🗞 Daily Crypto News, October, 30th 💰

vlemon (76)in #bitcoin • 4 years ago (edited)

China Announces New Regulatory Authority to Certify Digital Payments, Blockchain Products ;
Chinese State-Owned Media Try to Dampen Market’s Crypto Enthusiasm ;
CoinList Launching Crypto Exchange After Jack Dorsey Investment ;
Peter Schiff Blames ‘Whales’ After Bitcoin Gains 30% Against Gold ;
Russia: Government Official Expects to Mine 20% of the World’s Bitcoin ;
🗞 Daily Crypto News, October, 30th 💰
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🗞 China Announces New Regulatory Authority to Certify Digital Payments, Blockchain Products

China’s central bank, the People’s Bank of China, will certify 11 types of financial technology hardware and software that are widely used for digital payment and blockchain services with its new verification system called the Certification of Fintech Products.

The central bank released the first list of fintech products that could be used in both front-end and bank-end development for digital payment services, according to filings dated Oct. 26 from the bank.

The new regulatory system comes at a time when China is accelerating the development of new financial infrastructure, including a digital version of its currency and a push by President Xi Jinping to capitalize on blockchain technology.

🗞 Chinese State-Owned Media Try to Dampen Market’s Crypto Enthusiasm

Chinese state-owned media are attempting to quell the rush into crypto stocks following President Xi’s statement to “seize the opportunity” afforded by blockchain.

State-backed agencies are publishing material meant to encourage “rational” investments, amid this surge in speculation in blockchain and fintech firms, Reuters reported Tuesday.

On Monday, over 100 public fintech companies – tied or tangentially related to blockchain – soared in price at market opening as sentiment around the sector turned bullish, but perhaps too much so.

🗞 CoinList Launching Crypto Exchange After Jack Dorsey Investment

Bitcoin-friendly Twitter CEO Jack Dorsey has made a direct investment in a fledgling cryptocurrency company as part of its latest funding round.

CoinList to launch crypto exchange and wallet

Dorsey, who has become increasingly well known for his support of Bitcoin (BTC), injected an undisclosed amount in token sales startup CoinList, the Wall Street Journal reported on Oct. 30.

CoinList serves as a platform for other startups to raise capital via tools such as token sales, airdrops and hackathons.

🗞 Peter Schiff Blames ‘Whales’ After Bitcoin Gains 30% Against Gold

HODLer of a bygone era, Peter Schiff has argued that retail investors are getting squeezed by whales’ tactics on the cryptocurrency markets.

In a tweet posted on Oct. 29, Schiff — a diehard gold proponent — said:

“Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don't lose faith and cash out so that they can cash in!”

🗞Russia: Government Official Expects to Mine 20% of the World’s Bitcoin

A Bitcoin mining company owned by Russia’s internet ombudsman is planning to open a new facility and corner 20% of the international market.

Internet ombudsman targets BTC

As local financial news outlet RBC reported on Oct. 29, Russian Mining Company (RMC) plans to repurpose a metal factory in the country’s northern province of Karelia.

Closed due to US sanctions in 2018, the ex-Rusal facility could soon host a Bitcoin (BTC) mining farm so large it could account for one-fifth of global output.