32% of Europeans Believe Crypto Is the Future of E-Payments

Most Europeans believe cryptocurrencies can be spent in most stores, according to the results of a survey conducted by ING Bank and published on Sept. 18.

Crypto can be spent in most stores?

The survey, which has seen 15,000 Europeans from 15 different countries answer questions about crypto, revealed that 51% of the respondents believe cryptocurrencies can be spent in most stores. 

Continue Reading …

Crypto News From Asia: Sept. 9–15

In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Japan, government and industry officials secured important appointments, while new data shows the popularity of cryptocurrencies and their favored uses in Japan and China. 

Expert: Bitcoin is most commonly used for remittances in China

On Sept. 11, Cointelegraph Japan reported that Sunny Wang,

Continue Reading …

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.

Continue Reading …