Twitter’s Jack Dorsey Backs Crypto Startup, Facebook’s Libra Faces Another Blow And More

Korean Presidential Committee favours legalising cryptocurrencies

China releases a set of Bitcoin, Ethereum, blockchain videos for educational purposes

Largest child sexual exploitation website on darknet has been taken down, rescuing dozens of minors

Since Chinese President Xi Jinping batted in favour of blockchain-based innovations and investments in the technology, earlier this week, cryptocurrencies, especially Bitcoin witnessed a sudden spike. After a downslide for the last couple of months, October saw an upswing of around $1K in price.

Image courtesy: Coinmarketcap

The Chinese state media, however, warned that the statement must not be seen in favour of cryptocurrencies, and investors must be careful while investing in these companies.

After Xi’s statement, the Publicity Department of the Central Committee of the Communist Party of China (CCPPD) has released around 25 instructional videos on cryptocurrencies and blockchain. The videos intend to educate on Bitcoin and other cryptocurrencies.

As India and China are carefully calibrating the benefits of blockchain and cryptocurrencies, the South Korean Presidential Committee on the Fourth Industrial Revolution (PCFIR), directly under the president, has made a slew of recommendations including establishing legal status of cryptocurrencies. PCFIR Chairman Chang Byung-gyu reportedly stated,

The legal status of crypto assets should be established as soon as possible, and tax and accounting measures should be taken.

Meanwhile, a coup at Chinese mining major Bitmain. According to reports, Wu Jihan, who had stepped back from his role at the company, had returned to oust Micree Ketuan Zhan as legal representative and executive director.

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