Blockchain 

Chinese Regulators Set to Push Inspections of Crypto Mining firms

Regulators in the Chinese autonomous province of Inner Mongolia continue to crack down on the province’s crypto mining companies. The Global Times reported on Nov. 13 that northern China’s Inner Mongolia Autonomous Region is tightening its grip on crypto mining companies, as it intends to dispatch inspection units to assure the “clean-up and rectification of crypto token mining companies” in the region. “Crypto token market has come to an end in China” Cryptocurrency mining companies whose businesses are deemed to be irrelevant to the “real economy” will be the key…

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Blockchain 

Boxing Legend Manny Pacquiao’s PAC Token Set for IEO on Nov. 12

Boxing legend and Phillipino politician Manny Pacquiao’s PAC token will become available for purchase on the Singapore-based GCOX crypto exchange through an initial exchange offering on Nov. 12, according to a press release shared with Cointelegraph. The PAC token was first launched at the start of September this year, and its main purpose is to facilitate the purchase of merchandise and social media interactions with the Philippines-born current welterweight champion. According to previous reports, the token’s launch was backed and supported by Sheikh Khaled bin Zayed al-Nahyan, a member of…

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Bitcoin 

Bakkt Set to Smash Bitcoin Trading Volume Record in November

Bitcoin (BTC) futures trading on the Intercontinental Exchange Bakkt platform is seeing a considerable rise in average daily volume so far this month compared to September and most of October. Volumes yesterday, Nov. 5, hit close to their all-time-high — with 1061 traded contracts worth $10 million, a 96% increase over the previous day. According to tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with a Dutch journalist and crypto author Gert-Jan Lasterie — the platform had posted its…

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Blockchain 

Hyundai’s Blockchain Arm to Set Up $10M Fund for Mainnet Launch: Report

Hdac Technology, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group, plans to set up a $10 million blockchain investment fund in 2019. Hdac testnet to launch in November 2019 Hdac will spend the funds to launch its mainnet as well as to develop decentralized applications, support new industry startups and create an ecosystem with a “cryptocurrency compensation system,” Korean outlet The Financial News reported on Oct. 6. Hdac, issuer of Hyundai token (HDAC), is planning to release its mainnet in Q1 2020, the report notes. As…

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Bitcoin 

Bitcoin Price Clings to $8K as 37,000 BTC Options Set to Expire Today

Bitcoin price (BTC) stayed bounced back above $8,000 on Sept. 27, the day when over 50% of open interest in Bitcoin options is set to expire.  Cryptocurrency market daily overview. Source: Coin360 37,000 Bitcoin options expire Data from Coin360 showed BTC/USD fluctuating around the $8,000 mark over the past 24 hours, having briefly fallen to new recent lows of $7,733. The lackluster performance continued a week of misery for Bitcoin traders, who saw the largest cryptocurrency shed a total of 21% since the previous weekend.  Bitcoin seven-day price chart. Source:…

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Bitcoin 

Bitcoin Miners Uber Bullish as Difficulty Set for 60% Quarterly Growth

Bitcoin (BTC) will see its mining difficulty grow by almost two-thirds in Q3 2019, new data reveals as the metric astounds markets. Bitcoin metrics show big competition in play Uploading historical and future projections to Twitter on Sept. 19, well-known analyst Kevin Rooke noted difficulty had already expanded at an average of 42% each quarter since 2016. With the exception of Q4 2018, the floor of the Bitcoin bear market, growth has been positive consistently ever since. 2019’s increases have been almost vertical compared to the previous period. “Difficulty is…

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Cryptocurrency 

Alibaba and Tencent all Set to Get First Chinese Government Cryptocurrency

Ever since cryptocurrencies first captured the global consciousness a few years ago, several institutions from around the world have expressed their willingness to issue crypto tokens of their own and the most recent one is the Chinese central bank. A few weeks ago, it emerged that People’s Bank of China was all set to issue its own cryptocurrency and now it has emerged that the cryptocurrency is going to be disbursed to seven entities in the country. The update was revealed by the former global head of financial strategy at…

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Ethereum 

France Set to Approve First Crypto Firms Under New Rules This Month

France is poised to approve initial coin offerings (ICO) operators and other crypto businesses with its new regulatory approach to the sector.  ‘France is a Precursor’ As Reuters reported on July 16, the new rules — expected to take effect later this month — will enable crypto-related businesses to voluntarily submit themselves to national standards on capital requirements, consumer protection and taxation in return for the regulator’s green light.   Anne Marechal — executive director for legal affairs at the Financial Markets Authority (AMF) — told reporters that the bold crypto…

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Ethereum 

Iran Bitcoin Miners Set Up Shop in Mosques Amid Gov’t Crackdown

Iranian bitcoin (BTC) miners are moving into mosques as the government launches an energy crackdown, social media users revealed on June 25. Iran, which offers free energy to mosques, now has around 100 miners occupying places of worship, generating much-needed income of around $260,000 a year.  “This money goes a long way in Iran’s choked sanctioned economy,” Oxford University researcher Mahsa Alimardani explained on Twitter.  Despite its increasingly troubled economic situation, Iran remains uncoordinated when it comes to cryptocurrency policy.  Last year, the central bank officially forbade lenders from servicing…

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Blockchain 

Visa Set to Join the Expanding Field of Blockchain-Based International Payment Providers

Visa has launched a payment system for business-to-business (B2B) transactions partially based on blockchain technology. The United States payment behemoth says its platform, called Visa B2B Connect, offers seamless cross-border payment processing for institutional clients without going through the complex web of third-party intermediaries. In doing so, Visa becomes the latest entrant into the blockchain-based payment processing arena. This move brings the company into direct competition with cryptocurrency startups like Ripple and mainstream players, such as Barclays and BNY Mellon with their Utility Settlement Coin (USC) project under the aegis of the Fnality Consortium. Visa…

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