China’s Sichuan Province Seek to Ban Crypto Mining – May 22

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,148

Bitcoin price slid a further 2% to the downside today, as price action continues to cool off after its pre-halving rally.

Top-20 altcoins are also mostly down, with Ethereum falling 2%, XRP remaining almost unchanged and Bitcoin Cash falling almost 2%. NEO was the day’s largest gainer, rising almost 3%.

Top Stories for May 22, 2020 🔥

👉 China’s Sichuan Province Seek to Ban Crypto Mining

China’s Sichuan province, its second most popular province for crypto mining, has issued a notice seeking to ban cryptocurrency mining in the region.

The notice orders hydroelectricity powerplants to halt investment in cryptocurrency mining activities, and that no new mining activities should be taken up.

Insider sources have stated that they do not expect the order to be enforced, however, stating that they expect business to continue as usual.

👉 JPMorgan Warn that Cryptocurrencies May Topple US Power

A report from JPMorgan analysts has warned that the United States may be the country with the most to lose from the rise of cryptocurrencies, due to their reserve currency status.

The analysts cite the danger of other countries circumventing the use of the US SWIFT payments system, which would reduce the country’s power to achieve its geopolitical goals.

👉 Cardano Developing Microchip to Enable Offline Transactions

Cryptocurrency project Cardano (ADA) is developing a microchip which seeks to enable offline cryptocurrency transactions, which would provide users with a cash-like experience.

The chip is being developed by IOHK at their blockchain lab at the University of Wyoming, and will be completely open-source.

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