The crypto market bloodbath that is currently engulfing the entire industry will likely go down in history as one of the key points to remember regardless of whether the prices recover or continue going downward. To recap, the crypto market plummeted after a week of bad news as both Tesla CEO Elon Musk and the Chinese government threw spanners into the works of crypto miners, sending Bitcoin (BTC) all the way down to $30,000. This marked the largest-ever monthly decline in the value of BTC in monetary terms as it more than halved in value in comparison to the all-time …

Bitcoin’s (BTC) general downtrend continued on Monday morning despite the coin showing a strong 17% rebound overnight. As the coin continues to nurse wounds from its recent 43% price drop from an all-time high, more turbulence could yet be in store for Bitcoin and the broader cryptocurrency market. Several large Bitcoin miners opted to cease operations in China this past weekend following the news that Chinese authorities were planning a crackdown on cryptocurrency mining. By Monday morning, three Bitcoin mining pools had announced plans to halt activities in China. BTC.TOP, which accounted for as much as 2.5% of the overall …

Seychelles-based cryptocurrency exchange Huobi has reportedly suspended futures and leveraged trading for new customers in some countries, raising questions about the regulatory scrutiny facing digital assets. As reported by Bloomberg, Huobi is limiting these services in a handful of jurisdictions but didn’t specify which countries would be affected. There was also no word on why the temporary suspension is being implemented, though it could be tied to perceived regulatory uncertainty in China. The exchange is also reportedly scaling back its miner hosting services in China after regulators in the country reaffirmed their plan to crack down on cryptocurrency trading activities. …

The stream of negative regulatory news concerning Bitcoin (BTC) and cryptocurrencies has been nonstop over the past couple of weeks. Today's FUD — fear, uncertainty and doubt — news that failed to cite any actions and merely refreshes old information from China. A statement from the Chinese government revealed plans to "crack down on Bitcoin mining and trading behavior." While retail traders are easily scared by this type of news, whales and market makers know how to spot a buying opportunity, which was the case for today's drop to $36,200. China banned Bitcoin trading… in 2017 The Chinese Financial Stability …

Bitcoin (BTC) saw a fresh price dip on May 21 amid reports that China had reiterated its pledge to crack down on mining and trading. China and Bitcoin: Old news Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD shed 10% in minutes on May 21 as mainstream media turned up the volume on familiar bad news. The pair had recently regained $42,000 after a record-breaking recovery from a $30,000 dip on May 19, with the latest concerns erasing some of its progress. These focused on a Chinese government statement that revealed plans to "crack down on Bitcoin mining …

Hong Kong regulators have moved to ban retail trading in Hong Kong after months of intense speculation about a likely prohibition. According to a report by Reuters on Friday, the Financial Services and the Treasury Bureau of Hong Kong has released the results of its consultation on a possible retail crypto trading ban, which began back in November 2020. As part of its conclusions, Hong Kong’s FSTB called for a comprehensive licensing regime for crypto exchanges while restricting trading only to qualified investors. Per Hong Kong law, only individuals with portfolios worth 8 million Hong Kong dollars (about $1 million) …

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Is China banning crypto again? FUD watchers got a glimpse of an old favorite as three government bodies in China, including the China Internet Finance Association, the China Banking Association and the China Payment and Clearing Association re-warned the public about the risks of investing in cryptocurrencies. This dates back to a 2017 ruling that all exchanges must close and a 2018 ruling on ICOs. But is it …

China’s blockchain-linked equity stocks have been doing notably better than the rest of the global crypto equity market during a flash crash on Wednesday. According to a Bloomberg-curated basket of eight Chinese A-share equities tied to the blockchain industry, China’s blockchain equity stocks were down less than 2% as of 6 a.m. UTC on Thursday, Bloomberg reports. The equity basket comprises shares of IT services company Shenzhen Forms Syntron, business management firm Ygsoft, and data exchange-focused company Brilliance Technology. Ygsoft — a Chinese company specializing in blockchain-based tools for supply chain and product traceability — is down around 1.6% over …

After an agonizing 35% loss in the past 24-hours, Bitcoin (BTC) finally bounced at $30,000 earlier today in the May 19 trading session. A total of $3.5 billion in liquidations took place, which might have accelerated the movement, but they can't really be entirely blamed for the move. However, the weakness in derivatives markets did give some strong signals that panic was instilled, causing unsustainable levels. These can be measured by the price gap between the futures markets and regular spot exchanges, along with the negative funding rate on perpetual contracts. Multiple culprits catalyzed the drop, including Elon Musk, Tether …

Bitcoin (BTC) has hit its lowest price since Feb. 8 and is struggling to maintain $40,000 — but is Elon Musk wholly to blame? Cointelegraph takes a look at other factors working against Bitcoin bulls this week as the market returns to levels that some thought would never appear again. USD bounces off multi-month lows Tesla CEO Elon Musk bashing Bitcoin’s energy consumption is the narrative of the moment everywhere, but some classic hurdles to fresh price gains are also back this week. Among them is the strength of the United States dollar, which is attempting to stage something of …

A new announcement from the Inner Mongolia Autonomous Region Development and Reform Commission, or DRC, has informed the public that they now have a direct way to report any outlying cryptocurrency operations in the region. As previously reported, Inner Mongolia was once home to a vast network of crypto mining operators, who collectively accounted for 7.71% of the global Bitcoin network hash rate between September 2019 and April 2020. As part of Beijing's increasingly proactive, ambitious agenda to reduce carbon emissions, Chinese authorities have increasingly scrutinized the coal-rich region of Inner Mongolia, where plentiful, cheap electricity remains reliant on fossil …

The Nervos Foundation has announced the launch of a fund in collaboration with CMB International, a wholly-owned subsidiary of China Merchants Bank. The $50 million fund named “InNervation” will be used to make early investments in startups that are building blockchain-based user-centric products. Decentralized finance (DeFi) protocols, dApps, and nonfungible token (NFT) marketplaces will be a particular focus of the investments. Nervos is a Chinese blockchain project based on a Layer 1, Proof of Work, public permissionless blockchain protocol. It claims to allow any crypto asset to be stored with the same security and immutability as Bitcoin but also enables …