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Penalties imposed on major exchanges underscore  perceptions that bitcoin requires heavy regulation and oversight. Across China, blockchain technology is recognized as an increasingly important development; however, bitcoin as a “virtual good” in China is facing yet another challenge from the People’s Bank of China (PBOC). On May 10, 2017, China’s top-tier financial media outlet,  Caixin , reported that “according to a person close to PBOC, PBOC will soon issue a notice of penalties to BTCC, OKCoin and Huobi for irregularities based on its previous inspection in the past few months. The major problems are [related to] illegal margin trading services and lack of internal controls for anti-money laundering. The related penalty details have already been confirmed internally; all that is left to do is go through approval procedures.” Caixin also stated that, according to their source, further “regulation on bitcoin exchange and regulation on anti-money laundering systems for b...

by  Matt Prior Shall we talk about The Donald? We should, given that one of the first things he did as president of the United States was to order the deletion of the ‘climate’ section from the White House website. His vision of the US’s energy future is, to put it mildly, rather different from that of Barack Obama and could have far-reaching implications for the car industry. Could, but won’t. The Obama administration said its Climate Action Plan would “help prepare for the impacts of climate change and lead international efforts to address climate change”. But on the web page where those statements were published now sits the equivalent of a TV test card. President Trump is, the White House says, “committed to eliminating harmful and unnecessary policies like the Climate Action Plan”. He is “committed to clean coal technology” and will “refocus the Environmental Protection Agency” away from climate and toward “its mission of protecting our air and water”. Trump’s ene...