China

The Hong Kong Securities and Futures Commission (SFC) announced that it is preparing rules for the licensing of cryptocurrency exchanges and businesses.

The world of online gambling is growing faster every time. Statistics show that there are an estimated 1 billion online gamers around the world, with the largest numbers found in China, South Korea, and Japan. According to projections, the number of players will reach 1.3 billion in 2025.

The government of Kazakhstan is discussing ways to build new power plants to generate additional energy. With this move, the country aims to support the cryptocurrency mining industry.

Ukraine will use blockchain technology to track the supply chain of timber on international markets. It is thus the second country in the world, after China, to test this pilot initiative.

The Kazakhstan government is concerned about the growing number of underground cryptocurrency miners after restrictions were imposed in early October.

The impact of the cryptocurrency industry on the environment has become an issue of great concern. Some countries like China have even decided to restrict their activities like mining and transactions.

More than 20 cryptocurrency companies have announced they are leaving China after the government cracked down on the industry on September 24. This new wave of sanctions paves the way for the US to gain the upper hand in this sector.

Interest in CBDC is growing all over the world. While many countries, most notably China, are actively working on developing their digital coins, some other countries are just preparing to jump on the bandwagon. Recently, Georgia has decided to join the CBDC race.

The scrutiny that US regulators are imposing on cryptocurrency companies seems to be becoming a trend. Kraken is the latest company to run into trouble. The exchange had to pay a $1.25 fine for alleged illegal activity.