Crypto Tidbits: Youtube’s Bitcoin Ban, Ethereum Co-Founder Sells Stash, China’s Digital Currency Nears

Another week, another round of Crypto Tidbits. The last week of December was quiet for the Bitcoin and broader digital asset market, with BTC gaining 2.6% over the past seven days, according to Coin360.com. Altcoins have posted similar slight gains, though assets like Bitcoin Cash, EOS, Litecoin, and VeChain have managed to outperform, seeing approximately 10% gains on the week. Due to it being the holiday season, the underlying industry was also extremely quiet, with there being few developments worthy of headlines. Regardless, there were still a few stories published over the past seven days that could have a larger impact on the cryptocurrency space. Related Reading: Crypto Tidbits: Bitcoin Returns to $7,200, Ripple Bags $200M Cheque, Tron CEO Donates to Greta Thunberg Bitcoin & Crypto Tidbits UN Secretary-General Calls for Blockchain Adoption: According to a recent report from Forbes, United Nations (UN) secretary-general António Guterres remarked in a recent statement that the multinational organization should push for the adoption of blockchain technology. “For the United Nations to deliver better on our mandate in the digital age, we need to embrace technologies like blockchain that can help accelerate the achievement of Sustainable Development Goals,” he was quoted as saying. This comes shortly after it was revealed that the UNICEF started to accept Bitcoin and other crypto assets. Bakkt Appoints New Execs Amidst Launch of Bitcoin Products: Due to her appointment to the U.S. Senate, Kelly Loeffler, the former chief executive of Bakkt and former executive of the Intercontinental Exchange, has been forced to abdicate her position leading the Bitcoin exchange upstart. Replacing her will be Mike Blandina, the now-former Chief Product Officer. Blandina hails from leadership roles at companies like PayPal and Google. And Adam White, who was one of Coinbase’s first employees, will become Bakkt’s President. China May Soon Launch Digital Currency, Crypto Chief Asserts: According to the South China Morning Post, which cited a report from a Shanghainese news outlet, Mu Changchun, head of the People’s Bank of China’s digital currency research institute, just unveiled a mass of information about the  “Digital Currency Electronic Payment” or “DC/EP” project. At an event Saturday, Mu was cited as saying that the digital currency will simply be “a digital form of the yuan,” meaning that there will be no open market for speculation and that the asset will not need to be backed by a basket of currencies. He added that the central bank’s next steps will be to launch the pilot projects of the asset. Beijing Doubles Down on Bitcoin Ban: Speaking of China and crypto-related subject matter, the Beijing Local Financial Supervision and Administration Bureau, the Business Management Department of the People’s Bank of China, the Beijing Banking and Insurance Regulatory Bureau, and the Beijing Securities Regulatory Bureau have requested for firms under its jurisdiction not to engage in Bitcoin- and crypto-related activities. Ethereum Application MetaMask Suspended By Google: The company behind MetaMask, an interface that allows Ethereum users to work with applications on the blockchain, recently revealed that its Android iterations were removed from the Google Play App Store, with Google claiming that the company was violating financial service policies. Youtube’s Crypto Debacle: In a very similar vein, reports revealed earlier this week that a number of top crypto Youtubers were having their videos taken down, with the Google-owned web platform citing the potential sale of “regulated goods and services” — a class that normally includes things like alcohol or drugs. A majority of cryptocurrency-centric Youtubers were hit, meaning their channels were either blocked from publishing videos temporarily or their monetization status was removed. Eventually, just after Christmas Day, Youtube responded, claiming it was all a mistake. Ethereum Co-Founder Believed to Have Sold Stash: According to a number of reports around crypto media, Ethereum co-founder Jeffrey Wilcke has purportedly sent  92,000 ETH ($11.5 million) to U.S. cryptocurrency exchange Kraken on Dec. 25. He announced his intentions to sell the cryptocurrency, citing the fact that he “needs money for [his] game.” Featured Image from Shutterstock The post appeared first on NewsBTC.

by Nick Chong on December 29, 2019 at 02:00AM