Breaking: Chinese Supreme Court Classifies Crypto Trading As Illegal
China’s supreme court on Thursday classified crypto transactions as illegal, and said violators could face hefty fines and up to 10 years in prison.While top-level Chinese government bodies had already outlawed crypto in 2021, the move now makes crypto trading formally illegal, and allows the government to take legal action against traders.
🔥Russia-Ukraine Conflict May Hit Bitcoin Mining; Here’s Why
The crypto mining industry faces renewed disruption as the Russia-Ukraine conflict threatens to upset the supply of materials crucial to semiconductor manufacturing. The industry is still reeling from a severe, near two-year chip shortage that ramped up the prices of graphics cards, which are crucial towards minting tokens.
🔥Breaking: Vladimir Putin Says Ready To Negotiate With Ukraine
Bitcoin and most other cryptocurrencies extended a recovery on Friday on reports that Russian President Vladimir Putin was willing to hold high-level negotiations with Ukraine.
🔥Can Russia Use Crypto To Bypass U.S. Sanctions? Canada’s Freedom Convoy Proves So
Speculation grew over whether crypto transactions could help Russia bypass restrictions placed on its financial system by the United States, after President Joe Biden on Thursday announced stricter sanctions against the country.
🔥China-Taiwan Conflict: A New Threat To Crypto Markets?
With cryptocurrency markets having dropped sharply as the Russia-Ukraine conflict escalates, traders have identified a new possible source of strife- China and Taiwan. Reports that Chinese aircraft had entered Taiwan airspace fueled speculation whether the country could be the “next Ukraine”.