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China- The Chinese government and the People’s Bank of China has over the course of the past months maintained stiff regulations on Bitcoin and cryptocurrency related products; especially ICO’s. However in a much predicted turn of events as characteristic of the Asian big wig; the country’s high court (The Court of International Arbitration) has ruled in favour of Bitcoin and cryptocurrencies. This verdict by the Chinese court, was necessitated by a case brought to its attention,…

Alibaba Group Chairman and CEO of China’s $150 billion financial conglomerate- Ant Financial; Jack Ma has said in a recent speech that he pays special attention to Bitcoin and Blockchain technology, and the potential of establishing a cashless society. Despite China’s tight regulations on blockchain and cryptocurrencies, interest of major industry stakeholders in the crypto industry still remains high. The CEO remarked that he is still studying the fundamental value of Bitcoin and other major cryptocurrencies as…

In the wake of the Chinese government’s all out ban and strict legislation on cryptocurrency exchanges, trading and Initial Coin Offerings (ICOs), investors as well as users look to have found a bypass over these barriers. The ban which extended to website blocks, ban on crypto promotional activities and other restrictions had surprised many especially as the government has continued to urge investors to utilize Distributed Ledger Technology(DLT/Blockchain) in research and development. That said, the…

Blockchain evidence will now be legally viable in courts in China. As part of recent changes, using evidence from a Blockchain and using the ledger to help verify facts and claims, will be accepted. This comes as internet courts were also established recently to help settle claims of a digital nature. Internet courts are the latest development in the legal landscape as China attempts to reform the current landscape to accommodate for the ever expanding…

Baidu Tieba, the forums business of Chinese search giant Baidu, has begun clamping down on crypto related material being hosted on its forums. Attempting to search terms like digital currency prompt the following error message : “This forum is temporarily closed due to relevant laws, regulations, and policies.” Baidu Tieba is currently one of the biggest forum communities in China. Resembling the likes of Reddit across the globe, Baidu Tieba has allowed well over 300…

Chinese authorities have raided one of the largest gambling rings in the country confiscating well over $1.5 million. In addition to the arrest of well over 500 individuals, authorities also tracked down and confiscated a further $750000 worth of rembini in company bank accounts. The FIFA world cup final may be just around the corner, but the enjoyment for well over 330000 came from the opportunities to profit from gambling on these high stakes games.…

98 suspects have been charged by the Chinese authorities amid involvement in the OneCoin Ponzi scheme. The scheme has left hundreds of thousands stuck, with criminals hauling well over $2.3 billion in china alone. As far as Ponzi schemes go many have not yet exceed the scale of the MMM scheme. While MMM may have been big in African countries having duped millions of investors of billions of dollars, OneCoin has emerged as the latest…

Iceland authority’s are curious about the origins of well over 600 crypto miners which were discovered in raids in china. In Tianjin, police recovered the miners along with hundreds of power supplies, motherboards and even CPU’s as the covert operations were uncovered amid huge electricity consumption. Bitcoin mining in itself is a energy dependent process, but the scale of operations in Tianjin meant the power draw was on a level not unseen recently. As the…

Bitcoin mining in Iceland has overtaken residential energy needs as power usage tops 800 Gigawatt hours. This pales in comparison to residential power usage which barely exceeds 700 Gigawatts hours despite over 300 000 residents making use of energy around the country. Iceland has become the home of bitcoin mining considering its climate and cheap energy allow for maximum profits for operators. Due to the energy intensive process, the hardware used to mine crypto can…

CoinCheck is one of china’s biggest exchanges processing billions in transactions on a daily basis. However, it was recently announced that the exchanges NEM hotwallet had been emptied in a recent hack. Worth a excess of $530 Million, the hack is one of the biggest in recent memory, is set to leave thousands of Customers and investors out of pocket. With no new information being revealed to the public by the exchange, details on the…