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Tag Archives: China

Elon Musk Hates the Idea of Crypto Regulation

Elon Musk – the South African billionaire and entrepreneur behind mega companies like Tesla and SpaceX – believes that crypto regulation should not exist and that governments should just mind their own business. Elon Musk Doesn’t Care for Governments Getting Involved in Crypto Musk is echoing the age-old argument that digital currencies are designed to be decentralized assets. They are not meant to be overseen by banks or standard financial institutions. Third parties...

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Chinese Users of KuCoin Exchange Forced to Close Their Accounts Till End of 2021

Mainland Chinese users of KuCoin will have to withdraw all their funds and close their accounts by the end of the year, said the exchange earlier today. This is a direct consequence of the latest crackdown from the People’s Bank of China. Citing the regulatory pressure from the Chinese authorities, KuCoin announced earlier on October 3rd that all local users will have to close their existing positions and withdraw the remaining funds out of the exchange before 24:00 (UTC +8)...

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Crypto Traders in China Have No Exchanges to Turn To

The recent death punch to both bitcoin and its crypto counterparts by way of China has got the entire digital currency space in a grip of fear. Now, many crypto exchanges are beginning to drop Chinese customers as a means of avoiding trouble down the line. They are not accepting traders from China, nor are they allowing the Chinese customers they already have onboard to stick around much longer. China Is Hurting Its Crypto Traders China has been on a serious roll to...

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Bitcoin at 10-Day High After Powell and Despite China FUD: The Weekly Recap

It’s been a very productive week in the cryptocurrency market, but it’s safe to say that most of it was due to the volatile price action during just one of the days – Friday, October 1st. Going back, last Friday, the BTC price was hovering around $43,500, and, in fact, it stayed there for quite some time. This wasn’t so bad, given the overall regulatory scrutiny towards the market and yet another wave of FUD coming from China. The country said that it’s banning the trading of...

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The US Should do The Opposite of China on Crypto: a16z Partner

Speaking at CNBC’s Delivering Alpha conference on Sept. 29, a16z partner Katie Haun said the U.S. should look towards China for what not to do. She was referring to Beijing’s incessant crackdowns on the crypto industry and any activities related to the trade of digital currencies. In her view, financial regulators in the U.S. should be doing the exact opposite, but at the moment, it appears they are following in China’s footsteps with moves to over-regulate crypto rather than...

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JPMorgan: Ethereum Is Suddenly More Popular Than BTC

According to JPMorgan, many investors are trading their bitcoin in for Ethereum. JPMorgan: Ethereum’s Stature Is Growing The world’s number one digital currency by market cap has suffered as of late thanks to additional actions taken by China, which seems to be hellbent on removing bitcoin from every corner. After recently announcing that all transactions and activities relating to digital currency were outlawed, the currency fell by about $2,000, dipping from $44,000...

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Huobi’s Bitcoin Mining Pool Moves 100K BTC Following the Chinese Crackdown

After China recently banned all crypto-related activities in the country, crypto exchange Huobi Global had to limit mainland Chinese citizens from registering on the platform. As a consequence, the Huobi pool – the eighth biggest BTC pool-  is now moving a massive amount out of their funds, possibly to cover the client withdrawal needs on the exchange. $4.21 Billion Flowing Out From Miners Data from research company IntoTheBlock shows that Huobi Pool has recently moved almost...

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Elon Musk Urged The US Government to Do Nothing with Crypto Regulations

Tesla’s CEO – Elon Musk – believes authorities are unable to “destroy” the digital asset industry. He advised the American government to let crypto “fly” instead of implementing legislation on it. Additionally, he gave his reasons why China has a hostile stance on cryptocurrencies. ‘Just Let It Fly’ In a recent interview with Kara Swisher, the prominent entrepreneur and business magnate – Elon Musk – shared his thoughts on some of the hottest topics in the digital asset...

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Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space. The European DeFi Boom Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value...

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Miami Working on Allowing Tax Payments in Bitcoin, Promised Mayor Suarez

A few months after hinting that Miami residents could soon be able to pay their taxes with bitcoin, the city’s mayor – Francis Suarez – said the process has begun as his team will issue the request in October. Separately, Suarez also touched upon the most recent actions undertaken by the Chinese government, adding that the US could take advantage of this “huge mistake.” Miami Citizens to Pay Taxes in BTC? Being a BTC and ETH holder for a while, Francis Suarez has become one...

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