Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia

Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises. Terms of notice As local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province. The organizations named were…

Continue Reading



Report: Libra Stablecoin Tied to Major Currencies, Maybe Not Yuan

Social media giant Facebook, which is currently trying to get regulatory approval for its Libra stablecoin project, reportedly shared details regarding the project’s proposed backing reserves. According to a report by Bloomberg on Sept. 9, Facebook told United States senators about the backing reserves for the stablecoin — a type of cryptocurrency valued by a…

Continue Reading



China’s Central Bank Digital Currency Undergoes “Restricted Access Test”

This article was originally published by 8btc and written by Vincent He. A dedicated team from the People’s Bank of China’s (PBoC) Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters, according to a report from September 5, 2019. China’s central bank digital currency…

Continue Reading



Tether Plans to Mint Digital Yuan and Commodity Coins, Says Bitfinex Shareholder

Tether Holdings, the firm that issues tether (USDT), has plans to launch an offshore Chinese yuan stablecoin called CNHT. Tether’s digital dollar presence within the crypto economy has been massive in recent months, seeing significant demand from China. Bitfinex shareholder Zhao Dong has explained in a recent interview that Tether is also preparing to launch…

Continue Reading



The Push to Kill Cash – Australia’s Proposed Ban Shows It’s Not Conspiracy Theory

The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash transaction…

Continue Reading