China declares crypto transactions illegal; Virgil Griffith pleads guilty to conspiracy|CGPulse:Oct1
This is cranky calls chinas, crypto crackdown intensifies with the blanket ban on digital currency transactions and mining. The peoples bank of china recently issued a statement declaring all crypto related activities illegal for the first time, 10 of the most powerful regulators, including the central bank, financial securities and foreign exchange, vowed to stop all cryptocurrency related activities. The move comes amid a global crackdown, as governments see that privately operated digital currencies could increase risks and threaten financial systems. Meanwhile, chinas crackdown is a big opportunity for the u.s. According to senator pat toomey, the senator tweeted that it is a reminder of the countrys used structural advantage over china in august zuma, requested proposals from the public aiming to clarify laws around digital currencies. To ensure the united states remains at the forefront of crypto and fintech innovation amid chinas move to ban cryptocurrencies the second biggest ethereum mining pool in the world shuts down sparkful announced earlier this week that it is suspending users access in mainland china to protect its users. Assets these include suspending existing users in the country and abroad in other news, heres, a development on the high profile case, a former ethereum foundation, senior researcher and developer virgil griffith. The u.s department of justice announced griffith has pleaded guilty to charges of advising north korea on using cryptocurrency and blockchain technology to evade sanctions. Griffith will be sentenced in january next year and could serve up up to two decades in prison.
All roads lead to the big apple next week as washing pioneers scott cernetta and stewart haber joined. The highly anticipated corny conference in new york, recognized as the creators of blockchain technology and even cited in the footnotes of the original bitcoin white paper. Sternetta and haber are a powerful addition to coingeeks future off technology panel. They will be joined by renowned photographer ian grigg and ancient chief scientist, dr craig wright, on the first day of the conference visit coingeconference.