Top 7 Headlines of Last Week from Digital Asset Industry

[mirrasel]

Dear Forum Members,

Hope you all are fine. We are passing through a bear market. Some of us are worried and some of us are buying bitcoin as the price is low. But I do believe the market is somehow sentiment based. It's a big issue!

Every week I read different news portals to know and enrich the knowledge of this industry which helps me to understand the blockchain and crypto sentiment. Now, I'm thinking that I can share a summary of the news with all of you.

Every week, I will try to share the Top 7 headlines from my side. If this will help you a little, I will be happy.

Week:  18 November - 24 November 2019

1. Bitcoin plummets to a 6-month low on China crackdown

People’s Bank of China would tackle a resurgence of illegal activities around virtual
currencies, cautioning investors not to confuse crypto with blockchain. (Reuters)

2.The Federal Reserve is looking into developing a digital currency in the US

US central bankers have explored the possibility of developing a digital currency that would be directly available to businesses and households. (Business Insider)

3. Singapore Proposes Allowing Crypto Derivatives Trading on Approved Exchanges

The Monetary Authority of Singapore (MAS) may soon allow cryptocurrency-based
derivatives to be traded on regulated platforms. (Coindesk)

4. Binance Acquires Leading Indian Digital Asset Platform WazirX

The transaction was estimated at $5-10 million which is a significant move in the cryptocurrency ecosystem in India. (India Times)

5. $6.7 Million in Cryptocurrency Seized from New Zealand Digital Pirate

Police have seized from a Hamilton man following an investigation into alleged online
movie piracy in the United States.  (nzherald)

6. China’s ‘Silicon Valley’ Identifies 39 Cryptocurrency Companies As Illegal

The authorities are specifically targetting companies engaging in ‘pump-and-dump’ and pyramid schemes & responsible for defrauding everyday consumers. (Beincrypto)

7. Philippines and BCB Blockchain to Work Together on Smart Cities

The joint initiative intends to facilitate the development of local startups focused on the
creation of smart city projects and applications. (Cointelegraph)

If you have any suggestions, comment or discussion, Let's discuss it! Can you guess the overall sentiment of last week from the headlines? Is it Positive, Negative or Neutral? What is your opinion?

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Mir Rasel,
Digital Lead, Bitcurate ( A Predictive Digital Asset Analysis Startup)

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[Wintersoldier]

The number 6 is quite alarming for the Chinese government. In these past few days, blockchain technology in China is becoming eminent, but with particular news concerning Ilegal companies running cryptocurrencies might affect how their government will support crypto. In addition, the Philippines having smart cities through cooperation with blockchain company is not yet stated in local news, so I highly doubt it would be implemented.

[CryptoBry]

There are many big good news on the horizon but the market has been transfixed on the developments in China especially its crackdown on businesses that has something to do with cryptocurrency including the popular pyramiding schemes all over the county. The bearish mood right now is the reaction to this clear message from the Chinese government: Blockchain yes but Bitcoin no. I think that should have been clear right from the start but people are dreamers so we all fantasize that soon China can be changing its hard stance on cryptocurrency and then we are served with very cold water. And so Bitcoin even went lower than the level where it was during the time when China's President made a remark on the blockchain.

This industry must be desperate for real good news but instead of looking at China we should be looking elsewhere. We can never expect China to be the leader in the Bitcoin market and why should they when in fact they are even crafting their own cryptocurrency so why invite a big competition from Bitcoin? This just sounds so rationale. In 2017, China was a big force in the movement of Bitcoin and when the county finally decided to shun away Bitcoin it also crashed the market. Now, we are again allowing China to hijack the future of Bitcoin by default.

Can't we not live without China? In the world where Made in China products are having an avalanche I am asking that maybe we can spare Bitcoin from the country's influence and possible control.

[Strongkored]

Better to linked the source, with just a few sentences it is not easy to understand the real news.

Singapore is a country that is very receptive to crypto but the population of this country is not much so the impact is also not very visible, different if this happens in China or the USA.

[Darker45]

It's like the recent news are almost equally torn into half, positive and negative. But I guess the positive news on the list far outweigh the negative news. The chinese crackdown, for example, which is a huge loss if everything about it is true because the potential market there is really huge, is somehow balanced by the good news coming from India which has an an equally big potential. It is safe to say that, all in all, we are moving forward rather than backward.

[sureshverma]

If you have any suggestions, comment or discussion, Let's discuss it! Can you guess the overall sentiment of last week from the headlines? Is it Positive, Negative or Neutral? What is your opinion?

As always, negative and neutral. Because you can't make news popular if it's positive.

[mirrasel]

The number 6 is quite alarming for the Chinese government. In these past few days, blockchain technology in China is becoming eminent, but with particular news concerning Ilegal companies running cryptocurrencies might affect how their government will support crypto. In addition, the Philippines having smart cities through cooperation with blockchain company is not yet stated in local news, so I highly doubt it would be implemented.

I also agree number 6 is quite alarming for Chinese crypto industries. You said, Philippines having smart cities through cooperation with blockchain company is not yet stated in local news, but I do believe gradually all the big cities will adopt blockchain technology to provide affordable city services.

[Kemarit]

Two of the seven news (and negative) are coming from China? are we still back in 2017 wherein news coming from them are really affecting the market again? LOL.

As I have said before, behind Russia, China is the least news I wanted to hear and read and I take everything with skepticism here. We have seen the effects of the negative news about the Binance raid, so my advise is too really read the lines because it could be fake news as crypto journalism is one of the worst, IMHO.

[mirrasel]

There are many big good news on the horizon but the market has been transfixed on the developments in China especially its crackdown on businesses that has something to do with cryptocurrency including the popular pyramiding schemes all over the county. The bearish mood right now is the reaction to this clear message from the Chinese government: Blockchain yes but Bitcoin no. I think that should have been clear right from the start but people are dreamers so we all fantasize that soon China can be changing its hard stance on cryptocurrency and then we are served with very cold water. And so Bitcoin even went lower than the level where it was during the time when China's President made a remark on the blockchain.

This industry must be desperate for real good news but instead of looking at China we should be looking elsewhere. We can never expect China to be the leader in the Bitcoin market and why should they when in fact they are even crafting their own cryptocurrency so why invite a big competition from Bitcoin? This just sounds so rationale. In 2017, China was a big force in the movement of Bitcoin and when the county finally decided to shun away Bitcoin it also crashed the market. Now, we are again allowing China to hijack the future of Bitcoin by default.

 In the world where Made in China products are having an avalanche I am asking that maybe we can spare Bitcoin from the country's influence and possible control.

A heavy comment!

Can't we not live without China?

, I think it's tough to live without China. Most of the electronics products are from China and China's Economy always plays an important role in the U.S. and the World's economy.

[mirrasel]

Better to linked the source, with just a few sentences it is not easy to understand the real news.

Singapore is a country that is very receptive to crypto but the population of this country is not much so the impact is also not very visible, different if this happens in China or the USA.

Thanks for the suggestion. I will add the links on the next week's update. Yes, the impact is not that much visible but this is a good beginning for the industry!

[mirrasel]

It's like the recent news are almost equally torn into half, positive and negative. But I guess the positive news on the list far outweigh the negative news. The chinese crackdown, for example, which is a huge loss if everything about it is true because the potential market there is really huge, is somehow balanced by the good news coming from India which has an an equally big potential. It is safe to say that, all in all, we are moving forward rather than backward.

Yes! We are moving forward! No way, it's the future!

[mirrasel]

The news about China’s ‘Silicon Valley’ Identifies 39 Cryptocurrency Companies As Illegal scares me. If China will ban any business with cryptocurrency the crypto market will suffer. China is the largest region in Asia and its rejection of crypto will have a negative effect

I also think so.

[hello_good_sir]

The number 6 is quite alarming for the Chinese government. In these past few days, blockchain technology in China is becoming eminent, but with particular news concerning Ilegal companies running cryptocurrencies might affect how their government will support crypto. In addition, the Philippines having smart cities through cooperation with blockchain company is not yet stated in local news, so I highly doubt it would be implemented.

I agree, the mindset they are taking with the new technology is quite weird. They are obviously great supporters of blockchain technology, but they seem to really dislike crypto-currencies, and are finding any way to ban them from their own country. Lack of control, anyone?

The US news is great, I was pretty concerned they were going to left behind by other countries who are developing their own crypto-currencies.

Binance in India? That's going to be, a lot of the people there are very welcome to smartphones, and they lack a TNC exchange, this could give them a huge market share.

[xiboothrezi]

Better to linked the source, with just a few sentences it is not easy to understand the real news.

Singapore is a country that is very receptive to crypto but the population of this country is not much so the impact is also not very visible, different if this happens in China or the USA.

True, it would be more effective if the OP included a link from the news source so that all members could read the whole story. But I'm always, OP doesn't play clickbait.

Singapore is indeed one of the countries that are quite open and accepts the development of blockchain and cryptocurrency well. The government supports the development of blockchain and cryptocurrency by applying KYC and AML to anyone who wants to join. Moreover, the community also considers this digitization process to be a very important and useful part. However, as you explained, the population is not as much as other influential countries such as China and the USA, however, this is quite a good influence.