Chinese crypto miners reportedly off power line

Posted 14 November, 2018

Chinese miners in Xinjiang and Guizhou have suspended operations for the state tax and registration checks.

As reported local media, crypto mining companies in these provinces were disconnected from the power grid beginning from November 5. As a result, these measures caused  1 million production capacity loss per day during the inspection period.

The authorities and law enforcement bodies checked the tax reports, assets and other information, with a strong focus on crypto miners.

According to the news reports, the inspection has been completed by now. However, it is unknown whether crypto miners are reconnected to the power grid. During the checks mining companies reportedly had to sign a so-called guarantee book requiring higher standards of real-name registration.

Moreover, crypto miners will not provide services to the clients that will refuse to follow the requirements.

Speaking about Bitmain, the leading producer of crypto mining equipment, it is unclear about the impact of the recent measures on the company, especially given the recent launch fo 90,000 miners in Xinjiang on upcoming BCH hard fork.

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14 November, 2018 14:23

← Central banks should consider digital currency, IMF chief said

The International Monetary Fund thinks that central banks worldwide may consider digital currency issuing. During the Singapore Fintech Festival held this week, the head of IMF, Christine Lagarde said on Tuesday that the countries may think over digital currencies citing obvious benefits, including a higher level of transaction security. The state-backed digital currency is a quite real concept, with many banks considering this launch and China, Canada, Uruguay and Sweden are among them. As Christine Lagarde noted, they are open to new changes and this is exactly what the IMF requires now.

Central banks should consider digital currency, IMF chief said

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14 November, 2018 11:46

GoverMedia Plus Canada Corp expresses intent to acquire EXMO exchange →

Crypto exchange EXMO and Canada's GoverMedia Plus Canada Corp reportedly signed a letter of intent (LOI) under which the latter will be able to negotiate the acquisition of the trading platform within the 180-day period. If the parties eventually sign a sale-purchase contract, EXMO brand will be retained and the exchange will be listed on the Canadian Stock Exchange.

GoverMedia Plus Canada Corp expresses intent to acquire EXMO exchange
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