Chinese Regulators Set to Push Inspections of Crypto Mining firms

Regulators in the Chinese autonomous province of Inner Mongolia intend to dispatch inspection units to assure the clean-up of local crypto mining companies. Regulators in the Chinese autonomous province of Inner Mongolia continue to crack down on the province’s crypto mining companies. The Global Times reported on Nov. 13 that northern China’s Inner Mongolia Autonomous Region is tightening its grip on crypto mining companies, as it intends to dispatch inspection units to assure the “clean-up and rectification of crypto token mining companies” in the region. “Crypto token market has come…

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‘We’ve Got to Be Careful’ With Crypto Regulation, Says QUOINE Co-Founder

According to Mike Kayamori, an evolving technology must be regulated very carefully. Speaking during an on-stage panel at BlockShow Asia 2019, QUOINE co-founder Mike Kayamori said he has always been in favor of crypto regulation, but has begun changing his mind: “Crypto is evolving, and the government can’t try to regulate things it still doesn’t understand.” Kayamori said he’s “always been a pro-regulation person,” but there is cause for being careful. “Politicians have their own agenda,” he said. “I am still in favor of crypto regulation, but [it] needs to…

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Germany Barely Avoids Recession, Economy Remains Stagnated

The German economy, the largest and most influential in Europe, narrowly missed falling into recession last quarter. But with quarterly GDP growth averaging a little over 0% since the third quarter of last year, the Old Continent’s economic powerhouse is facing stagnation. Also read: Germany’s Financial Crisis Invokes 5-Year Rent Freeze Dodging Recession by a Hair With a seasonally adjusted 0.1% gross domestic product (GDP) growth in Q3 over the previous quarter, the German economy has surprised analysts who expected it to shrink by 0.1%. The good news comes on…

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Exclusive: SingularityNET Announces Its New PayPal Integration

The bridge between crypto and fiat is getting stronger. The bridge between crypto and fiat is getting stronger. Speaking on stage at BlockShow Asia 2019, Chief Scientist and CEO of decentralized AI marketplace SingularityNET announced new support for conventional PayPal transactions to support the purchase of the platform’s AGI tokens. “We’re excited about this. It opens the door for new ways to promote and grow the network,” Goertzel said. This move opens the door for SingularityNET to grow its platform, gaining easy access to PayPal’s 286 million users. Earlier iterations…

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WSJ: Three ICO Startups Missed

Three firms that collectively raised about $40 million through unregulated ICOs in 2017 missed the deadlines set forward in their settlements with the SEC. Several firms that collectively raised about $40 million through unregulated initial coin offerings (ICOs) in 2017 missed their deadlines to repay investors following charges by the United States Securities and Exchange Commission (SEC). The Wall Street Journal reported on Nov. 14 that the firms agreed to repay investors or provide more transparency in exchange for lower fines, but did not follow through. The tardy firms Airfox…

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Blacklists Aren’t Enough To Stop Crypto Fraud

We need a high level of evaluation for how this data is gathered instead. The security experts at BlockShow Asia 2019 agree: creating a unified blacklist for scammers and fraudsters is not only difficult, but it’s not enough to solve these issues within the crypto space. Cryptocurrency service providers like exchanges already maintain their own separate blacklists. Combining these into one list may look useful, but it’s not especially easy to do.  Ulisse Dell’Orto, managing director at Chainalysis, pointed out the need for a “high level of evaluation about how…

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Central Bank of China Starts Trials to Restrict Large Cash Transactions

The People’s Bank of China will pilot a restriction on large-scale cash transactions in three different regions, possibly paving the way for its upcoming digital currency. The People’s Bank of China (PBOC) announced that it will pilot a restriction on large-scale cash transactions in three different regions across the country, with one expert calling the move paving the way for its upcoming digital Renminbi token (RMB). On Nov. 14, local news outlet Xinhuanet reported that the PBOC intends to carry out a large-scale cash management trial that will last for…

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Iranian Grid Explains Electrical Costs Will Fluctuate for Bitcoin Miners

Throughout the course of 2019, Iran’s government and the country’s energy officials have been creating new guidelines for bitcoin miners setting up data facilities in the oil-rich nation. On Wednesday, Mostafa Rajabi, a spokesperson for Iran’s Energy Ministry, described a new price model for mining operations and prices per kilowatt-hour (kWh) will fluctuate during certain months. Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque Iran’s Energy Ministry Plans to Pay Anyone Who Exposes Illegal Bitcoin Mining Operations There’s been a lot of reports over the…

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Ingenico Partners with Pundi X to Unlock Android-Based Crypto Payments

Pundi X has integrated its XPOS gateway into Ingenico’s mobile portable POS solution APOS A8 to allow payments via Android. French payment firm Ingenico has partnered with Singapore-based crypto startup Pundi X to enable its customers to receive payments in crypto using smartphones.  Pundi X has integrated its point-of-sale payment gateway (XPOS) into Ingenico’s mobile portable POS solution APOS A8, the firm announced on Nov. 12. Through this partnership, merchants around the world using Ingenico’s Android-based APOS A8 will now be able to accept a wide number of crypto as…

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BRICS Nations Discuss Creation of New Crypto For Unified Payment System

The creation of a new cryptocurrency for BRICS member nations was discussed at the 11th annual BRICS Summit 2019. According to one official in attendance, members of international association BRICS discussed the creation of a new cryptocurrency at a recent summit. On Nov. 14, Russian financial news outlet RBC reported that the director-general of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said that the BRICS Business Council supported the idea of creating a single payment system for settlements between the member countries at the 11th annual BRICS Summit in…

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