Tuesday News Roundup

 Top News from Friday to Today

What to expect from the Chinese Blockchain Scene after Xi’s speech.

Former Soviet Metal Construction Plant Is Now Mining Bitcoin

The People’s Bank of China released the China Financial Stability Report, reporting that since 2018, 173 domestic virtual currency trading and token issuance financing platforms have all exited without bringing national risk (this is what the CPC ultimately cares about) Google Translate

Binance Research found that 92.1 percent of respondents held funds in exchanges; 32.9 percent in cold wallets; 18.4 percent in hot wallets; and 2.6 percent in custody services.

The Chinese government loves blockchain. But tokens? Not so much.

Bitmex Research on Benford’s Law & Cryptocurrency Trading Data, Highlighting Data from Exchanges.-



Blockchain quiz platform BetProtocol announced the completion of $3 million in financing, led by NGC Ventures.

NEM Ventures Invests in Crypto PoS Provider Cyclebit.

Singapore-based BCB Blockchain announced that it has launched a $300,000 fund to support incubators and startup accelerators in the Philippines under the Department of Science and Technology (DOST).


  Coins News

ImToken has issued imBTC: A new kind of Bitcoin and within 4 weeks- is already up to ~133 tokenized BTC minted vs. 589 for WBTC, which has been out for a year.

Binance adds fiat support to buy crypto using Indian Rupee.

Tezos has partnered with Singapore government-backed blockchain platform Tribe to jointly launch a training program for developers on the Tezos blockchain.


  Exchange News

The Beijing police cracked the fraud of the illegal digital currency exchange BISS and arrested 10 suspects.

Bitfinex Responds to Mercenary and Baseless Class Action Complaint in Washington State.

BitMEX Insurance Fund Soars to All-Time High.

DEX week-over-week trade volume soars by 105%.

🧳 Business

Block Kong Breakfast: Phil Chen, HTC.

Crypto exchange Binance has partnered with Band Protocol, a decentralized data oracle platform that’s backed by Sequoia India, to provide price data for 600+ pairings listed on the exchange.

Matrixport, a cryptocurrency trading, custody and lending startup founded by Bitmain co-founder Jihan Wu, has expanded into Europe with a new office in Zurich, Switzerland.

Singapore-based blockchain firm BCB Blockchain has signed a memorandum of agreement (MoA) with a branch of the Philippines’ Department of Science and Technology (DOST) to support the development of local smart cities.

Multimedia University (MMU) has been given the approval by the Malaysia Digital Economy Corporation (MDEC) to establish the first Industry Competency Centre on Big Data and Blockchain for Malaysia.

⚖️ Regulations

China has initiated a fresh crackdown on virtual currency initial coin offerings and cryptocurrency trading – the governments of top tier cities, including Beijing, Shanghai and Shenzhen, issued risk alerts to the public, warning of “illegal fundraising”.

Chinese regulator State Administration of Foreign Exchange (SAFE) has helped firms borrow over $8.2 billion via its blockchain cross-border financing system in 8 months.

Shenzhen law enforcement has already identified 39 enterprises suspected of conducting illegal crypto activities, while the list has not yet been made public, this has been aided by the Tencent monitoring too.

What China’s new crypto law in 2020 is all about.

The Bank of Korea said it has no plans to issue government-controlled digital currencies or central bank digital currency (CBDC).

UAE central bank governor Mubarak Al Mansouri said the UAE-Saudi digital currency project will help reduce remittance costs and will also facilitate interbank transfers and mutual trade between the two countries.

Thailand’s Securities and Exchange Commission (SEC), the country’s financial regulator, plans to amend cryptocurrency rules to boost the growth of digital assets. Additionally, Thailand Introduces Blockchain-Based Tax Refunds for Oil Exporters.

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