China has introduced its toughest regulations over bitcoin and other virtual currencies, as all related virtual currency business activities, including “mining,” and overseas exchanges services for domestic residents, are deemed to be “illegal.” On Sept. 24, China’s central bank issued a joint notice, with the Public Security Bureau and eight other departments, specifying that all…
China Intends to Eliminate Virtual Currency Transactions
October 1, 2021
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Bitcoin Jumps 9 Percent to Touch 12-Day High
LONDON—Bitcoin extended gains on Friday, climbing over 9 percent in late morning trade to $47,800, its highest level in 12 days. The largest cryptocurrency was last up 7.9 percent at $47,263, which if maintained would be its largest one-day jump since mid-June. Smaller coins ether and XRP, which tend to move in tandem with bitcoin,…
Bitcoin Rises 5.2 Percent to $43,717
Bitcoin was up 5.23 percent at $43,716.97 as of 22:08 GMT on Thursday, adding $2,174.07 to its previous close. The world’s biggest and best-known cryptocurrency has gained 57.6 percent from the year’s low of $27,734 on Jan. 4. Ether, the coin linked to the ethereum blockchain network, rose 5.26 percent to $3,001.48, adding $150.08 to…
Bitcoin Miners Forging Partnerships With Struggling Nuclear Power Plants Amid Criticism Over Environmental Impact
September 27, 2021
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Bitcoin miners facing growing scrutiny over the environmental impact of the process have turned to struggling carbon-free nuclear plants in an effort to resolve issues facing the industry, The Wall Street Journal reported. Miners hope the partnerships will create more stable and environmentally-friendly power, while also benefiting nuclear plants that are facing stiff competition from cheaper power sources and…
Crypto-Linked Stocks Plunge in Hong Kong, Bitcoin Steadies
September 27, 2021
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HONG KONG/SINGAPORE—Cryptocurrency-linked stocks dropped in Hong Kong on Monday morning, after Chinese authorities intensified their crackdown on the industry, while major cryptocurrencies steadied. Shares of crypto asset manager and trading firm Huobi Tech, an affiliate of Huobi Global, one of the world’s largest exchanges, fell more than 30 percent after the opening bell. Huobi Global…
NTD Business Full Broadcast (Sept. 24)
Tipping on Twitter. You can now send content creators tips with Bitcoin. What else is it planning to attract users with large followings? Delta airlines calling on its peers to share their list of banned passengers, in an effort to to protect airline employees. Thousands are on such a list already. Long lines at some…
China’s Central Bank Declares All Cryptocurrency-Related Activities Illegal
September 24, 2021
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China’s central bank has declared all cryptocurrency-related transactions illegal while vowing to crack down on the virtual currency market. The People’s Bank of China said in a statement, translated by CNBC, that services offering trading, order matching, token issuance, and derivatives for virtual currencies are strictly prohibited. Overseas crypto exchanges providing services in mainland China are…
Bitcoin Attempts Recovery as Evergrande-Led Selloff Eases
Cryptocurrency prices bounced off 1–1/2 month lows on Tuesday as a heavy selloff overnight linked to concerns about a possible loan default by property developer China Evergrande eased slightly, but investors braced for more volatility. Bitcoin, the biggest and the best known cryptocurrency, traded around $43,000, recovering from a fall to $40,192 earlier in the…
Regulation Is Coming to the Crypto Business
By Daniel Priestley For the last decade, crypto businesses have operated largely outside of the reach of global regulators. Entrepreneurs have created vast fortunes offering financial products that are not constrained by financial regulations. All of that is about to change. Last week the SEC announced plans to sue the USA’s largest crypto exchange Coinbase…
El Salvador’s Adoption of Bitcoin Has Negative Implications for Rating: S&P Global
S&P Global Ratings has warned that El Salvador’s adoption of bitcoin as legal tender is burdened by risk and will have a negative impact the country’s credit rating. “The risks associated with the adoption of bitcoin as legal tender in El Salvador seem to outweigh its potential benefits. There are immediate negative implications for credit,…
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