China News by Thebittimes.Com

Chainlink (LINK) co-founder Sergey Nazarov says major financial institutions around the world are primed to start utilizing his project soon. Nazarov notes in a new YouTube video that the decentralized oracle network is arriving at a point where financial institutions have been reaching out for help with various projects. “At this point, I’ve been – between last year and this year so far – almost everywhere. Last year, we covered a lot of Asia, the Middle East, Australia, many of the top environments where cryptocurrencies and blockchains are getting adopted. This year, with the new stance on regulation in the US, we are very heavily covering all of the US institutions in addition to continuing to cover those in Asia and the Middle East. So I can’t mention exact names, because they want to wait to announce, they have all these processes with NDAs (non-disclosure agreements). It’s a very tightly controlled process, but I would say between la...

At the Plan B Forum in Switzerland, Rikki and David from the Bitcoin Explorers Project shared their observations on cryptocurrency adoption in Turkey and Lebanon, countries currently grappling with severe inflation . Crypto in Turkey Rikki described the rampant inflation plaguing Turkey, with prices rising 60% annually, according to official statistics, and possibly more unofficially. He recounted seeing locals lining up to exchange Turkish lira for US dollars and gold to preserve their purchasing power. You might also like: Turkey sees rise in adult crypto investors, report reveals Rikki also showed images of Bitcoin ATMs and shops accepting cryptocurrency in Istanbul, evidence of growing Bitcoin (BTC) adoption. However, he noted usage may still be limited, as the Turkish government banned cryptocurrencies for payments in April 2021. Crypto in Lebanon The explorers then turned to Lebanon, where inflation has skyrocketed to over 250% amid a major economic crisis. Rikki...

The cryptocurrency markets are taking on the traditional financial sectors which include the stock markets, banks, and commodities, among others. While the United States and Europe are ahead in terms of crypto adoption despite fierce criticism, other countries are catching up. Dubai, the Middle East, and North Africa (MENA) are now the fastest-growing regions in the world adopting the use of cryptos. Middle Eastern countries namely Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Saudi Arabia, Oman, Lebonan, Qatar, and the United Aran Emirates are experiencing a surge in crypto transactions , reveals a report from Chainalysis. Also Read: Did GTA 6 Hacker Receive 2.2 Bitcoin’s to Leak the Game Source Code? On the other hand, North African countries namely Egypt, Libya, Morocco, and Tunisia, recorded a growing number of crypto transactions . The MENA countries combine more than 9% of all crypto transactions that were recorded between Q2 and Q3 of 2022. The combined MENA nations a...