PBoC warns against crypto trading / CFTC chair doesn't want to "snuff out" innovation / OneCoin lawyer found guilty

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Presented by Subscribe | View in browser Market Watch: The downtrend continues during Friday trading with Bitcoin creeping closer to the $7,000. Bitcoin: $7,189 (⬇️ 6.60%) // $129.8 billion market cap. Ethereum: $149 (⬇️ 8.40%) // $16.2 billion market cap. XRP: $0.232 (⬇️ 4.52%) // $10 billion market cap. Tether: $0.99 (⬇️ 0.56%) // $4.1 billion market cap. Top 100 Winner: MMOCoin: $1.18 (⬆️ 86.72%) // $70 million market cap. Top 100 Loser: EDUCare: $0.061 (⬇️ 24.53%) // $61 million market cap. Prices are as of 2:10 p.m. ET.       1. China's central bank has warned that it will take action against crypto exchanges found to be operating illegally in the country. According to the People's Bank of China (PBoC), the move comes after the nation's president, Xi Jinping, publicly endorsed the adoption of the blockchain last month. As a result, crypto trading speculation has shown signs of rising, a translation of the statement reads. Pledging to upload its current ban on crypto trading, the PBoC said that it would "dispose of" any platform found to be operating and that it would prevent trading from happening. –COINTELEGRAPH       2. Heath Tarbert, chair of the U.S. Commodity Futures Trading Commission (CFTC), has said that when it comes to crypto regulation, it doesn't want to "snuff out innovation." In an op-ed piece, Tarbert stated that regulators need to first understand the outcomes and potential drawbacks before applying their rules to the market. In his opinion, taking a "principles-based approach to regulating digital assets and other fintech products would permit a period of development and observation." After regulators better understand the types of outcomes they may encounter, they can adopt tailored and targeted rules to the market. –CFTC       A MESSAGE FROM LEDGER Ledger Nano X Limited Edition - only a few units left For our 5 years anniversary, we released a limited edition of our star product, the Ledger Nano X. It's only been a few weeks and we are already almost out of stock! Don't miss your opportunity to get one. Buy now 3. Follow Friday: Julio Alejandro Alejandro is the CEO and founder of three blockchain enterprises in London: Jada Consulting - "Taming Disruptive Technologies"; Humanitarian Blockchain; and "Digital Anarchy" - Innovation Lab. During his day-to-day activities, he delivers consultancy services in artificial intelligence (AI), blockchain, Internet of Things (IoT), and mixed reality. In 2016, he lectured, competed, and lobbied at the United Nations, the European Union, the University of Cambridge, Google Campus London, and several institutions and think tanks on disruptive technologies and entrepreneurship. With just over 2,600 followers on Twitter, Alejandro recently argued on Twitter that governments are "inefficient money wasters." He also discusses politics, recently commenting on WikiLeaks founder Julian Assange, the U.K.'s Labour Party, and more on his Twitter page.       4. Mark Scott, a U.S. lawyer, has been found guilty for his role in the OneCoin crypto scam, which raised around $5 billion from investors. A New York jury found Scott guilty of aiding the scheme, moving $400 million out of the U.S. and attempting to conceal the true source of the funds and ownership. He's reported to have made as much as $50 million from it. As a result, he faces a 50-year jail sentence. The scheme's mastermind, Dr. Ruja Ignatova, known as the "Cryptoqueen," is still missing. Her brother, Konstantin Ignatov, recently pled guilty for his role and faces up to 90 years in prison. Scott is due to be sentenced in February. –BBC       5. Crypto exchange Bitfinex, which is associated with stablecoin Tether, has revealed that it's planning to develop "educational programs," to boost understanding of the market. In partnership with ODEM, a blockchain-based education marketplace, the two will launch a series of programs and courses aimed at boosting the level of education for Bitfinex users about the token economy. –DECRYPT       6. Two thieves who stole $4,000 from a Bitcoin ATM from a Canadian grocery store mistakenly left $50,000 behind in a second robbery. The incident is reported to have taken place at the Simply Delicious Food Market in Vernon, British Columbia. After the alarm was triggered, police were on the scene within 15 minutes; however, they just missed the escaping thieves. According to local reports, the thieves missed an opportunity to bag $50,000 that was in a separate canister inside the machine. –CASTANET       7. Morocco is planning to expand access to its financial services through the introduction of the blockchain within the country's financial sector. Speaking at the Africa Blockchain Summit in Morocco's capital Rabat, central bank governor Abdellatif Jouahri said that he hopes they can use fintech to improve Morocco's goals of giving "individuals and businesses" access to financial products and services "to promote economic and social inclusion." –MOROCCO WORLD NEWS       8. The European Commission and European Investment Fund (EIF) has unveiled a new scheme for artificial intelligence (AI) and blockchain development in Europe totaling $441 million. According to a blog post, around $110 million will be available to venture capital funds or other investors that support AI and blockchain-based products and services. A further $330 million is projected to be generated for AI and blockchain from private investors. –EUROPEAN INVESTMENT FUND/MEDIUM       9. Blockchain analytics firm Chainalysis has, reportedly, cut 39 jobs in a bid to boost its profits. As a result, the company has removed 20 percent of its workforce as it focuses on bringing products to market. Only 155 people remain at Chainalysis, and it's hoped that this smaller size will put the company on the "path to profitability," according to Maddie Kennedy, Chainalysis' director of communications. –COIN DESK       10. Crypto exchange Kraken has announced that it is introducing a mobile version of its Kraken Future trading app. According to a blog post, the company's app is now available to download on iOS and Android platforms, which will enable users to sign in with a QR code, see the live order book and price chart, initiate advanced order types, manage open positions and open orders, and view their account history. –KRAKEN BLOG       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter.

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