Summary:
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Huawei Cloud launches its blockchain-based service for users around the world
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G20 countries sign a declaration to regulate cryptocurrencies
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Bitcoin (BITCOIN on xStation5) struggles to hold around $4000
Cryptocurrencies have begun the new trading week on the wrong foot. However, in recent days a majority of them have managed to stop falling lately. Bitcoin (BITCOIN on xStation5) has lost around 3.5%, and Ethereum (ETHEREUM on xStation5) has experienced nearly a 3% decline so far today. The capitalization of the whole market is still hovering around $130 billion.
Bitcoin (BITCOIN on xStation5) struggles to stay around $4000. Source: xStation5
Huawei Cloud launches blockchain service outside China
Huawei Cloud officially launched its Blockchain Service (BCS) globally on November 15, according to the company’s press release. The company had launched BCS previously for commercial use only in China, but now it is available for also non-China customers. As the press release explains, “the service helps global enterprises and developers create, deploy, and manage blockchain applications quickly and at minimal cost on HUAWEI CLOUD”. Further, the company says that “using BCS, company can establish a blockchain system perfectly suited to its own business in just 5 to 10 minutes”.
Ethereum (ETHEREUM on xStation5) calmed down after a significant sell-off seen in the past days. Source: xStation5
G20 countries sign a declaration regulating virtual currencies
The G20 summit resulted in a widespread rally across stock markets as well as risky currencies but the topic related to the cryptocurrency market was also brought up. Namely, the G20 countries signed a joint declaration saying that “We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with Financial Action Task Force (FATF) standards, and we will consider other responses as needed.” On top of that they also added that the global economy needs to be constantly monitored as it is rapidly being digitised. The joint communique also said that the objective of the new framework is to identify any emerging financial stability concerns in a timely manner.
