CHINA REPRIEVE: The China National Development and Reform Commission removed cryptocurrency mining from a list of industries to eliminate or restructure. Now no description related to virtual currency or bitcoin mining can be found in the document. Full story
TROLLS FOREVER? 8chan, the anarchic internet forum that disappeared in August, came back online this weekend as 8kun. Now, thanks to a decentralized web hosting network, it intends to stay online, no matter who its content offends. CoinDesk spoke exclusively to several coders behind the new project. Full story
OVERSIGHT VOTE: The U.S. Congress will vote on a bill redefining the Commodity Futures Trading Commission’s (CFTC) authority over the cryptocurrency derivatives markets. A provision in the 2019 CFTC Reauthorization Act clarifies how the regulator would collect information on digital commodities contracts and commodity swaps. If passed, the bill would be the first to place Congress-mandated, digital commodity-specific requirements on the regulator. Full story
BLOCKCHAIN COVER: North Korea has been using a Hong Kong-based blockchain company to launder money, according to a quarterly report from the UN Security Council’s Sanctions Committee. North Korea set up a shipping and logistics firm called Marine China, which runs on a blockchain platform, to avoid international sanctions by laundering stolen cryptocurrency into cash. Full story
CRYPTO ADVISOR: Ukraine’s Ministry of Digital Transformation has signed a memorandum of understanding with crypto exchange Binance to prepare new rules for cryptocurrencies as well as to digitize the country’s finances. Full story
STUCK AGAIN? Bitcoin was down 0.5% to $9,308 as of mid-day New York time, remaining in the past two weeks’ range of $9,100 and $9,600. Analysts said the 50-day moving average of the cryptocurrency’s price was poised to climb above its 100-day moving average, potentially forming what technical traders describe as a “golden cross” — a bullish signal that has preceded prior rallies.
PAYMENTS RISING: Cryptocurrency-based commerce, long feared dead, is on the rise again . According to data from blockchain research firm Chainalysis, cited in a Bloomberg report, the amount of cryptocurrency sent to 16 payment providers including BitPay rose by 65 percent from January to July. Kim Grauer, senior economist at Chainalysis, commented: “It suggests there’s more overall trust in crypto.”
8chan 2.0