Category: Cryptocurrency News

China’s central bank is “close” to launching its own “cryptocurrency.” Will this historic moment pump bitcoin – or pummel it? | Source: REUTERS / Dado Ruvic / Illustration China’s long-fabled “cryptocurrency” launch is finally on the horizon. According to Bloomberg, People’s Bank of China (PBoC) payments department deputy director Mu Changchun confirmed at the China Finance 40 Forum that the country’s cryptocurrency is nearing its release following a year of research and development. Given Beijing’s history of antagonism toward decentralized Read more …

The United Kingdom pension and welfare agency has identified blockchain and distributed ledger technology (DLT) as technologies that could disrupt the payments industry. In an Aug. 9 blog post, Richard Laycock, the deputy director of digital payments and banking systems at the Department of Work and Pensions (DWP) — an agency that manages the U.K.’s welfare and pension policies — said that the DWP is looking to transform its payments infrastructure. In a bid to make its payment system “efficient, Read more …

CoinDesk will be visiting Buenos Aires this week and we’d love to meet some of our readers for an informal gathering on Friday, August 16 at 6pm. We’re tentatively holding the event at Bierlife San Telmo at Humberto Primo 670. Because this isn’t sponsored – we simply want to meet you guys – we’re happy to pick up a few beers and a little food for the group but it won’t be an open bar. We are also open to suggestions Read more …

The Takeaway: According to a new report from Electric Capital, open-source crypto projects have lost developers, but thanks to the industry’s most committed technologists, total activity has stayed relatively constant since the late-2017 boom. Lower-market-cap crypto projects have lost the most developers, while promising sectors like decentralized finance and infrastructure projects have been gaining them. Throughout 2019, roughly 2,450 developers have pushed code on 10 or more days per month. The total population of these highly committed developers is up Read more …

Bitcoin is once again on the brink of hitting the crucial psychological $15,000 level for the first time in nearly two years, according to the CEO of financial consultancy giant DeVere Group. He said the top-ranking cryptocurrency is gradually evolving as a digital form of gold, according to The Independent. “The world’s largest cryptocurrency, Bitcoin, jumped 10% as global stocks were rocked by the devaluation of China’s yuan as the trade war with the US intensifies. This is not a Read more …

The Dow struggled toward a more than 200 point loss as bears greedily gorged on fears over Hong Kong, Argentina, and even Jeffery Epstein. | Source: AP Photo / Richard Drew The Dow Jones continued to expose its vulnerability on Monday, as the index traded down 267 points (0.85%) to 26,019. Most of the damage was done at the opening bell, with protests in Hong Kong, a shocking vote in Argentina, and Jeffrey Epstein fallout adding to a potent soup Read more …

A bitcoin-based drug gang landed a cumulative 20 plus years in prison following a UK police bust. Colin McCabe, Toby Woods, and Robert Price sold over 1 million pounds worth of Class A drugs including cocaine, ketamine, and cannabis. The trio sold their products on the dark web and shipped as far as Australia, according to an August 9 BBC report. The FBI first tipped off UK police of the self-proclaimed ‘Project4’ drug ring.  As the ringleader, McCabe was sentenced Read more …

A blockchain-based fine wine investment trading platform has selected Big Four auditing firm EY to provide technology services as its development continues. WiV Technology enables clients to trade bottles and cases of premium wine, with the origin, quality and value of assets certified on a constantly updated blockchain. In a news release on Aug. 12, EY said that wine will be tokenized through the use of non-fungible ERC-721 tokens on the platform. Saving cost and time Smart contracts are used to Read more …

This article was originally published by 8btc and written by Lylian Teng. China is about to roll out its central bank digital currency (CBDC), which features a two-layer operation mechanism, with China’s central bank running the top layer and business institutions running the second layer, said Mu Changchun, deputy chief at the Payment and Settlement Division of the People’s Bank of China (PBoC). China’s central bank initiated a study on digital currency and its central bank-backed digital currency in early Read more …

At a China Finance 40 Group meeting, Mu Changchung, Deputy Director in the Payment and Settlement Division at the PBoC attended and delivered a speech in which plans to unveil a national cryptocurrency in China were revealed. According to analysts, the move could hurt Bitcoin (BTC) big time. The announcement comes as President Donald Trump’s trade war with China continues to rage. Researchers at People’s Bank of China have been working tirelessly since 2018 to develop a national cryptocurrency. Mu Read more …

An impersonator is attempting to scam followers of Bitcoin celebrity John McAfee via Medium using the fake cryptocurrency airdrop narrative. | Source: REUTERS / Alexandre Meneghini (i), Shutterstock (ii). Image Edited by CCN. An impersonator is attempting to scam followers of outspoken crypto celebrity John McAfee via Medium. The so-called “McAfee Crypto Extravaganza” promises mouth-watering 10x returns – if and only if – you deposit a small amount of Bitcoin or Ethereum in the attacker’s wallet first. CCN first alerted Read more …

A prominent government minister in Britain has proposed the idea of closing banking institutions in order to mitigate the impact of an unstructured exit from the European Union. Analysts call the proposal ineffective and another reason to support broader arguments for decentralization. Desperation Moves in Britain As a strategy to limit the potential financial chaos that could come as a result of a no-deal Brexit event, government minister Michael Gove has suggested closing British banks on November 1st, 2019. Mr. Read more …