China
Stacks Surges After NFT Push, Samsung Next Invests in Sky Mavis
Stacks surges following push into bitcoin non-fungible token (NFT) market. Samsung Next invests US$152 million in Sky Mavis despite Korean NFT gaming ban. China crypto mining clampdown continues to bite. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”
China Seeking Judicial Authority to Convict and Sentence Crypto Activities: Report
Judicial interpretations are likely to be issued in the future.
Who Bought $1.6B in Bitcoin Wednesday, and Why?
It’s an eerie coincidence that a trade of this size happened on exchanges with ties to Chinese customers during a week beset by that country’s capital market woes.
Chinese Agency Reinstates Goal to Phase Out Crypto Mining Industry
The move comes almost two years after the agency quietly removed crypto mining from the list of industries to be eliminated.
Bitcoin Price Surges to 5-Month High, What’s Driving Bitcoin’s Rally?
Bitcoin’s price has skyrocketed to a 5-month high of over $54,000 as bullish sentiment returns, with the cryptocurrency already up 25% this month. CoinDesk’s Galen Moore discusses insights into the possible factors driving what he calls the “spot-market driven rally” and its potential connection to tether, China, crypto regulation, and ETFs.
SEC Chair Gary Gensler: A Ban on Crypto Would Be ‘Up to Congress’
Responding to whether the SEC had any plans to follow China’s lead in banning cryptocurrency in favor of a prospective central bank digital currency (CBDC), SEC Chair Gary Gensler said Tuesday, “No, that would be up to Congress,” suggesting the agency has no plans to ban crypto.
Bitcoin Futures Market Suggests Huobi a Loser in China Crackdown
Bitcoin’s move to $50,000 has revived bullish sentiment, lifting futures premiums on most major cryptocurrency exchanges, which are often seen as a gauge of speculative interest. Though on the Huobi exchange, historically skewed toward Chinese customers, the premium hasn’t budged, potentially due to its decision to suspend services to China-based clients.
The Great Migration of Crypto Mining Amid China’s Most Severe Crypto Ban
Reacting to the North American mining industry making big investments, Kevin Zhang, Vice President of Business Development at crypto mining advisor Foundry, discusses how China’s crackdowns on crypto mining and trading could contribute. He explains the potential impact of the country’s great bitcoin mining migration and where its miners are heading.
KuCoin Tells Users in China to Move Funds to ‘Other Platforms’ by Dec. 31
The crypto exchange said it wants to ensure the safety of their assets.
E-CNY Chat Wallet to Launch, Korean Illegal Crypto Transactions Surge
China giants team up to offer e-CNY wallet in a chat application. Korea sees a surge in the amount of virtual assets used in illegal foreign transactions. DeFi protocol Compound’s technical woes continue. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”
