Major crypto/blockchain news of the day summarized in a way that you don’t miss a single news without having to spend a lot of time.
1. JPMorgan Tests Private Blockchain to Track Auto Dealer Inventory
JPMorgan thinks a blockchain can help it keep track of the automobile inventory it finances for car dealers – and prevent them from pledging the same cars for different loans. The bank’s wholesale car financing arm has filed a patent application describing a distributed ledger-based version of floorplan lending, a revolving line of credit that allows car dealers to borrow against retail inventory. Read More
2. Chinese Central Bank Plans to Nip Young Crypto Businesses ‘In the Bud’
China’s central bank has launched a new campaign to crack down on crypto trading in Shanghai on Friday, after speculation about softer regulations surged in the sector. The official announcement came one week after CoinDesk reported a leaked notice that detailed an inspection plan for crypto-trading operations in each district of Shanghai. Read More
3. Bitcoin Price Dips to Six-Month Low of $7,000
Bitcoin’s price dropped to a six-month low on Friday, with a widely tracked technical indicator reporting the strongest bearish bias in eight months. The number one cryptocurrency by market value fell to $7,009 on Bitstamp at 10:05 UTC – the lowest level since May 17 – erasing the entire rally from $7,293 to $10,350 in October, plus some. Read More
4. New Report on Crypto’s Legal Status in UK Lays Out Regulation Option
The Brexit crisis has tarnished the reputation of the U.K. — a country that was once famed for its strong economy and pro-business approach has come to be known for division and stagnation. For three years, the country has remained in stasis as other, more forward-thinking nations fill the void left behind. Despite many prominent crypto-related companies basing themselves in the U.K., the country yet lacks any concrete crypto regulation compared to some of its Asian and European counterparts. Read More
5. European Investment Fund Unveils €400m Blockchain, AI Initiative
The European Commission and European Investment Fund (EIF) has launched a new investment scheme for artificial intelligence (AI) and blockchain in Europe, the organization announced in a Nov. 20 blog post. The announcement reads: Read More
