Today’s cryptocurrency news is all about Asia.

First of all, today BTC price has fallen back, and now is making the final struggle far away from $6900. Once it fails, the market will continue to the bear market.

· Bank of the Philippines launches blockchain-based intercom system

According to Cryptovest, the Federal Bank of the Philippines (UBP), one of the earliest institutions in the domestic banking industry to adopt blockchain technology, announced on Wednesday that it has launched its first general circular (GCs) on its blockchain platform to provide more A cost-effective and faster way to communicate. UBP said the technology will allow employees in all branches of the Philippines to access internal communications and publish general announcements on a more secure and immutable platform.

· China Shenzhen Mutual Gold Association issued risk warnings to prevent illegal fund raising in the name of blockchain and virtual currency

According to Phoenix.com, the Shenzhen Internet Finance Association of China also called on all member units and practitioners to strictly abide by the regulations and consciously resist illegal financial services related to virtual currency and pseudo blockchain. He also pointed out that virtual currency is easy to become a tool for illegal crimes, and there are many illegal characteristics of such activities. Investors speculate that “virtual currency” is easy to lose the principal, and “virtual currency” is not legal tender.

· The Bank of India is studying the feasibility of introducing digital currency to cope with rising banknote management costs

According to the Times of India, the Central Bank of India (RBI) has formed an inter-departmental group to explore the introduction of rupee-backed digital currency, which, unlike USDT coin, is used to cope with the growing cost of banknote management. This is the first time the Reserve Bank of India has tried to use digital currency.