News

weibo

Chinese social media platform Weibo reportedly has banned crypto-related accounts

China’s anti-cryptocurrency crackdown has reportedly spread to social media. Several popular Bitcoin (BTC) and crypto-related content creators on Weibo. China’s Twitter-like microblogging service with over 530 million monthly active users, has reportedly been suspended. At least a dozen crypto influencers on Weibo were unable to use their accounts on Saturday night. According to local reports. […]

South Korea

South Korea is taking steps to ban crypto exchanges from cross trading

The Financial Services Commission of South Korea has moved to prohibit cross-exchange trading on crypto exchanges in the country. The move is part of a slew of changes to the country’s Financial Transaction Information Reporting and Use Act. Cross-trading is the practice of offsetting buy and sell orders for the same asset (at the same […]

Bitcoin Mining, mining

Square will invest $5 million into the Blockstream Bitcoin mining facility

Square Inc., a crypto-friendly mobile payments company. Has announced that it will invest $5 million in a solar-powered Bitcoin (BTC) mining facility for Blockstream Mining. Demonstrating Jack Dorsey’s continued support for blockchain infrastructure. Blockstream’s chief information officer, Chris Cook, announced the collaboration on Saturday. Outlining plans to build the open-source mining facility at one of […]

crypto, regulation, regulators

Another US regulator wants agencies to collab to regulate crypto

There are new signals that US regulators are aiming to rein in’ the crypto industry by establishing collaborations between agencies, indicating that the Joe Biden administration is full of regulators suspicious of bitcoin (BTC) and other cryptoassets. Given the growing concern that a lack of proper oversight could harm savers and investors. US financial authorities […]

DeFi

Thailand will target DeFi in its latest regulatory crackdown

Thailand’s financial regulators have turned their attention to decentralized finance, or DeFi, in their latest attempt to regulate the cryptocurrency industry. Thailand’s Securities and Exchange Commission (SEC) has announced that any activities related to DeFi may require a license from the financial regulator in the near future, according to a June 1 report from Bangkok […]

elon musk

Elon Musk expresses tepid support for crypto after the market’s collapse

Elon Musk expressed tepid support for cryptocurrencies in a Tweet, following a crippling market downturn that may be picking up steam this weekend. Tesla CEO Elon Musk responded to a Twitter user who asked what he thinks about “the peeps who are angry at you because of crypto.” Musk’s about-face last week regarding accepting Bitcoin […]

bitcoin, ethereum, btc

Bitcoin and Ethereum are recouping their losses, but the upsides are limited

Bitcoin’s price failed to break into the positive territory, and it continued to fall below USD 35,000. BTC made a low near USD 31,150 after testing the USD 31,000 zone. It is currently correcting higher (04:40 UTC), but bears may remain active near USD 38,000. Similarly, the majority of major altcoins continued to fall. ETH […]

Huobi

Huobi has reportedly ‘temporarily’ suspended futures trading in some countries

Huobi, a cryptocurrency exchange based in Seychelles, has reportedly suspended futures and leveraged trading for new customers in some countries, raising concerns about the regulatory scrutiny that digital assets are subject to. Huobi is limiting these services in a few jurisdictions, according to Bloomberg, but did not specify which countries would be affected. There was […]

crypto mining

COVID is forcing Chinese Internet cafes to become crypto mining hubs

As social distancing measures continue to bite in China, internet cafe owners are turning their businesses into crypto mining centers. According to The Time Weekly, via Sina, a large number of 24-hour internet cafes, designed primarily for PC gamers, shut down in 2020 as a result of the coronavirus pandemic. According to the media outlet, […]