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Cryptocurrency declined during Thursday trading

2019-01-10 01:12 pm | Resource: News | No Views : 45

Cryptocurrency declined during Thursday trading Cryptocurrency retreated on Thursday as Bitcoin lost the most digital currency in the world by more than 5%, while Bitcoin lost more than 15% of its cash.

Cryptocurrency decline trading
  • Bitcoin fell 5.54% against the dollar to 3,856.90 at 10:55 CET.
  • At the same time, Bitcoin Cash ABC plunged 17.38%, trading at $ 134.99
  • Bitcoin Cash SV dropped 11.52%, trading at $ 77.95 at 10:59 am CET.
  • XRB was trading at $ 0.33756, down 7.86%.

China imposes blockchain rules to enable "orderly development"

China's mass platforms will have to ban the content and allow authorities to access stored data and verify user identity under the rules set by Beijing on Thursday, Reuters reported.

The regulations, which will come into force next month, "will push the development of the health and regulatory industry," the China Aerospace Administration (CAC) said.

China has taken tough measures on currencies documented since 2017 when the government banned initial currency offers and banned local foreign exchange from working locally.

Blockchain platforms will now be required to perform real name registration of users via national ID or phone number, control content and store user data.

Companies found to be violating the rules could be subject to fines or prosecution.

Despite the crackdown, Beijing says it promotes research in blockchain technology, which is famous for codifying bitcoin transactions but is increasingly used in areas such as crude oil trading or supply chain tracking.

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