Cryptocurrency Analysis and News Portal
Bitcoin (BTC) sellers were active during Asia hours after China’s central bank declared cryptocurrency related business illegal. BTC slipped below $42,000 and is down about 3% over the past 24 hours. Initial support is seen at $40,000, which could stabilize the pullback. Original Source
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Chinese authorities ordered a fresh crackdown on crypto mining and trading Friday, according to a statement posted on the People’s Bank of China site.The statement, signed by China’s top financial and cyberspace regulators, gives a comprehensive list of crypto activities that are forbidden, and orders local governments to crack down
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The U.S. Treasury Department is reportedly preparing a review highlighting challenges posed by stablecoin redemptions and the effect of a possible run on the crypto asset market.According to a Sept.16 report from Bloomberg citing anonymous sources, Treasury officials are readying policy recommendations designed to ensure stablecoin holders can freely convert
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BitRiver, the largest cryptocurrency mining colocation services provider in Russia, is unlikely to be affected by a new crypto crackdown from the Bank of Russia, according to the firm’s CEO.On Sept. 15, the Russian central bank announced that the authority has started working with local banks in order to slow
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Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of the region’s computing power in the crypto activities which the
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SEC Chairman Gary Gensler yesterday delivered lengthy testimony before the Senate Banking, Housing and Urban Affairs Committee, covering a variety of topics including the agency’s plans for more structured regulation of cryptocurrency. With many in the industry decrying what has often appeared to be a scattershot and improvised approach to
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This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Victory for the regulatorsAfter a tumultuous summer of crackdowns, the Chinese regulators are declaring their victory in eliminating illegal
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The summer of regulatory action has now become a global phenomenon. Lawmakers and politicians are waving their fingers and making threats toward the industry’s leading virtual asset service providers — a term coined by the FATF to describe exchanges, wallets, custodians and even DeFi platforms. But when it comes to crackdowns
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Nigerian cryptocurrency adoption continues to rise in spite of government crackdown, with peer-to-peer (P2P) trade volume for Bitcoin posting its second strongest week on record last month.According to data from Google Trends, Nigeria still ranks number by search interest for the keyword “Bitcoin” as of this writing. P2P Bitcoin trading
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