Crypto Daily: China’s Economic Planning Body Labels Bitcoin Mining an ‘Undesirable’ Industry; Opera Releases New Browser With Built-In Crypto Wallet and Web 3.0 Explorer

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【Coindesk】A Chinese central government agency in charge of formulating macroeconomic policies is labeling bitcoin mining as an “undesirable” industry in a draft proposal, recommending local governments to eliminate the sector in the country.

China’s National Development and Reform Commission (NDRC) published a draft proposal on Monday for revising the existing Catalog for Guiding Industry Restructuring, which lists out industry activities that the agency suggests to encourage, restrict and discontinue.

The to-be-revised catalog, while still pending public feedback before taking into effect, categorizes bitcoin mining as an industrial sector that is undesirable and thus should be discontinued in the country’s future development, together with a list of other sectors that either has low and obsolete productivity or result in heavy pollution.

【Cointelegraph】Major web browser Opera is releasing a new browser with a built-in cryptocurrency wallet. The development was announced in a press release shared with Cointelegraph on April 9.

Opera’s new browser Opera 60 (codenamed Reborn 3) features a native cryptocurrency dubbed Opera Wallet and a Web 3 explorer, which enables users to conduct transactions and interact with the blockchain-based internet, also known as Web 3. The browser also provides a virtual private network (VPN) feature in a bid to enhance users’ privacy and security.

The Opera Wallet purportedly synchronizes with the cryptocurrency wallet in the Opera browser for smartphones, so that wallet keys never leave the users’ smartphones. The release further explains:

“In practice, whenever they need to identify themselves to a Web 3 website or sign a transaction on the blockchain, users get a notification on their smartphone. They can confirm it in the same way they unlock their system, using, for example, facial recognition or their fingerprint.”

Opera first announced the addition of a built-in cryptocurrency wallet to its Android browser back in July 2018. Product manager Charles Hame said then that “our hope is that this will accelerate the transition of cryptocurrencies from speculation and investment to being used for actual payments and transactions in our users’ daily lives.

NYT Reporter: Facebook Seeking $1 Bln in Venture Capital for Crypto Project

【Cointelegraph】Facebook is reportedly seeking support from various venture capital (VC) firms to develop its supposed digital token, New York Times (NYT) tech reporter Nathaniel Popper tweeted on April 8.

Citing sources familiar with the matter, Popper states that Facebook is seeking a $1 billion sum to develop its cryptocurrency project. He states that seeking outside investment could keep the project more in line with the crypto community’s decentralized ethos:

“Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook.”

Popper added that the reported project is a stablecoin that would be pegged to a basket of foreign currencies held in bank accounts.

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