Tuesday News Roundup

Tuesday News Roundup

 REACTIONS FROM CHINA’S BLOCKCHAIN ANNOUNCEMENT

Since the blockchain frenzy in China following President Xi Jinping’s endorsement- check out Xi Jinping’s Full Speech –contexualized and translated -at the 18th Collective Study of the Chinese Political Bureau. We have seen various reactions from the markets and world leaders: 

MARKETS

FT: Xi Jinping’s endorsement of blockchain sparks China stocks frenzy. https://on.ft.com/2BOLGUx

WeChat Searches for ‘Blockchain’ and A-Share Stocks Skyrocket: Stocks in Chinese blockchain A-share firms maxed out to their 10% daily limit after an endorsement of the technology from the highest echelons of power. http://bit.ly/2JuOjiu

Chinese cryptocurrencies have emerged from the doldrums to take centre stage. Home-grown cryptocurrencies NEO, Ontology (ONT), Quantum (QTUM), VeChain (VET) and others saw gains of more than 50%. Bytom (BTM), saw an increase of 459%, as per reports on China’s Huobi exchange. Google translate

POLITICS

China Passes First-Ever ‘Crypto Law’ Going Into Effect January 2020: the new regulatory framework aims to set standards for the application of cryptography and the management of passwords. http://bit.ly/31VzQlS

China’s politics and law committee stated in its WeChat official account that China is striving for the number one in blockchain area all over the world. http://bit.ly/2JvMWA9

A leading executive at a Chinese economics think tank has said that China’s central bank will be the first to launch a digital currency successfully. http://bit.ly/2JuPVZH

In a sign of China’s abrupt official about-turn on blockchain, officials are deleting posts that claim the technology is a scam.  Xuexi Qiangguo, China’s most downloaded app on Apple’s App Store, will feature educational content on Bitcoin (BTC) and Ether (ETH). http://bit.ly/34aJlPU

China Wants Communist Party Members to Pledge Loyalty on Blockchain. http://bit.ly/36p9MmS

Governments in emerging markets must have greater say in the regulation of digital currencies that could facilitate illegal capital flows and disrupt foreign exchange management, a senior official of China’s foreign exchange regulator. https://reut.rs/2PDHqzp

A local politician is now considering how to make China’s Sichuan province – a major bitcoin mining hubremain attractive to the crypto industry. http://bit.ly/34ggVDR

BUSINESS

WeChat parent company Tencent has got the green light to draft international blockchain-based invoice standards. http://bit.ly/2MWD1Ww

MEDIA

People’s Daily, China’s official news outlet, caries that Beijing’s previously-announced support for blockchain should not be read as support for crypto. http://bit.ly/36gTY5B

 Top News from Friday to Today

Bitmain co-founder and executive director Micree Zhan is out abruptly, Jihan Wu takes over. http://bit.ly/2JykZYl

Bitmain competitor Canaan publicly files for $400M IPO on Nasdaq. http://bit.ly/2Ws1qq2

Leon Li, CEO of Huobi, and the History of Huobi (Part 1). http://bit.ly/2KnEG4b

?

  Coins News


Samsung Galaxy phones to support Tron via Blockchain Keystore app-to becomes the fourth coin available on the Blockchain Keystore, following Ethereum (ETH), Bitcoin (BTC) and Klaytn (KLAY). http://bit.ly/2pdN3JN

?

  Exchange News

OKEx is planning to launch Tether (USDT) futures trading, offering a linear futures contract with leverage of up to 100x. http://bit.ly/34cAsFg

Klaytn’s Token KLAY Listed on Upbit Singapore. https://prn.to/2MXemRu

United States Securities and Exchange Commission (SEC) filing reveals that major cryptocurrency exchange Binance received a $250,000 “long-term payment” to keep Blockstack (STX) listed for one year. http://bit.ly/2PtJZDK

? Business

Samsung Galaxy phones to support Tron via Blockchain Keystore app-to becomes the fourth coin available on the Blockchain Keystore, following Ethereum (ETH), Bitcoin (BTC) and Klaytn (KLAY). http://bit.ly/2pdN3JN

Chinese tech giant Tencent Holdings has acknowledged that Facebook’s proposed cryptocurrency Libra could pose a serious threat to existing digital payment systems, including its own WeChat Pay as well as Alipay from rival Alibaba Group Holding. http://bit.ly/2Wm0QtA

A prominent Chinese political figure has joined the chorus of voices around the world raising questions about the viability of Facebook’s Libra digital currency, describing the coin as a “delusional” project that is destined to fail. http://bit.ly/2MSj9DG

China Studying Blockchain and AI for Cross-Border Financing: China is looking into the application of blockchain and Artificial Intelligence (AI) to cross-border financing, Reuters reports. http://bit.ly/3202aE0

?? Regulation

Argentina imposes further capital controls; sharply cuts USD buying limits to $200 a month. http://bit.ly/2qPwxjm

The Securities and Commodities Authority (SCA) in the United Arab Emirates has drafted a resolution on regulating crypto assets, providing greater clarity for crypto-related projects in the Middle East nation. http://bit.ly/2PrqU5p

Despite talks of the Indian government planning to introduce a bill to ban cryptocurrency in Parliament this winter session, India residents have been presented with a means to deposit Indian Rupee (INR) to buy and sell cryptocurrencies which has not been possible for several months. http://bit.ly/2pVKX19

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