Thailand’s Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam

Thailand’s Police Arrested 24 Chinese Citizens Over Bitcoin Call Center Scam

According to local news outlets in Thailand, 24 Chinese have been arrested in the country under the accusation of running a crypto investment scam. The authorities conducted the raid in a call center where the Chinese nationals were allegedly conducting a Bitcoin(BTC)trade con scheme. One of the news outlets who reported the events of the arrest, Chiang Rai Times, further detailed that the alleged scam had been operational since March of this year. Currently, the…

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Outrageous Predictions: New Asian Virtual Currency Will Counter Dollar’s Dominance

Outrageous Predictions: New Asian Virtual Currency Will Counter Dollar’s Dominance

According to the new release of ‘Outrageous Predictions’ by the banking fintech company Saxo Group, The United States dollar’s long-lived reign as the main reserve currency might soon meet its end, especially as China has started working on the creation of a new digital currency that is driven by blockchain technology. The prediction alleges that after its long history of funding itself in the US dollar, China has been a main constituent for the staggering…

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Crypto Exchange IDAX Suspends Operations as CEO Goes Missing

Crypto Exchange IDAX Suspends Operations as CEO Goes Missing

The Mongolia-based crypto exchange IDAX has updated its users about an odd situation regarding its missing CEO and has announced it restricts access to its cold wallet. The cryptocurrency exchange IDAX released an “urgent notice” on Friday, November 29th. The notice states that the company’s CEO has been missing since November 24th; because of this, the users of the exchange’s cold wallet would face limited to no access to their digital wallets which store all…

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Five Chinese Crypto Exchanges Shut Down Following Government’s Warning

Five Chinese Crypto Exchanges Shut Down Following Government’s Warning

Chinese authorities have warned local cryptocurrency firms about virtual currency trading, and this has now caused at least five crypto exchanges to block their operations and for the course of this month will not provide services for users in the country. President Xi Jinping, who had previously proclaimed his support for the development of blockchain technology in the country, causing confusion within the citizens as China, is now increasing the pressure on the digital currency…

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Senior Alibaba Executive: The Movie Industry Needs Blockchain to Grow

Senior Alibaba Executive: The Movie Industry Needs Blockchain to Grow

Blockchain technology has been famed as having a ton of potential. While that has been proven true for the financial world and even the art world, the Senior Vice President (VP) of Alibaba Pictures, Li Jie, strongly believes that the technology can be used to foster the growth of the movie industry as well, especially China’s movie industry. Speaking at the Forum on Chinese Film Investment and Development, Senior Vice President Li urged his audience…

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China Appears to Double Down on Pursuing Crypto Exchanges and Investors

China Appears to Double Down on Pursuing Crypto Exchanges and Investors

China has apparently decided to double down on its crackdown on cryptocurrency as the technology continues to gain more interest from the public. Risk alerts have been issued in major cities including Beijing, Shenzhen and Shanghai by the government about the illegal use of digital currency in activities such as fundraising, pyramid schemes and frauds. The People’s Bank of China (PBC) has released a statement, saying how the rise of blockchain and cryptocurrency has had…

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Harvard Simulation: Hostile Nation Obtains Huge Sums in Cryptocurrency

Harvard Simulation: Hostile Nation Obtains Huge Sums in Cryptocurrency

The Harvard Gazette reported a simulation at the university’s Kennedy School that was set up to explore the dangers of hostile nations receiving large sums in cryptocurrency in secret. In the exercise, a futuristic timeline was set for the year 2021 in which North Korea had just experimented with a test missile which was powerful enough to deliver nuclear warheads to the United States. An emergency crisis was created as Washington was surprised that the…

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Weibo’s Ban of Binance and TRON Accounts Questions China’s New Crypto Policy

Weibo’s Ban of Binance and TRON Accounts Questions China’s New Crypto Policy

Weibo, a Chinese microblogging social media platform, has banned accounts of Binance and TRON, two major crypto entities. The initial reason given for this blockage is “violation of laws and regulation” by the platforms. No further details are provided. Interestingly, the Weibo accounts of Binance CEO and TRON Foundation founder, Zhao Changpeng and Justin Sun respectively, are still working. Other cryptocurrency projects and crypto exchanges, which are either based in China or operate in China…

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China’s Military Newspaper Suggests Soldiers to be Rewarded in Cryptocurrency

China’s Military Newspaper Suggests Soldiers to be Rewarded in Cryptocurrency

Thanks to President Xi Jinping’s recent game-changing comments about blockchain, the official newspaper of the People’s Liberation Army (PLA), PLA Daily, appears to be poised to see military personnel paid and encouraged in cryptocurrencies as opposed to the Yuan. According to a pro-crypto write-up published by the PLA’s paper, the technology should not be exclusive to civilians. There are a ton of use cases that the technology can offer the military sector. The article opines:…

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BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

BRICS, a collaborative group with five members of major emerging nations – Brazil, Russia, India, China and South Africa – has proposed developing a digital currency for payment transactions between these countries. The CEO of Russian Direct Investment Fund (RIDF), Kirill Dmitriev, detailed the developing plan on Thursday at the BRICS forum. RIDF is a $10 billion wealth fund of the country created by the Russian government. The announcement was reported by RBC Group, a…

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