Russia: New law would let police confiscate Bitcoin starting in 2021...
One week in review:
Nov. 4–10 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1 Russia: New law would let police confiscate Bitcoin starting in 2021 | | | We begin in Russia where the government is pursuing a seemingly impossible law that would allow it to confiscate Bitcoin. Reports suggest that the plans, which target "digital assets," could become law in 2021. The country's laws regarding cryptocurrencies have been long-awaited but subject to multiple delays. | | #2 "Bullish for Bitcoin" — China scraps plan to ban cryptocurrency mining | | | Chinese authorities have confirmed in new official documents that BTC mining is not going to face a state crackdown. It's a rare boon for BTC-related activities in China, a country where cryptocurrencies outside of the central bank's control remain all but banned. Last month, BTC/USD prices soared when President Xi Jinping called for the adoption of blockchain technologies to be accelerated across the country. The latest announcement appeared to have little impact on the crypto markets, but it's good news for the likes of Chinese mining giant Canaan Creative, which recently unveiled plans for a $400 million IPO. | | #3 Coca-Cola using blockchain for $21-billion-per-year network | | | News emerged this week that Coca-Cola's bottlers are implementing blockchain technology to manage their cross-party transactions. Andrei Semenov, a senior manager at Coke One North America, said the technology was helping to speed up transactions and save money — with the duration of order-reconciliation being slashed from 50 days to just a few days. | | #4 Hong Kong steps up research into central bank digital currency | | | A big announcement was made during Hong Kong Fintech Week, with the territory's monetary authority confirming it is conducting research into applications for a central bank digital currency. It has also emerged that the Hong Kong Monetary Authority has signed a blockchain collaboration with the People's Bank of China, which is touted as the first economy that will achieve such a milestone. | | #5. Prediction of the Week Roger Ver apparently thinks Bitcoin Cash's value could increase 100,000% | | | This week, Roger Ver said he was planning to give $5 in Bitcoin Cash to each of his Facebook friends — all with a view to catalyzing the adoption of the world's fourth-largest cryptocurrency in terms of market capitalization. He said that humble $5 "could easily be worth $5,000 some day" — an increase of 99,900%. BCH's price currently stands at around $287, meaning the coin would need to soar to an eye-watering $287,000 for his prediction to be realized. | | #6. FUD of the Week Venezuelan President Nicolas Maduro touts Trezor Bitcoin wallet on national TV | | | There have been some confusing scenes in Venezuela this week, during which President Nicolas Maduro appeared on state-run television holding a crypto hardware storage device that was allegedly developed by Trezor, a major wallet supplier. He was flanked by people who claimed to be from a business called Trezorvenezuela. The company initially denied having any association with the country — insisting it doesn't have resellers based there — and vowed to launch an investigation. It has since emerged that Trezorvenezuela was briefly an authorized reseller before its status was rescinded because of inactivity. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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