Bitcoin drops as China renews crackdown on cryptocurrency: Bitcoin drops as China renews crackdown on cryptocurrency. Bitcoin fell to the lowest level in more than a month after a report that Chinese regulators are cracking down again on the cryptocurrency, targeting mobile apps and online platforms used for trading. South Korea’s government is also debating how to contain the mania in digital assets after raiding two exchanges last week. Losses were spreading to dozens of other cryptoassets, with ethereum declining 19% and ripple plummeting 29%, according to Coinmarketcap.com. Bitcoin dropped below $12,012.50 today, the lowest since Dec. 5, according to Coindesk prices. The Chinese government plans to block domestic access to local and offshore platforms that provide centralized trading, according to Bloomberg, citing unidentified sources. Officials are also targeting people who provide trading services like market making (providing bids and offers) and other market infrastructure, while smaller transactions between individuals may be permitted. China’s crackdown started last year. It began by banning initial coin offerings (ICOs), which meld aspects of crowd funding and virtual currencies. Then it targeted local exchanges, telling them to halt trading in digital assets. More recently, authorities have looked to discourage bitcoin mining.
A foodstuff seller, Chidi Ibiam, 27, was yesterday sentenced to 21 years imprisonment by an Ikeja High Court for defiling a six-year-old girl. They worship in the same church. The presiding judge, Justice Sedoten Ogunsanya, found the convict who lives at Baruwa, Ipaja area of Lagos, guilty of one-count charge of defilement. The judge held: “I have noted all the relevant facts of this case before me. The defendant is, hereby, found guilty of the crime of defilement and is sentenced to 21 years in prison.” During the trial, the prosecution, led by state counsel, Mr Adebayo Haroun, had told the court that Ibiam committed the offence on December 15, 2012, and was caught after the victim reported the assault to her mother. According to the prosecution, the convict is well known to the victim’s family as he was a neighbour and fellow church member. Testifying before the judge, the six-year-old girl (names withheld), had told the court that the defendant had unlawful carnal kno
Comments
Post a Comment