Chinese police expanded to monitor international cryptocurrency activity

This falls in line with the efforts of Chinese government to provide regulation and security
01 March 2018   725

It is reported today that China Police Force from recently includes a special unit for monitoring foreign virtual currency operations along with domestic platforms that have moved out of China. This and numerous other measures (ICO ban, blockchain patents, own cryptocurrency, decentralization of crypto trading,etc.) all aim to counter illegal financial activity like money laundering, pyramid schemes and investment fraud.

The situation came to this because after all the anti-crypto and anti-ICO measures, organizers and exchanges have decided to move overseas, outside of the jurisdiction of Chinese government. Some domestic enterprises and individuals evaded the regulation and set up exchanges outside China, moving their servers offshore or registering companies overseas.

Yet, China's National Internet Finance Association under Central Bank reported that such transition to foreign platforms didn't stop domestic investors from accessing them. This poses a formidable risk associated with global digital currency activities, especially that of being involved in pyramid schemes, as reported earlier by Chinese Ministry of Public Security. The most effective way of countering such behaviour is to be able to freeze trading accounts by means of banks.

Bitfury to Represent Bitcoin Mining Optimization Chip

The product is called Bitfury Clarke ASIC and it's based on five successful generations of mining chips
20 September 2018   131

Bitfury Group introduced a new generation of hardware for bitcoin mining under the control of the integrated microcircuit Bitfury Clarke ASIC.

Five successful generations of Bitfury mining chips are the basis for new Bitfury Clarke ASIC. According to the developers, the new chip has the highest performance characteristics among the bitcoin mining hardware.

14nm Bitfury Clarke ASIC is fully optimized for Bitcoin Mining on SHA256. The hashing capacity is up to 120 Gigahets per second (GH / s) with energy costs of only 55 miljoules per gigahash (mJ / GH). The minimum required mains voltage is 0.3 V.

In addition to selling Bitfury Clarke chips, Bitfury also integrates Bitfury Clarke into other hardware, including its own servers for mining and BlockBoxes, as well as in the mining centers in Canada, Norway, Iceland and Georgia.