weekly roundup – Beijing Cracks Down on Crypto

Beijing cracks down on crypto

China is tightening its clampdown on cryptocurrencies, nearly a year after the government imposed a wide-ranging ban on the sector. Officials in an eastern district of Beijing have ordered stores, hotels and offices not to host any cryptocurrency-related speeches, events or activities. They also appealed for anyone noticing such activity to report it to the authorities. In a separate development, state media reports that China is moving to block access to 124 websites operated by offshore cryptocurrency exchanges that provide trading services to citizens on the mainland.

Cryptotrading firm rents world’s priciest offices

A cryptocurrency trading firm has rented the entire 45th floor of the Cheung Kong Center for a Hong Kong record of HK$225 ($28.66 USD) per square foot per month. BitMEX is taking nearly 20,000 square feet in Li Ka-shing’s skyscraper in Central, the city’s core financial district. That equates to $343.92 USD per year – leaving BitMEX with the world’s highest per square foot annual rent bill of $6.8 million USD. Average office rents in Hong Kong’s Central district could reach as high as US$307 per square foot this year, 30 per cent higher than the US$235 per square foot per year in London’s West End and almost 53 per cent higher than the US$201 per square foot in Beijing’s Financial Street, according to a report by CBRE.

Japanese company sells ‘flawless’ lab-grown diamonds using blockchain technology

“Flawless” lab-grown diamonds are up to 50pc cheaper and almost indistinguishable from the real thing. Now, one Japanese company is hoping to use blockchain technology in an effort to crack the consumer market. Pure Diamond Lab hopes that by by using the technology to allow consumers to track the exact origin and quality of its gems, it can garner trust among consumers who are increasingly wary about the history of their products. The business has also partnered with Pure Diamond Farm Singapore to launch a new cryptocurrency, Pure Diamond Coin. Proceeds raised will fund equipment, research and development.

Starting as an Independent Financial Advisor, Bridget pivoted her career to emerge as a pioneer in financial services social media. A founding director of Financial Social Media UK, Bridget has attracted multiple industry awards. Aware that technology marches forward no matter your view point on how it might disrupt incumbents in your market place, especially in traditional industries, Bridget vehemently believes that staying in front of technology is essential to survival and success. How you can harness these changes, rather than deny, impede and ultimately be left behind, is the key for best serving your clients and customers.