Coinatory

The National Development and Reform Commission of China (NDRC) wants to ban bitcoin mining. The corresponding document appeared on the website of the organization. How will it possibly influence bitcoin? Well, let"s figure out what possible outcome this decision might give to bitcoin network - this will reduce the hashpower of the network, blocks will be harder to be confirmed, it will take longer to calculate one block. This situation might look as a disaster, considering the fact that by some calculations, up to 60% of the hashpower of the entire network is currently located in China. According to the logic of an average human-being, we imagine a huge factory with some production lines that are constantly printing bitcoins as the ... Read more about " What if China bans bitcoin mining? " on coinatory.com

According to the draft report of the Central Bank of Iran, which became available to the media, the country"s central bank intends to prohibit the use of cryptocurrency as a means of payment. The document of the central bank, entitled "Obligations and rules of cryptocurrency turnover", says that "any cryptocurrency wallets will be used exclusively for storing and moving cryptocurrencies, whereas the integration of any services with cryptocurrencies is prohibited." If the rules come into force, the central bank will stop using cryptocurrencies as a means of payment. However, according to the document, the central financial department of Iran does not intend to prohibit citizens from storing or moving small amounts of “allowed” cry ... Read more about " Iran may ban Bitcoin as a means of payment " on coinatory.com

According to CNBC-TV18, a research group set up by the government of India has concluded that all virtual currencies in the country should be outlawed. The task assigned to the employees of the group by the authorities was to create a bill regulating the circulation of cryptocurrencies. The group, headed by Subhash Chandra Garg, Secretary of the Department of Economics under the Ministry of Finance of India, was established in November of this year. After completing its mission, the group handed the conclusion to Finance Minister Arun Jaitley, who must make a final decision. Members of the group believe that the Reserve Bank of India needs a new law to implement the ban on cryptocurrencies: “The law should prescribe punitive m ... Read more about " India on the verge of total cryptocurrency ban " on coinatory.com

Commercial objects located in the busy central district of Beijing received a ban on cooperation with cryptocurrency companies. This caused a lot of rumors about whether the Chinese government intends to tighten the rules for the regulation of the cryptocurrency, given that the industry continues to flourish, despite the bans on trade last year. According to the report, local authorities in the Chaoyang District in Beijing issued an order dated August 17 and warned businesses, office buildings, hotels and shopping centers that they ... Read more about " China: another restrictions for crypto-related companies " on coinatory.com

Vice Chairman of the People"s Bank of China, Ban Gongsheng once again warned the organizers of the ICO, who had moved head offices to other jurisdictions, from working with investors from China. He stated this at a meeting of the working group on financial transformation on the Internet on Monday. Why this is important After the introduction of the ban on cryptocurrency activities in China, the most popular WeChat messenger had limited support for payment functions for users selling digital money. WeChat was not the only service that ... Read more about " The People"s Bank of China declared war on foreign ICO " on coinatory.com

Five months after the introduction of the ban on advertising cryptocurrency projects, the social network Facebook revised its "policy on prohibited products and services", allowing advertising of cryptocurrencies again (but not ICO or binary options). This was reported by the director of product management Facebook Rob Lizern in his blog. He also announced the January ban. "In January, we announced the application of new policies aimed at banning advertisements used to promote financial products and services, which are often associated ... Read more about " Facebook will allow advertising cryptocurrency, but not ICO " on coinatory.com

Wells Fargo, following other major US banks, has banned the use of its credit cards for the purchase of cryptocurrency, Bloomberg agency reports. "Banning the purchase of cryptocurrency, the bank will continue to study the issue as the market develops," the representative of the institution, Shelley Miller, said in an e-mail. Previously, other large banks have imposed bans on the purchase of digital currencies: JPMorgan Chase, Bank of America and Citigroup, which together with Wells Fargo constitute the so-called "big four" of US ... Read more about " Wells Fargo banned buying cryptocurrency with it"s credit cards " on coinatory.com

Cryptocurrency and blockchain associations from Russia, China and South Korea plan to file a class action against internet corporations banning crypto ads. The lawsuit will challenge restrictions imposed by Facebook, Google, Twitter and Yandex. An agreement to take the matter to court in the US has been reached at a crypto conference in Moscow. Cartel Collusion and Abuse of Power Russian, Chinese, Korean Associations to Sue Internet Giants over Banned Crypto AdsThe lawsuit will be filed in a US jurisdiction in May by the newly founded ... Read more about " Russian, Chinese, Korean Associations to Sue Internet Giants Over Banned Crypto Ads " on coinatory.com

The giant search engine recently decided to crack down all the sites dedicated to promote or advertise cryptocurrency products and services. The initiative is encouraged by a similar action taken by Facebook against cryptocurrencies. The banning applies not only to digital currencies advertisement but also to Initial Coin Offerings (ICOs), wallets and any crypto trading advice site. Relating this topic, Scott Spencer, the sustainable ad’s director of Google stated that the company is willing to update its financial ad policies, s ... Read more about " Google to Ban Cryptocurrency Adverts Starting in June " on coinatory.com