The Chinese government is long against cryptocurrency. Its ban of Bitcoin mining sent the industry for a spin earlier in the year. Now we are seeing another twist.
Bloomberg cited a tweet that was posted on the PBOC account.
>The People’s Bank of China (PBOC) announcement posted on their website today, but originally issued on September 15, seems to be a restatement of Chinese officials’ ongoing stance on the digital asset class. It states that “all crypto-related transactions, including services provided by offshore exchanges to domestic residents, are illicit financial activities,” according to Bloomberg.
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Axie Infinity Has Sold $2 Billion Worth of Ethereum NFTs. Here's What’s Next
This is one of the most successful blockchain games. The value generated over the last few months is astonishing. From the looks of it, this might just be the start.
The company behind the game, Sky Mavis, is planning on offering gameplay upgrades, expanded play-to-earn, and free starter monsters for people to try out.
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Kentucky Sends Cease and Desist Order to Crypto Lending Platform Celsius Over Interest-Bearing Accounts
States all over the United States have been going after Celsius of late. Kentucky is now getting involved.
After New Jersey, Texas and Alabama sent the company cease and desist letters, Kentucky is taking the same approach. At the core is the fact the lending platform is offering interest bearing accounts. This is not approved within those states.
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FTX will begin to move key operations to Bahamas as part of HQ shift
When in doubt, move.
This is what FTX is doing. It is moving a key part of its operations from Hong Kong to the Bahamas. At the heart of this move is the fact of uncertainty regarding the Chinese government While there is favorable status in Hong Kong right now, the company simply cannot take the chance.
It will still have operations in Hong Kong yet most will be headquartered in the Bahamas.
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