New framework unveiled in China for Bitcoin, blockchain technology

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BI Intelligence Initial coin offerings (ICOs), a form of fundraising involving digital tokens, have gained popularity recently, prompting diverse parties to devote attention to how ICOs might fit into existing regulatory frameworks. Now, six Chinese blockchain technology industry associations have jointly publisheda framework, dubbed the Guiyang Blockchain ICO Consensus, suggesting ways blockchain technology companies should behave to reduce investor and stability risks around such token sales in China. The framework is purely advisory, however, since the six associations don’t have legislative powers. Given how quickly ICOs have taken off, the associations’ focus on this fundraising method is understandable. ICO fundraising volumes have reached $420 million in China, attracting over 100,000 participants, and there are now more than 40 platforms offering ICOs nationwide, according to Chinese media. China currently has no ICO-specific rules, but the People’s Bank of China (PBOC) has begun looking at how to regulate fintech as a whole, including by opening a digital currency center and conducting cryptocurrency exchange inspections. As ICOs get more traction, however, the regulator is likely to begin addressing them specifically, and may use the Guiyang framework to guide its own approach. It’s questionable how much value an ICO-specific framework will add. It seems increasingly clear that there isn’t necessarily a need for …

Bitcoin IRA Adds Support for Ethereum, Litecoin, and Bitcoin Cash

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Cryptocurrency-related IRAs have exploded in popularity in the US lately Especially the Bitcoin IRA is immensely popular thanks to its […] The post Bitcoin IRA Adds Support for Ethereum, Litecoin, and Bitcoin Cash appeared first on Bitcoin Network, News, Charts, Guides & Analysis. Read More

Blockchain.info to Support Bitcoin Cash

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Blockchain.info just released a blog post saying they will support bitcoin cash (BCH). They have been monitoring it since the hard fork on August 1. Within the next 8 weeks they will be rolling out limited support for BCH via their settings panel. The panel is situated on the blockchain.info user wallet home page.  Also read: A […] The post Blockchain.info to Support Bitcoin Cash appeared first on The Bitcoin News – Leading Bitcoin and Crypto News since 2012. Read More