Chinese authorities are now going hammer and tongs to decimate the crypto mining industry in the country. As a result, some big players are now looking to make Hong Kong their base of operations.
China has proposed adding cryptocurrency mining to the country’s latest “Negative List for Market Access.” This will make cryptocurrency mining an industry that is off-limits to investors, another move by the Chinese government to clamp down on crypto-related activities.
On the back of the incredible crypto market recovery and the boom in NFT markets, the DeFi market has grown 18% in October.
Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country.
Earlier this week, Bitcoin broke through the psychologically important mark of $50,000 for the first time in a month, causing many investors to turn their eyes to the top cryptocurrency again. The resurgence of interest in bitcoin recently has resulted in higher trading volumes, combined with mega whale moves.
Digital asset platform Bakkt has announced a partnership with Google “to introduce digital assets to millions of consumers.” With the partnership, Bakkt says consumers will benefit from the “expanded reach and access” to cryptocurrencies.
A popular crypto strategist and trader says six mid-to-large cap altcoins will likely shine brighter than Bitcoin (BTC) in the coming months.
The pseudonymous crypto analyst known in the industry as Capo tells his 173,000 Twitter followers that he expects big moves from the smart contract platform Cardano (ADA).