Metamask Android Client Banned, Bahamas Tests Digital Dollar, Canaan 5nm Miners Ready to Ship

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Metamask Android client banned from Google Play Store. Beijing warns firms to not conduct crypto business. Bahamas will test digital dollar. Canaan will enter the 5nm miner fight next year, and the Korean Central Bank will create virtual currency task force.

Metamask Android Client Banned From Play Store

Google retired the Android client of Metamask, an Ethereum dApp browser, from the Play Store, citing it was a cryptocurrency mining app. The Metamask dev team appealed the decision and it was rejected again under the premises the app was conducting mining in mobile devices. This is not the first time this has happened: during July 2018, Metamask was also delisted from the Chrome Web Store without justification. It is unclear if this has any relation with the YouTube crypto video purge Google conducted this week.

Beijing Warns Firms to Not Conduct Crypto Businesses

Metamask

Several authorities of the government of Beijing warned institutions and companies to not conduct business involving cryptocurrencies, according to a joint notice published by the Beijing Local Financial Supervision and Administration Bureau, the Business Management Department of the People’s Bank of China, the Beijing Banking and Insurance Regulatory Bureau, among other local institutions.

Bahamas to Test Digital Dollar

Metamask

The Central Bank of The Bahamas will test a digital version of its fiat currency, the Bahamian dollar, as a part of a project to modernize its payment system. The currency, called by the Central Bank “Sand Dollar,” will be tested first in Exuma, a district in of the country notable for showing a high degree of mobile phone penetration that would suggest a higher acceptance for these kinds of digital payments. Also, the government of Bahamas will advance regulations to strengthen financial solidity around this new system.

Canaan to Enter the 5nm Mining Fight

Metamask

Canaan, the cryptocurrency mining firm that went public not so long ago, announced they will have 5nm miners ready to ship for the first quarter of 2020. Canaan is playing catch-up with Bitmain, the leader of the segment, who has already conducted a successful test of this new technology for producing chips. The 5nm technology will allow for higher hash rate mining ASICs with more energy efficiency. The Bitcoin mining manufacturers are seeking to capitalize on the demand for hash rate before the halving next year.

Korean Central Bank to Create Digital Currency Task Force

The Central Bank of Korea will hire additional currency experts to create a Central Bank Digital Currency research task force, according a report called “Monetary Policy for 2020.” The report states it “will continue to build on the research into new innovations such as distributed ledger technology, crypto assets, and CBDC, and play an active role as
overseer to enhance security of the settlement systems.” It will also discuss efforts with the Bank of International Settlements to watch foreign digital currency developments.

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