China’s Digital Currency to be Tested in Two Cities – December 9

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $7,490

Bitcoin has stabilzed around the $7,500 mark over the weekend, with price slowly trickling down over the last 24 hours.

Altcoins are a mixed bag, with XRP and Ethereum down 1%, while HedgeTrade is the best top-20 performer with a rise of 3.5%

Top Stories for December 9, 2019 πŸ”₯

πŸ‘‰ China’s Digital Currency to be Tested in Two Cities

China will soon be testing their central bank digital currency in the cities of Shenzhen and Suzhou, partnering with seven government-owned companies in the pilot.

Three telecommunications companies and four banks are involved in the program, with each company encouraged to come up with their own implementation strategies.

The pilot program will consist of two separate phases, with a small testing period at the end of this year being followed by wider promotion in 2020.

πŸ‘‰ New IRS Tax Form Demands Info on Your Crypto Involvement

The IRS have released a new form for 2019 tax returns, which contains questions asking if citizens have received, sold, sent, exchanged, or acquired interests in any virtual currencies.

Experts have commented on the vagueness of the question, stating that they are not sure if things such and sending cryptocurrency between one’s own wallets qualify.

πŸ‘‰ HEX Founder on Track to Control $100m ETH of Investor Funds

Details found regarding an “Origin Address” in the HEX token contract is expected to gather millions of dollars worth of Ethereum from investors.

Although it is not stated who controls the address, it is speculated that the HEX founder Richard Heart is the owner of the address.

$3m worth of Ethereum has already been invested into the project within the first 24 hours of a one-year-long launch.