Almost Official (Regulatory Digest, Feb 21—27)

Russia to associate crypto with money laundering, an oil-backed Russian coin initiative, USA to further handle blockchain, the skeptical as for innovations Ohio, South Africa reporting growth in banking sector, blockchain for deals in Spain, Seoul to back blockchain startups, +1 exchange bankrupt in South Korea, Turkish operator to use blockchain for data maintenance, Australian AUSTRAC to test blockchain for financial reports

We’re reviewing how [the program] might be either curtailed or might be expanded, and what our counter-party risk is with that vendor

Robert Sprague, Ohio State Treasurer

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China’s iPhone 11 Love Affair Could Send Apple Stock to New Highs

Analysts have expressed concerns towards declining sales of Apple products since early 2019, particularly after AAPL’s $44 billion sell-off last month. Its flagship iPhone 11, however, is selling unexpectedly well in China, which may be the catalyst Apple stock needed. Pinched by the U.S.-China Trade War, as well as shifting tastes among Chinese consumers towards […] The post China’s iPhone 11 Love Affair Could Send Apple Stock to New Highs appeared first on

Anyone with Capital One miles who's eyeing a trip to Australia might want to jump on the transfer bonus with Qantas that's happening right now

Some Capital One cards, including the Capital One® Venture® Rewards Credit Card and the Capital One® Spark® Miles for Business, earn miles that you can transfer to airline programs. The mileage transfer rate to these airline programs is either 2:1.5 or 2:1, depending on which program you're transferring to. The standard rate for transferring Capital One miles to the frequent flyer program of Australian airline Qantas is 2:1.5, but Capital One is currently running a 33.3% transfer bonus for transfers to Qantas.  Until October 31, your Capital One miles will transfer to Qantas at a 1:1 rate. In 2018, Capital One took a big step toward making its credit cards more competitive with options from Amex, Chase, and Citi: It added the ability to transfer miles to airline programs.  Previously, you couldn't redeem Capital One miles with airline partners; you could only use them to erase travel purchases from your credit card statement, to book travel directly through Capital One, or to purchase gift cards. The ability to transfer other rewards currencies like Amex Membership Rewards points and Chase Ultimate Rewards points to airline and hotel partners is what makes them so valuable, so this was a huge step toward making Capital One miles more flexible, and more useful. Capital One miles transfer to 15 airline programs, including Air Canada Aeroplan, Singapore Airlines KrisFlyer, and Qantas Frequent Flyer. Most transfers are at a ratio of 2 Capital One miles to 1.5 airline miles, though a few partners have a lower 2:1 ratio. Capital One Qantas transfer bonus details Occasionally, Capital One (along with other credit card issuers) runs transfer bonuses that give cardholders extra airline miles when they move over rewards to a specific frequent flyer program. Currently, it's offering one such bonus for transfers to Australian airline Qantas' loyalty program. Until October 31, when you transfer Capital One miles to Qantas, you'll receive a 33.3% bonus. This means that during the bonus period, the transfer rate for Qantas will effectively be 1:1. After the bonus ends, the transfer rate will go back to 2:1.5. Qantas' Frequent Flyer program isn't known for offering especially generous mileage rates, but if you have a lot of Capital One miles and are eyeing a trip to Australia, this transfer bonus will certainly stretch your rewards further. Plus, you can also transfer Amex and Citi points to Qantas, so if you come up short with Capital One miles but have points from a card like the Platinum Card® from American Express or the Citi Prestige® Card, you could make up the difference. How to earn Capital One miles You can earn Capital One miles with four credit cards:  Capital One Venture Rewards Credit Card ($95 annual fee; waived the first year) — Earn 10x miles on paid hotels booked through and 2x miles on everything else Capital One Spark Miles for Business ($95 annual fee; waived the first year) — Earn 2x miles on all purchases Capital One® VentureOne® Rewards Credit Card (no annual fee) — Earn 10x miles on paid hotels booked through and 1.25x miles on everything else Capital One® Spark® Miles Select for Business (no annual fee) — Earn 1.5x miles on all purchases More credit card coverage What's the best airline credit card? The best cash-back credit cards Southwest credit card review Best credit card reward programs Join the conversation about this story » NOW WATCH: The US women's national team dominates soccer, but here's why the US men's team sucks
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China’s Inner Mongolia to Drive Out Cryptocurrency Miners

Authorities in China’s autonomous region of Inner Mongolia released a notice requiring local cryptocurrency mining firms to stop their operations, according to ChainNews. Is Inner Mongolia Starting a Trend Among China’s Authorities? China has enjoyed that status of the world’s hub for cryptocurrency mining since it hosts a good share of crypto miners who’re looking for cheap electricity. Inner Mongolia has been among the Chinese regions where many mining firms chose to establish their operations. The coal-rich area allows miners to benefit from inexpensive electricity. Other regions, like Sichuan and Yunnan, are also attractive for miners as they have cheap hydroelectric power. However, now Inner Mongolia’s authorities are backpedaling on crypto mining. Five local departments, including the Financial Office, the Office of the Ministry of Industry, Development and Reform Commission, the Big Data Bureau, and the Public Security Department released a notice stating that cryptocurrency mining wasn’t helping the local economy at all, calling it a pseudo-financial innovation. The authorities decided to cease support for crypto miners even though some companies managed to reach exclusive agreements with municipalities. For example, Bitmain has an agreement with the authorities of Ordos to get even cheaper electricity. The decision of Inner Mongolia’s departments might point to the general attitude of China’s government towards mining operations. In April of this year, we reported that China’s National Development and Reform Commission (NDRC) had revealed its plan to eliminate Bitcoin mining within the country. The chances are that the process starts with Inner Mongolia. Mining Crackdown to Be Carried Out in 2 Phases The strategy to drive out crypto miners will have two separate phases. The first phase, planned for the period from September 3 to September 25, 2019, the region’s cities will examine the situation and will self-report. They will provide feedback to the region’s Ministry of Industry and Information Technology before September 30. The second phase starts on October 10 and continues until the end of the month. Inner Mongolia’s departments will form a joint inspection team to conduct supervision and report on the rectification. Do you think Inner Mongolia’s decision will have a serious impact on crypto mining in China? Share your thoughts in the comments section!  Images via Shutterstock The post China’s Inner Mongolia to Drive Out Cryptocurrency Miners appeared first on

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