TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Shenzhen Stock Exchange launches blockchain index. Paraguay probes exchanges to apply FATF rules. Vitalik Buterin proposes a hybrid chain to hasten Ethereum 2.0 adoption. Government of China seizes 7K miners. American Cancer Society now takes cryptocurrency donations, and BTC halving could bring a mining disaster.
Shenzhen Stock Exchange Launches Blockchain Index
The Shenzhen Stock Exchange, one of the most important stock exchanges in China and the eighth largest exchange by trading volume, announced the launch of a new blockchain index to track the performance of 50 companies involved with the technology. The Shenzhen Stock Exchange also announced they will execute due diligence by making sure the companies listed use blockchain for their operations instead of just using the concept to capitalize on the hype.
Paraguay Probes Exchanges to Adopt FATF Rules
Paraguay called for a national survey of its cryptocurrency exchanges and service providers as a preparation to adopt FATF-like regulations. Cryptocurrency exchanges and service providers will have to show their finances and open their books to the government for audits. “Data obtained will be used to measure the degree of adoption, complexity and size of the virtual asset market in Paraguay, with the purpose of drafting a regulation,” said Christian Villanueva, AML Chief for the government.
Vitalik Buterin Makes Proposal to Hasten Ethereum 2.0 Upgrade
Vitalik Buterin, the Ethereum dev and co-founder, proposed to implement a hybrid system to hasten the integration of the new Ethereum 2.0 upgrade. According to Buterin’s idea, PoW and PoS chains could live together if some special validators (known as ETH1 validators) keep a full Ethereum 1 node. These validators then could introduce blocks of the old Ethereum chain in the new one. This, if implemented, will speed up integration of the two chains, a process that would take more time otherwise, according to Buterin.
Government of China Seizes 7K Crypto Miners
The Government of China seized 7,000 cryptocurrency mining machines operating illegally in the Kaiping District of Tangshan city. These machines were operated by stealing power from a nearby village 24 hours a day, inflating power consumption numbers for residents. This was the culmination of an investigation started last April when the State Electric Power Department and local police inspected 70,000 households. Illegal mining has become a problem for several countries due to higher rates of energy consumption.
American Cancer Society Now Accepts Cryptocurrency Donations
The American Cancer Society, a non-profit organization dedicated to the research of cancer, is accepting cryptocurrency donations. ACS is managing these donations through the popular cryptocurrency payment provider BitPay. “Cancer affects people from all walks of life, so it’s not surprising that we draw support from a broad cross-section of donors,” declared ACS exec Brant Woodward. “The reality is that more and more people are utilizing cryptocurrency. This allows us to be relevant with younger donors,” he concluded.
BTC Halving Could Have Devastating Effects on Miners
The BTC halving could have disastrous effects on mining if the so-called “halving pump” fails to materialize, according to an article published by LongHash. The reason lies in the constant increase of BTC hash rate that will increase the mining difficulty. This, and the halving of the mining rewards, could take profits as low as when BTC was traded at $3,600, hurting miners and mining hardware manufacturers as well.
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