Categories: Ripple

Bitcoin Daily: Thailand Central Bank To Adopt Ripple Rival; WeChat Bans Crypto News Accounts

Click here to view original web page at

Bitcoin got a jump, spiking more than $400 to about a two-week high and nearing $7,000. The reasons for the boost were not all that clear on Wednesday (Aug. 22), with a following dip from those levels. However, even at around $6670, it is down more than 65 percent from the peak.

Much of the crypto news came in from Asia. In Thailand, headlines showed that the country’s central bank will issue its own digital currency. The currency to be released by the Bank of Thailand, according to The Next Web, is based off an open source blockchain that the site said is “eerily reminiscent of Ripple,” the banking ledger from Ripple Labs. The goal of the Central Bank Digital Currency is to help speed payments between banks. The currency is built on the distributed ledger technology (DLT) platform Corda, which is developed by R3, a blockchain firm in New York.

Beyond that, cryptos got a thumbs down from several avenues. In China, the messaging app WeChat has banned accounts that focus on crypto events and crypto news. Reports said that those accounts run the gamut of digital currency trading, from initial coin offerings (ICOs) to blockchain, as the media content runs afoul of recent trading and other rules put in place. WeChat itself noted that “a Tencent official said that some public accounts are suspected of publishing ICO and virtual currency trading hype information, violating the ‘Interim Provisions on the Development of Public Information Services for Instant Messaging Tools.’”

Elsewhere in China, the district of Chaoyang in Beijing (the capital, of course) has a notice up in public places, such as malls and offices, that bans crypto events. Publications stated that both moves — the public ban and the WeChat ban — show how new efforts are coming to bear on the space, even in the wake of a ban on ICOs and trading that came this past fall.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin Price Fumbles Under $10,000 as Traders Fear $8K Target

Bitcoin price is trading below $10,000 and a further pullback could drive price even lower. | Source: Shutterstock By CCN… Read More

3 hours ago

Mark Carney’s Dollar-Killer Digital Currency Threatens Bitcoin

Mark Carney, governor of the Bank of England (BOE), has a plan to challenge the dollar's dominance. | Source: Photo… Read More

3 hours ago

Crypto Funds Are Outperforming – You Shouldn’t Be Surprised

Josh Gnaizda is the founder of Crypto Fund Research . It’s one of the worst-kept secrets in the alternative investment… Read More

3 hours ago

FTC Settles With Promoters of Multi-Level Marketing Crypto Scheme

The U.S. Federal Trade Commission (FTC), has settled charges it filed last year against four promoters of crypto-denominated multi-level marketing… Read More

3 hours ago

Ethereum moves closer to Istanbul hard fork as Geth and Pantheon merge all improvement protocols

While Ethereum is on its way to shifting from Proof-of-Work to Proof-of-Stake, the developer community is currently engaged with the… Read More

4 hours ago

Binance Research: Too early to rule out Ethereum blockchain competitors

Binance Research, the market research and analysis arm of Binance, has published a report on tokenization and the key factors… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More