CRYPTOCURRENCY NEWS TODAY: China’s Latest Government-Backed Crypto Rankings Put EOS 1st, Alibaba Offshoot Trials First Blockchain Remittance, Quebec Weighs Plan to Sell 500 Megawatts to Crypto Miners, Bitcoin Miner BTCC to Sell Stake for $17 Million, Japan Wants to Stop Cryptocurrency Criminal Activities With Credit Evaluation
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China’s Latest Government-Backed Crypto Rankings Put EOS 1st, BTC 17th
The second round of China’s state-backed monthly ratings of cryptocurrencies and blockchain projects has been released…Dubbed the “Global Public Chain Technology Evaluation Index… it ranks EOS 1st, Ethereum (ETH) 2nd, and Bitcoin (BTC) 17th, out of a total of 30 analyzed cryptocurrencies…EOS’ top ranking is attributed to the “outstanding technical advantages in transaction confirmation efficiency, network throughput, and transaction costs” of the protocol…The Index has been portrayed as a monthly “independent analysis,” which evaluates global blockchain projects on the basis of their technological capability, usefulness and innovation.
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Alibaba Offshoot Trials First Blockchain Remittance to Philippines, Plans Global Expansion
Alibaba subsidiary Ant Financial has trialed its first blockchain remittances, sending a transaction in three seconds..formerly known as AliPay, completed a funds transfer between its AliPayHK app in Hong Kong and Filipino payment app GCash, its joint project with local telecoms company Globe Telecom…Ant Financial will establish international outreach in future…“Using blockchain to achieve cross-border remittances is one of my most concerned projects in the past six months. Starting from Hong Kong, this service (AlipayHK) will be brought to the rest of the world in the future,” [said Jack Ma]…The tycoon conversely remains bearish on cryptocurrency, which he in May described as a “bubble”.
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Quebec Weighs Plan to Sell 500 Megawatts to Crypto Miners
Quebec’s public power utility has submitted plans to the provincial government that could clear the way for Hydro-Quebec to set up a new framework through which to work with cryptocurrency miners. The plan, if approved, would create a selection process by which Hydro-Quebec will parcel out 500 megawatts worth of power to crypto miners…allow miners to submit bids that Hydro-Quebec would consider based on their ability to create jobs and economic benefits to Quebec…The utility also wants to put a cap on the amount of power that crypto-miners can draw during the year, in an effort to free up power for other customers.
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Bitcoin Miner BTCC to Sell Stake in Pool for $17 Million
BTCC Pool Limited, the mining pool business of cryptocurrency exchange BTCC, has provisionally agreed to sell 49 percent of its equity… to its potential buyer, Value Convergence (VC) Holdings Limited – a Hong Kong-based financial service firm – the deal would raise 147 million Hong Kong dollars (US$17 million) if finalized…Publicly traded in Hong Kong, VC Group is a securities brokerage and asset management firm. The firm said in the MOU that the deal is being made through its wholly-owned subsidiary Initial Honor Limited, and comes as part of a wider effort to grow its business by a move into the financial technology industry.
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Japan Wants to Stop Cryptocurrency Criminal Activities With Credit Evaluation
The government of Japan has said that major credit agencies will evaluate cryptocurrency users to prevent the utilization of digital assets in laundering money generated from illicit operations…Credit agencies, information security research firms, and Japan Credit Information Service will cooperate with the government to investigate suspicious cryptocurrency trading accounts and individuals that trade unusually large amounts of digital assets beginning in a few weeks…“By providing the personal information of suspicious individuals including credit scores and financial data, the government hopes to protect investors and improve the security of the cryptocurrency industry.” However, to prevent the leak of personal information, the four credit agencies will not provide sensitive financial and personal data
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