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ENERGY & OFFSHORE, FINANCIAL SERVICES, INFORMATION TECHNOLOGY | Staff Reporter, Singapore
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Daily Briefing: Bitcoin tumbles and Air India's data privacy nosedives

And US President Joe Biden’s solar power plans hit a snag with labor complaints against China.

From Reuters:

Several crytocurrency miners have ceased their operations in China after Beijing intensified a crackdown on bitcoin mining and trading. The crackdown was a part of the Chinese government’s efforts to fend off financial risks, and is the first time it has hit virual currency mining.

Bitcoin took a beating, down nearly 50% from its all time high soonafter, as China accounts for as much as 70% of the world’s cryptocurrency supply.

Read more here.

From AP News:

Air India announced that the personal data of an unspecified number of travelers has been compromised following a hacking incident.

According to a statement from India’s flag carrier, the hackers were able to access 10 years’ worth of data, including the names, passports, and credit card details from the Atlanta-based SITA Passenger system.

The breach happened late February, and has also compromised data from Singapore Airlines, New Zeland Air, and Lufthansa.

Read more here.

From AP News:

US President Joe Biden wants America to have a “carbon pollution-free power sector” by 2035. However, his plans hit a snag as complaints come in about the main source of raw materials for the photovolactic cells for solar panels.

The global industry gets 45% of its polysilicon from Xinjiang, a northwestern Chinese region where the ruling Communist Party faces accusations of mass incarceration of predominantly Muslim ethnic groups, such as the Uyghurs, and other abuses. Chinese officials have rejected these accusations, and say that the people are in camps for job training aimed at economic development and deterring radicalism.

John Kerry, Biden’s envoy for climate matters, said Washington is deciding whether or not it should allow solar products from Xinjiang in US markets.

Read more here.

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