China Vows ‘Immediate Disposal’ of Crypto Exchanges As Bitcoin Plummets

China continues its crackdown on crypto exchanges. Binance and Bithumb raid rumors cause widespread FUD. Will China’s U-turn on crypto impact the market? The Peoples Bank of China (PBOC) has reiterated its position on crypto trading, vowing the immediate disposal of cryptocurrency exchanges. For weeks China’s strict attitude towards cryptocurrencies has seemingly morphed into something less stringent. Blockchain technology has been championed within the country, and a lighter touch was implemented in regards to bitcoin mining. China’s State Media Just Headlined Bitcoin to 1.4 Billion People https://t.co/xBuQuLPd70 — CCN Markets…

Shenzhen Identifies 39 Crypto Exchanges Defying Trading Ban

Cryptocurrency exchanges operating illegally in one city in China will face the wrath of a joint government effort to oust them, reports claim. On Nov. 22, authorities in Shenzhen have identified a total of 39 exchanges falling foul of China’s cryptocurrency trading ban, according to local news outlet Sanyan Finance.  PBoC highlights Bitcoin and Ethereum in probe The operation reportedly included participation from China’s central bank, the People’s Bank of China (PBoC), the Economic Investigation Bureau of the Municipal Public Security Bureau and the Municipal Communications Administration.  It remains unknown…

Coinbase Custody Extends Crypto Staking to Global Investors

The institutional asset custody arm of United States-based crypto exchange Coinbase has announced it is transitioning to an internationally-based staking service as of Nov. 21. In rolling out its staking services to a global investor base, Coinbase Custody appears to be leveraging its brand recognition to promote staking as a key emergent investment strategy for the blockchain and cryptocurrency space.  The announcement states the custodian intends to offer all of its global clients “appropriate access to crypto first features like staking.” Coinbase Custody has been offering an institution-grade staking service…

Crypto Market & Bitcoin Bloodbath Not Over Yet: LTC, BNB, BCH, TRX Analysis

The total crypto market cap declined heavily and tested the $200.0B support (yesterday’s target). Bitcoin price is down more than 6% and it is approaching the long awaited $7,400 bearish target. Binance coin (BNB) price is down around 5% and it is now trading well below $17.50. Litecoin (LTC) price is under a lot of pressure and struggling to hold the $50.00 support area. BCH price is extending losses and it is trading near the $220 support area. Tron (TRX) price is down and out, with a major support near…

Green Policy and Crypto Energy Consumption in the EU

Society is now witnessing the implementation of digital currencies, AI and blockchain technology worldwide. These new digital technologies require a high consumption of electricity, currently produced predominantly using coal and fossil fuels that adversely impact the environment. A global shift toward green energy will require the removal of the existing regulatory barriers on technology, infrastructure, finance and tax policy. In this series, my articles evaluate the tax, digital technology and solar policies (including space power satellites) of the countries that emit the highest volumes of carbon dioxide. Proving the heliocentric…

Trump Secretly Met with 2 Crypto Heavyweights

Facebook CEO Mark Zuckerberg and board member Peter Thiel met secretly with President Trump in October. The purpose of the meeting – and why it wasn’t disclosed by the White House – remains unknown. After Facebook revealed the meeting had taken place, Democrats dragged Zuckerberg on Twitter. President Donald Trump invited Facebook CEO Mark Zuckerberg and board member Peter Thiel to a White House dinner in October, but didn’t disclose the meeting to the public. Facebook told NBC News about the secret meeting on Wednesday. The dinner took place at…

Markets Crash After Reports That Binance’s Shanghai Office Closed in Crypto Crackdown

Chinese authorities have reportedly raided and shut down the Shanghai offices of leading cryptocurrency exchange Binance.  Citing unnamed local sources, The Block says that local police have shut down Binance’s offices after raiding the premises. Between 50–100 of the exchange’s employees reportedly worked out of the Shanghai location. Binance has not responded to Cointelegraph’s requests for comment as of press time.  Closure follows crackdown  The purported raid follows a crackdown on cryptocurrency-related businesses and activities in the country.  Recently, financial authorities in China issued a notice to the public, directing…