#CryptoCorner: Chinese Gov’t Agency Labels Crypto Mining “Undesirable”, Western Union (NYSE: $WU) Partners with Coins.ph
#CryptoCorner:
Chinese Gov’t Agency Labels Crypto Mining “Undesirable”, Western Union (NYSE:
$WU) Partners with Coins.ph
Point
Roberts WA, Delta BC, April 9, 2019 -
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April 9 Crypto Corner
Chinese central government agency,
the National Development and Reform Commission (NDRC), has identified bitcoin
mining as “undesirable” in a recently published proposal, according to CoinDesk. This designation will be subject to
public feedback, after which it may come into effect. This could have
significant impact on the market, as over one million crypto mining machines
are expected to be operating in the country’s southwestern region this summer.
The Western Union Company (NYSE:WU) has announced via press release that they have partnered with
Philippines blockchain-based e-wallet company Coins.ph. The development would
allow more than five million customers to receive international and domestic
money transfers directly into their Coins.ph wallets in the Philippines. Ron
Hose, Coins.ph co-founder and CEO said:
“There
are many overseas Filipino workers who send money back home regularly and are
always looking for additional remittance options that will make it most
convenient for their loved ones to receive money. By pairing Coins.ph’s
payments technology with Western Union’s expansive global network, we are
giving Filipinos a seamless choice to receive money digitally, on the go.”
Canadian crypto exchange QuadrigaCX
has officially entered bankruptcy proceedings, according to the CBC. The exchange has not been operating for
three months, and its 115,000 users are owed over $260 million CAD in cash and
cryptocurrencies.
Crypto lending firm Dharma is now
available to the public, according to a blog post yesterday by the company. The
announcement indicates that users can use Dharma’s services through any wallet,
and that upon launch Ethereum (ETH) and the stablecoin DAI will be supported.
An excerpt from the post reads:
Our goal
is to make borrowing and lending beautiful and easily accessible — we’re here to onboard the next million
users to crypto-finance. To do so, we’ve built an experience similar to today’s
most popular internet applications, but with the magic and speed of an upgraded,
programmable financial system. Dharma is a product that just works.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
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