US bitcoin exchange Coinbase launching Index Fund

The US-based bitcoin and crypto exchange Coinbase today announced the launching of the Coinbase Index Fund. The aim is to give investors exposure to all digital assets listed on Coinbase’s exchange, GDAX, weighted by market capitalization. If a new asset is listed on the exchange, it will be automatically added to the fund.

At the present time, investing in the Coinbase Index Fund is only available to US accredited investors. Coinbase said they are working on launching more funds which are available to all investors and cover a broader range of digital assets.

Those interested can invest using USD, BTC, ETH, BCH or LTC. The minimum investment size $10,000, and there will be a 2% annual management fee with no additional performance fee.

Coinbase Index Construction and Methodology

  • The constituents of Coinbase Index are all the assets listed on GDAX. The criteria for assets to be listed on GDAX can be found in the GDAX Digital Asset Framework.
  • The index level is calculated by dividing the currently combined USD market capitalization of all constituent assets by the market capitalization as at January 1, 2015, the starting date for the Index.
  • Coinbase Index is reconstituted each time that a new asset is listed on GDAX.

Data Sources

  • Coinbase Index is calculated based on the latest price data from GDAX and the latest total supply of each asset on its blockchain.

Review and Oversight

  • The Coinbase Index Committee meets once per quarter and is responsible for reviewing the accuracy and availability of data sources, reviewing calculations of the index level for anomalies and determining whether any changes to the index construction and methodology are required.

Cybersecurity marketplace PolySwarm halfway to ICO hard cap

Organizations and individuals go to great lengths to make sure that their data is protected. In the world we live in, installing an antivirus program on your computer or device is a necessity. However, you realize that conventional anti-virus software may not really offer adequate solutions when it comes to keeping out infections.

In 2017, the WannaCry ransomware infection spread like wildfire and hit computers across the world. The target computers were those that were using an older version of MS Windows operating systems. These computers were attacked and their data encrypted. The attack exploited vulnerabilities in older versions of these systems.

To get access to your data, you had to pay a ransom in bitcoin.

Over 200,000 computers in more than 100 countries across the world were affected by the attack. Hospitals, universities, Government agencies and huge Telco operators were not spared in this cruel attack. Experts estimate that over USD 4 billion was lost during these attacks. The impact that this had on the lives of people cannot even be quantified.

This shows that there is a deeper problem in the current model we use for cybersecurity. The current playground is murky and uncoordinated. It is a ground where few corporate entities dominate and whose products are basically the same in one way or another. There is very little differentiation. Also, these corporate entities do not put into perspective the changing dynamics of information technology.

What this basically means is that security that may have worked well for a particular device last year, may not be effective for a different device this year. Interoperability is also foreign to them. Therefore, you only have to install one antivirus software at any one time on your device. You can’t install two or more to boost security. In this day and age, this is unfortunate. Security professionals are also unequally distributed across the world. In some countries, there is a shortage of talent while in others there might be an abundance of skill while at the same time the said countries are plagued by limited job opportunities.

All these factors create loopholes for cybercriminals to flourish. Pundits estimate that with the current situation as it is, more than 70% of attacks can’t be detected by conventional anti-virus software. As if this is not scary enough, it is expected that the damages caused by cyber-attacks should double within the next three years.

This is where PolySwarm comes in. This platform offers a paradigm shift in the way cybersecurity is handled. It ceases to be a viable alternative and becomes a necessity that ought to be embraced in the face of daily attacks from malicious cybercriminals. By leveraging on blockchain technology, the platform provides access to a global community of cybersecurity experts who converge together and collectively detect and prevent cyber threats. By coming together and harnessing their collective skill sets, attacks will be targeted in a more accurate manner and the costs will definitely be much lower. The security experts are then compensated in tokens for providing security to the network.

The platform allows for interoperability, thus ensuring that the end user gets comprehensive coverage. No wonder the market is enthusiastic about this platform. Just a few days after launching their token sale, the platform managed to beat its soft cap target and raise half the funds needed to achieve its hard cap target. The voracity with which the community has snapped up these tokens points to the fact that indeed this is a remedy that was long overdue.

A few days after its launch, the platform has raised over USD 23 million against a hard cap target of USD 50 million. The token sale is still ongoing and will last until the 22nd of March 2018. Contributors who may want to be part of this revolution need to make a minimum contribution of USD 100 payable in ETH.

1 ETH is equivalent to 31,337 Nectar (NCT) ERC-20 tokens.

Cybersecurity marketplace PolySwarm halfway to ICO hard cap

eGifter launches new bitcoin gift card solution for merchants

eGifter, the eGifting company announced today the launch of its Bitcoin Storefront, a quick-to-market solution for retailers and merchants who want to make an immediate, low-cost entry into the emerging world of cryptocurrency without any risk of fraud or bitcoin price fluctuations.

eGifter was a pioneer in cryptocurrencies, having accepted bitcoin as a payment option since 2013 in the eGifter Marketplace, where eGifter sells almost 300 brands of digital gift cards directly to consumers. The Company has since established a loyal following of bitcoin customers who convert their bitcoin to gift cards for everything from groceries to gasoline, airline tickets to apparel and electronics to entertainment.

“Given our history and experience with bitcoin, this is a natural extension of our white-label eCommerce platform for retailer gift card programs,” said Tyler Roye, eGifter Co-founder & CEO. “With all the buzz around cryptocurrencies now, we have seen significant interest among retailers for such a solution.”

For the over 50 major national retailers who are already on the eGifter Platform, or for any of the major brands that have their gift cards in eGifter’s consumer Marketplace, a Bitcoin Storefront can be launched in as little as two weeks using existing processor or distributer integrations.

Powering bitcoin payments is eGifter partner, BitPay, the leading bitcoin payment processor. “eGifter has been a longtime BitPay merchant and a pioneer in accepting bitcoin in their industry. They’re now pioneering in the gift card space again by bringing bitcoin payments to this new venture for businesses,” said Rory Desmond, BitPay’s head of North American and Asia-Pacific business development. “eGifter’s BitPay-integrated platform will make it simple and seamless for eGifter’s brands to sell to bitcoin users around the world.”

Many retailers and merchants are curious about cryptocurrencies, especially bitcoin, but are not yet ready to make a significant development commitment to add bitcoin as a payment option. By using eGifter to add bitcoin as a payment option for gift cards, merchants can measure their customers’ interest in paying with bitcoin. “What makes this work so well is that our solution provides an instant exchange of bitcoin into dollars,” said Roye. “By using eGifter’s Bitcoin Storefront, retailers do not have to handle the bitcoin or risk being exposed to its price fluctuations.”

The solution is available for eGifter’s existing clients and any brand with a gift card program, whether it be physical or digital. eGifter’s Bitcoin Storefront is a turnkey hosted mobile and web solution. It can run in parallel with any other gift card sales system. eGifter can also provide its complete Gift Card Experience™ to power a brand’s entire online gift card sales program with traditional payment options as well as bitcoin.

A substantial benefit of eGifter’s solution is that bitcoin sales are not subject to chargebacks like credit card sales. “This is an important benefit, given that gift cards – especially digital gift cards – are a major target for fraudsters, a risk that can be difficult and costly to manage,” said Roye.

As with all eGifter services, Bitcoin Storefront is mobile-responsive and ADA compliant. The Company plans to announce its first launch partner in Q1-2018 and anticipates many brands will follow in the coming months.

Bithumb partners with South Korea’s largest accommodation app, Good Choice

South Korean cryptocurrency exchange Bithumb, the largest in the country, announced today it has formed a strategic partnership with South Korea’s largest accommodation app, Good Choice (여기어때), to make it possible to book accommodations and make payments with cryptocurrencies through Bithumb.

This is the first case in Korea’s domestic lodging industry to use cryptocurrencies…cryptocurrency transactions are to be made in 50,000 accommodations around the country. Bithumb says, “We are discussing with various companies to expand the use of cryptocurrencies.”

It’s the first case to that supports transactions with not just only one particular cryptocurrency but also various other cryptocurrencies. Depending on the business partnership, customers who book their accommodation with the app will be able to make payment with the cryptocurrencies through their Bithumb account.

As one of the most popular lodging applications in Korea, ‘Good Choice’ has 50,000 accommodations registered nationwide, including hotel chains. It boasts about their 2 million monthly users and over 2 million user reviews. In the future, it will also be easy to pay for a variety of accommodations in cryptocurrency, ranging from registered hotels, resorts, pensions, guest houses, and motels to camping, glamping, and Hanok.

According to coinmap.org, there are over 10,000 businesses that accept cryptocurrency. The biggest online travel site, Expedia accepts Bitcoins when making hotel reservations.  Japanese home appliance retailer, Big Camera supports bitcoin transactions in 59 of their offline stores.

This partnership reflects this worldwide trend in Korea. It is expected to help increase convenience as the cryptocurrency is used to book and pay for the accommodation for both Koreans and overseas travelers.

“Our partnership with the nation’s largest accommodation app has allowed Korea to join the global trend to see a greater use of cryptocurrency and we are continuously discussing with various companies for a greater use of a simple and safe payment tool, cryptocurrency in Korea, ” the Bithumb team said.

MIT-Founded Startup Raises $20 Million for Supply Chain Blockchain

Eximchain, a supply-chain focused blockchain startup founded in 2015, has raised $20 million from a group of investors.

Founded at the Massachusetts Institute of Technology’s media lab, the startup raised the funds to continue developing its own public blockchain – powered by private smart contracts – to provide different solutions for recording, transacting and distributing data for supply chain stakeholders.

The funding was led by FBG Capital, a major cryptocurrency hedge fund from China. Other participants included INBlockchain, a blockchain capital firm founded by Li Xiaolai (a Chinese cryptocurrency activist) and Hong Kong-based investment firm Kinetic Capital.

Eximchain said it’s now moving toward a token airdrop, which will see around 1.5 million ERC20-based EXC tokens distributed to ID-verified participants.

EXC, according to the company, can be further converted to native tokens on Eximchain’s own blockchain upon the launch of its main blockchain.

“After experimenting [with proofs of concept] on ethereum or private blockchains, the enterprise world is looking for technical solutions that can be deployed immediately to solve real supply chain problems”, said Hope Liu, co-founder and CEO of Eximchain, in a statement.

The funding round makes the firm the latest to join the increasingly popular trend of issuing airdrops – via which firms distribute tokens for free to interested parties, instead of holding token sales or initial coin offerings.

Freight containers image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Israel Bars Crypto Firms from Tel Aviv Stock Exchange Indices

Israel’s securities regulator has said that cryptocurrency-related firms may not be listed on the Tel Aviv Stock Exchange (TASE) indices.

According to an announcement from the Israel Securities Authority (ISA) on Wednesday, the watchdog said it will bar the entry of public companies who mainly hold, invest in or mine cryptocurrencies from the indices, citing high volatility as a risk for passive investors whose portfolios track the indices.

Crypto-asset firms can still be traded on the exchange itself, however.

The ISA said the the move comes after it had noted significant stock price swing upon announcements of public companies’ involvement in cryptocurrencies.

The authority said:

“In some cases, the companies’ reports (about cryptocurrency) led to a sharp rise in the share prices, even before they have real activities. The extreme volatility of trading in cryptocurrencies is also reflected in the trading in these companies, whose value rises and falls sharply, sometimes for no apparent reason.”

As such, the ISA indicated that the new rule is intended to ensure that passive investors will not be exposed to these public companies unless they actively choose to. The restriction will last for one year initially, subject to further examination at a later date.

The new policy also comes as a result of months-long consideration over possible measures to limit the effect of firms’ blockchain pivots on public stocks and stock investors. The topic first emerged in December of last year, when the authority’s chief proposed banning public companies on TASE from trading cryptocurrencies.

Elsewhere in the announcement, the ISA also noted that an interim examination report on initial coin offerings (ICOs) is expected to be published in coming days, following the establishment of a committee last August to provide recommendations for oversight of token-based fundraising activities.

Through a separate notice the same day, the ISA also warned the public on the risks of investing in ICOs, as they issue misleading or fraudulent promises of high investment returns. It further highlighted that ICOs “may be considered as a public offering of securities,” which, the agency stated, must be registered with Israel’s Securities Law.

TA index image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Bitcoin May See Relief Rally, But Bottom Still Elusive

Bitcoin (BTC) may see a corrective rally following losses this week, but it’s still too early to call a bottom, the technical charts indicate.

The cryptocurrency has spent a better part of the last 24 hours trading in a roughly sideways manner in the narrow range of $7,900-$8,400, according to CoinDesk’s Bitcoin Price Index (BPI). As of writing, the BPI is seen at $8,152. Meanwhile, the global average price, as calculated by CoinMarketCap, stands at $8,169 – up 0.15 percent in the last 24 hours.

The consolidation may have brought a little to the battered bulls and suggests a temporary low is in place at $7,676. Further, the shorter duration technical charts (prices as per Bitfinex) show potential for a relief rally.

1-hour chart

Bitcoin has created a bull flag pattern on the hourly chart – a continuation pattern – meaning an upside break to above $8,370 would signal a continuation of the rally from $7,665 (Wednesday’s low) and open the doors for $9,170 (target as per the measured height method).

The relative strength index (RSI) also shows a bull flag pattern, adding credence to the bullish setup on the price chart.

However, the 50-hour MA (moving average), 100-hour MA, and 200-hour MA are still all bear biased (sloping downwards), so the rally will likely be short-lived.

Further, on the way towards $9,170, BTC will face stiff resistance around $8,710 (bear flag support).

Daily chart

The daily chart also shows that the 5-day MA and 10-day MA are trending lower in favor of the bears. So, the primary trend is bearish.

That said, a close today (as per UTC) above the 10-day MA at $8,964, currently, would mark a positive follow-through to yesterday’s long-tailed doji candle, signaling a short-term bottom is in place at around $7,665.

View

  • A corrective rally to $9,000-$9,170 is likely as per the setup on the hourly chart.
  • A close (as per UTC) above the 10-day MA would signal the sell-off from the recent high of $11,700 has ended, although a sustained rally to $10,000 and above looks likely only after the 10-day MA has bottomed out.
  • In the larger scheme of things, only a close above $11,700 would invalidate the bearish set up on the weekly chart and signal a bearish-to-bullish trend change.
  • Bearish scenario: Repeated failure to hold above $8,342 (last Friday’s doji candle low) could yield a sell-off to $7,000. Note that bitcoin has already failed twice in the last 24 hours to keep gains above $8,342.

Markets image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Singapore Central Bank Touts Blockchain for Payments

The chief of the Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, has spoken of blockchain’s potential in international payments.

During a speech on Thursday at a financial industry event, MAS managing director Ravi Menon doubled down on his belief that one of the “strongest” use cases for crypto tokens is to facilitate cross-border settlements.

Menon said:

“This is the challenge that Singapore’s Project Ubin has set itself to solve: to use blockchain technology to enable entities across jurisdictions to make payments to one another.”

He continued to say that, following two “successful” proofs-of-concept, MAS has partnered with the Bank of Canada “to test and develop a cross-border solution using crypto tokens issued by the two central banks.”

The comments follow Menon’s earlier remarks that, while he thinks crypto tokens are not entitled to be called currencies given a lack of payment, storage and accounting features, he believes “we can never say never” that they will not become a currency in the future.

That said, he also raised concerns during the latest speech over the growing risks associated with the emerging fiscal technology, saying that MAS has been increasingly watching areas such as fundraising, money laundering and affects on financial stability.

In particular, on the investor-protection front, Menon reiterated MAS’s previously reported initial coin offering (ICO) guidance, cautioning that certain tokens could be regulated as securities.

He said:

“Investor protection is another immediate concern arising from the crypto mania. Where the crypto tokens represent ownership or a security interest over an issuer’s assets or any property, or a debt owed by the issuer, they may be regarded as securities under the Securities and Futures Act.”

Under this rule, initial coin offering issuers must meet securities rules before launching token sales. Further, secondary markets that facilitate trading of ICO tokens should also be registered and approved by the MAS, according to Menon.

And yet, the managing director also stated that MAS does not wish to stifle innovation around blockchain technology by introducing burdensome regulation, although he conceded that striking the right balance remains a challenge to the authority.

Singapore image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

So Long ICOs, Hello Airdrops: The Free Token Giveaway Craze Is Here

Imagine getting $1,000 just for joining a newsletter.

Well, that’s effectively what happened for those that subscribed to Onchain’s mailing list early on in the project’s lifecycle. The company, which is building a distributed network designed to connect real-world institutions, gave 1,000 of its “ONT” crypto tokens to people who signed up to receive its emails prior to a certain date.

Those crypto tokens were distributed earlier this month and are now trading for a little over $1 per coin, according to CoinMarketCap. As you may have noticed, there was no “sale” involved.

“Ontology just raised a private round and then didn’t need to do a [public] crowdsale, so they just airdropped to eager NEO hodlers,” Keld van Schreven, a partner at blockchain investment company Kryptonite1, told CoinDesk.

Van Schreven’s comment speaks to a broader trend among token issuers. More are raising the money they need in private initial coin offerings (ICOs) and then skipping the public sale for what’s being called an airdrop. Effectively, these are just token giveaways to broader interested community members

Justin Schmidt of Translunar VC told CoinDesk:

“As a non-accredited investor, it is proving to be very difficult to find public sales to participate in until the tokens are traded on an exchange.”

Whereas the idea around public sales was that the people who buy in are those that understand the platform’s value and will promote the token, airdrops look to accomplish a similar goal, yet expecting that if people hold tokens, they’ll be interested in seeing the network, and the token’s price, grow and promote the platform just the same.

An internet search for “airdrops” or “free tokens” yields lots of websites, subreddits and Telegram channels that people can follow to gather up crypto tokens. And there’s even a Pokemon Go imitator under development that would allow companies to distribute free tokens to people playing an augmented reality game.

But these airdrops might not only be about building a community, they likely also have something to do with an uncertain regulatory environment.

For instance, in the U.S., many ICO issuers and investors have become convinced that the Securities and Exchange Commission (SEC) will eventually declare that all crypto tokens are securities and as such, need to be registered under cumbersome laws.

But even outside the U.S., completing know-your-customer (KYC) and anti-money laundering (AML) compliance for public sales takes a substantial amount of work and time.

Speaking to token issuers stepping away from public sales, Minhui Chen, a partner at Global Blockchain Innovative Capital (GBIC) told CoinDesk, “Raising money from private sales is so easy.”

Tokens, away!

According to Althea Allen, ecosystem relations at payments startup OmiseGo, her company pioneered the airdrop concept on ethereum in August last year, after announcing it would airdrop its “OMG” tokens to every wallet that held more than 0.1 ETH.

OmiseGo decided to conduct an airdrop to raise awareness about the project, but Allen spoke to the broader benefits of the distribution model, saying, “The real value of ethereum projects doing airdrops to all ETH holders is that it’s a crypto economic mechanism designed to incentivize ethereum project communities to maintain alignment with the entire ethereum community.”

The OMG token’s price has since been volatile (many crypto tokens are), but it has trended up overall.

Yet because of the ease to airdrop, many, including van Schreven, think crypto wallets are starting to feel “like spam in email.”

Indeed, in China, many people refer to these offerings as “candy,” Chen said, continuing:

“Low-quality projects are taking advantage of airdrops to make a fake community.”

And Schmidt echoed that, saying, “Not having the choice to decline these airdrops can, in my opinion, cause some issues in the future.”

As such, many investors, who nonetheless support the larger phenomenon also believe the mechanism could be used more effectively.

Brayton Williams of Boost VC, a fund that favors crypto projects with a strong focus on community, thinks issuers could do a better job of targeting with airdrops. For example, he’d like to see issuers focus airdrops on people based on geography, demographics, etc. to cultivate the best market for the future platform.

Williams told CoinDesk:

“Airdrops combine the best of paid referral programs with stock options. Potential users get paid for joining or using the network and have the potential upside if the network increases in value.”

Some crypto companies are taking heed of this advice.

Swarm, a blockchain for tokenizing private equity, just announced a few airdrop promotions, two of which encourage referrals, although by far the largest token sale on the platform is one that just drops tokens to existing cryptocurrency holders.

And Earn.com (formerly 21.co) has offered a standalone product for startups to distribute tokens directly to its members since the end of January. Startups that want access to Earn.com members pay small amounts of bitcoin to get users to sign up. But many are willing to pay a fee since the company validates every member, linking a wallet to one distinct person.

“The unique thing that Earn.com offers really is the validation side of things,” Dave Bean, from Earn.com’s sales team, told CoinDesk.

He added that while many platforms that allow token issuers to airdrop might have a lot of email addresses, many individuals could be gaming the system by signing up multiple times with different addresses.

Firewall USA

That said, issuers in the U.S. are still skittish about doing airdrops to promote platforms.

Stream, a blockchain-based video streaming platform, has delayed its airdrop indefinitely because of concern that airdrops could also be in violation of securities law.

“We can’t be sure,” said Todd Kornfeldt, counsel at the law firm Pepper Hamilton LLP, pointing to SEC actions from 1999 which targeted companies giving away free traditional equity.

“Perhaps the SEC thought there was some kind of quid pro quo in giving those securities away and that resulted in a benefit to the issuer,” Kornfeldt said. “And that fact pattern is similar to the fact pattern of an airdrop.”

This will definitely affect token issuers since the U.S. is the largest market both for investment and technology users.

But until the regulatory environment in the U.S. becomes more clear, token issuers may experience far less hindrance in the rest of the world.

Although some aren’t letting the regulatory environment hold them back. For instance, Onchain isn’t done using airdrops to promote its platform.

“The next community reward opportunity will be for active participation in Ontology after the release of the mainnet in Q2 2018,” Daniel Assab, a spokesperson for the company, said. “It won’t be for anything like a newsletter subscription, but no further details for now.”

Still many advise against airdrops for now.

According to Chen, “We advise [token issuers]: Don’t do airdrops. Please do public sales.”

In his mind, public sales actually engender a more authentic community. In other words, it brings in people who understand the project well enough that they’re likely to actually hold some of the tokens they buy to use in the future, instead of just dumping them on price rises.

Schmidt tends to agree, but hedges saying:

“It’s very early to see how this trend will result, but I do believe you need the actual users to have access to the tokens.”

Balloons photo via Shutterstock.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Crypto Escapes Scrutiny at Annual China Investor Event

Cryptocurrencies were not brought up for criticism at an annual Chinese consumer protection event, despite rumors to the effect.

Multiple sources had shared rumors with CoinDesk in early March that major policy changes would be announced on Mar. 15 night during a national TV program to curb cryptocurrency activities in China, such as trading and disguised initial coin offerings (ICOs).

The annual show is hosted by China Central Television, the country’s official broadcast mouthpiece, in celebration of the World Consumer Rights Day, during which questionable company conducts are exposed for the sake of public safety.

It is further co-hosted by major Chinese government agencies including the Ministry of Industry and Information Technology, Ministry of Public Security, Supreme People’s Court and Supreme People’s Procuratorate.

The rumors had suggested that the program would expose initial coin offerings that still exist in China, some of which may operate so that certain people with access to ICOs would act as agents to invest on behalf of other Chinese investors.

“Every one was waiting to see what would happen during the night,” one source commented.

Indeed, the rumors appeared to have sparked uncertainty within the cryptocurrency community in China, which had already started circulating a leaked rehearsal list of the program prior to the event, in bid to spread an assurance that no discussion of ICOs was on the list.

In the event, the absence of cryptocurrency or ICO related topics promptly killed the talk of further crypto scrutiny for now, yet it still remains to be seen whether China will move to enforce further regulatory measures on cryptocurrency activities, following its existing oversight efforts.

As reported before, while China’s police force has been expanding its internet monitoring work to cover overseas cryptocurrency activities, regulators have also moved to reportedly block the domestic accounts of cryptocurrency exchanges on social media channels.

CCTV headquarters in Beijing via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.