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#CryptoCorner: Iran Details National #Cryptocurrency, Chinese Companies Join #Crypto Crackdown, India’s Central Bank Creates #Blockchain Unit and North Korea to Host Blockchain Conference

Stocks discussed: (OTC:$TCEHY) (NYSE: $BABA) (NasdaqGS: $BIDU)

August 27th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH) and Genesis Exchange and Wallet App

 

Point Roberts, WA and Delta, BC - August 27, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

Listen to today's Crypto Corner Podcast:

http://www.investorideas.com/Audio/Podcasts/2018/082718-CryptoMarket.mp3

#CryptoCorner: Iran Details National #Cryptocurrency, Chinese Companies Join #Crypto Crackdown, India's Central Bank Creates #Blockchain Unit and North Korea to Host Blockchain Conference

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Crypto Corner

Weekend Market Growth, Iran Details National Cryptocurrency, Chinese Companies Join Crypto Crackdown, India’s Central Bank Creates Blockchain Unit and North Korea to Host Blockchain Conference

Stocks discussed: (OTC:TCEHY) (NYSE:BABA) (NasdaqGS:BIDU)

Over the weekend the crypto market saw some very modest growth in the wake of the U.S. Securities and Exchange Commission's (SEC) decision to review their rejection of nine exchange-traded funds last week. According to data from CoinMarketCap, the total market capitalization at press time is $218 billion USD, up about $8 billion USD from Friday's Crypto Corner. Bitcoin (BTC) is trading at about $6750 USD, $220 USD higher than at the weekend's outset.

The Islamic Republic of Iran has revealed details of its national cryptocurrency, according to a report from IBENA. The digital currency is designed and developed by an affiliate body of Iran's central bank, the Informatics Services Corporations (ISC) and is based on Hyper-ledger Fabric Platform technology. The cryptocurrency cannot be mined, the blockchain is private and the volume of issue is decided by the central bank.

As the Chinese state cracks down on the crypto space, many of the country's biggest companies are following suit. The South China Morning Post reports that Tencent (OTC:TCEHY), Alibaba (NYSE:BABA) and Baidu (NasdaqGS:BIDU) have all taken measures to shut down activities involving crypto trading. From the article:

Tencent said in a statement that the company will ban cryptocurrency trading on its social app WeChat through measures including real-time monitoring of daily transactions and block suspicious transactions when necessary.

Similarly, Alibaba-controlled Ant Financial said that it will restrict or ban accounts on its internet-payment platform Alipay when they are found to involve cryptocurrency trades.

A report in the Economic Times indicates that India's central bank, the Reserve Bank of India (RBI), has created a unit devoted to the study of crypto, blockchain and artificial intelligence. In addition to research, the new body may eventually be involved in developing regulation and overseeing new technologies in the space. A source familiar with RBI's plans told the Economic Times:

"As a regulator, the RBI also has to explore new emerging areas to check what can be adopted and what cannot. A central bank has to be on top to create regulations. This new unit is on an experimental basis and will evolve as time passes."

The Straits Times reports that North Korea will host an international blockchain conference over two days on October 1 and 2. The news, which would perhaps have been unfathomable a year ago, was first reported on Radio Free Asia on August 25. The conference seeks to bring together experts from around the world who will meet up with North Korean business leaders after the two-day event.

Sam Mowers, Investorideas

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Crypto Corner Sponsors:

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