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Despite Rumors, Chinese Officials Stopped Criticizing Cryptocurrency at Annual Consumer Protection Event
This Thursday, at a congressional hearing on the financing of terrorism, it was announced that Bitcoin is losing popularity among Internet criminals.
At a meeting with lawmakers this week, Taiwan's new central bank governor, Yang Chin-Long, was asked whether Taiwan's central bank, like some national banks in other countries, plans to issue its own cryptocurrency and what the bank's cryptocurrency policy will be in the near future.
Although the cryptocurrency industry is maturing and taking the necessary steps to integrate with the traditional banking and financial system, it is still in the “Wild West” phase. Due to the lack of regulation and consumer protection in the cryptocurrency markets, there is still ample opportunity for fraudulent and manipulative schemes such as pump and dump.
It is planned to assign to the Ministry of Communications and Information the right “to exercise control over the activities of crypto platform operators and cryptocurrency exchange operators.”
Cryptocurrency prices are experiencing bearish pressure from fundamental events
In the short term, there are chances that prices could recover slightly. However, we cannot ignore the possibility of further collapse.
A consortium consisting of AB InBev, Accenture, APL, Kuehne + Nagel and the European Customs Organization has successfully tested a new application based on blockchain technology. This solution, according to the companies, will eliminate paper accompanying documents, saving transport and logistics companies hundreds of millions of dollars per year.
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