Tag Archives: China

Singapore Confirms It Will Not ‘Ban’ Cryptocurrency, Has No ‘Risk Concerns’

Singapore Confirms It Will Not ‘Ban’ Cryptocurrency, Has No ‘Risk Concerns’

Singapore’s deputy prime minister Tharman Shanmugaratnam provided new commentary on the government’s commitment “not to ban” cryptocurrency as part of its future regulatory plans. In a series of fourteen statements published Monday, Feb. 5 in response to questions posed by members of parliament Tuesday, Tharman Shanmugaratnam, deputy prime minister and minister in charge of regulatory body the […]

Traditional Markets Nosedive, Following Bitcoin’s Own Slump Below $7k

Traditional Markets Nosedive, Following Bitcoin’s Own Slump Below $7k

The Dow Jones Industrial Average dropped more than 1,100 points Monday, Feb. 5 to its lowest point since 2011, while Bitcoin (BTC) also dipped below $7000 for the first time since November. The market dive took place around 2:40 pm EST, with reported trading volume at almost double the 30-day average, according to Bloomberg. While CNBC reported that no “particular piece of news” […]

Bitcoin Tops 159 Individual Countries in Energy Consumption at $2 Billion Per Year

Bitcoin Tops 159 Individual Countries in Energy Consumption at $2 Billion Per Year

According to data consultant Alex de Vries and his Bitcoin Energy Consumption Index, the process of transacting with and mining the digital currency translates to huge real-world energy consumption. So much so that verifying Bitcoin transactions tops 159 individual countries in energy consumption. In total, the whole Bitcoin network spends almost $2 billion per year mining. As […]

With China Tightening Regulations, Crypto-related Ads Reportedly Gone From Local Websites

With China Tightening Regulations, Crypto-related Ads Reportedly Gone From Local Websites

Cryptocurrency-related advertisements have stopped appearing on Chinese search engine Baidu and social media platform Weibo, amidst reports of China’s government tightening cryptocurrency and Initial Coin Offering regulations on Sunday, Feb. 4. The Financial Times of the People’s Bank of China (PBOC) was told today, Feb. 4, that China will further increase regulatory pressure on cryptocurrency exchange sites and Initial Coin […]

Bitcoin’s 2 Month Low – Sign of the Time

Bitcoin’s 2 Month Low – Sign of the Time

2018 has been particularly cumbersome for the cryptocurrency markets, as Bitcoin and its altcoin brethren have endured a bashing. The preeminent cryptocurrency has hit a two month low sitting around $8,800 according to Coinmarketcap data at the time of writing. There are a plethora of reasons why the market has been trampled in the first month of the new […]

How Chinese Bitcoin Buyers Are Getting Around Government Ban

How Chinese Bitcoin Buyers Are Getting Around Government Ban

Chinese citizens are still investing in Bitcoin and the cryptocurrency market despite the government’s heavy crackdown. In September 2017, Chinese cryptocurrency exchanges BTCC China, Huobi and OKCoin were ordered by the government to shut down their businesses. At one point, executives of the three cryptocurrency exchanges were prevented from leaving the country, due to a […]

PBoC Reportedly Orders Payment Services to Stop Serving Crypto Traders

PBoC Reportedly Orders Payment Services to Stop Serving Crypto Traders

The Business Administration Department of the People’s Bank of China (PBoC) has reportedly issued a document today requiring payment providers in Beijing to stop facilitating cryptocurrency trading activities. The news, first reported by Securities Times, a state-owned media outlet launched by the Communism Party mouthpiece the People’s Daily, said the document requires payment companies to start […]

As Bitcoin’s Slide Continues, Prices Look Towards $8K

As Bitcoin’s Slide Continues, Prices Look Towards $8K

Bitcoin looks like it might soon test near-$8,000 levels, as December’s record-breaking rally continues to unravel. With major losses over the last few days seemingly brought about by negative regulatory news from China and South Korea, bitcoin (BTC) is trading at $10,280 levels at time of writing, according to Coindesk’s Bitcoin Price Index.   A slight recovery from the 1.5-month […]