Monthly Archives: October 2020

‘Crushing’ regulations could drive Ripple out of US

Ripple co-founder Chris Larsen said the firm is considering moving to the U.K., Switzerland, Singapore, or Japan. Ripple is considering relocating to Europe or Asia amid growing frustration at the lack of regulatory clarity in the United States. Speaking to Fortune Magazine’s Jeff John Roberts at the Oct. 6 LA Blockchain Summit, Ripple co-founder Chris Larsen said the United States was “woefully behind” in preparing for the cryptocurrency-based next generation of a global financial system. Coupled with U.S. authorities’ policy on “regulation through enforcement” and Ripple may […]

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3 key on-chain metrics point to a bullish reversal in Ethereum price

DeFi-tokens corrected heavily over the past 30-days but on-chain data suggest Ether is in the early stages of a bullish reversal. While Ether (ETH) price has been stuck between the $340-$350 range for the last month, multiple on-chain metrics suggest that a recovery may be building. Santiment, a cryptocurrency data analytics firm, recently noted that the number of deposits to exchanges has been decreasing since the start of September. According to the firm, the number of addresses used to send Ether to exchanges has seen a 53% […]

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Rep claims his firm was 8 years ahead of its time on DeFi

Timing is crucial. DeFi failed to catch on eight years ago, according to comments from Yoni Assia, founder and CEO of financial platform eToro. “I think that DeFi is super interesting,” Assia said on Oct. 6 during a panel on crypto exchanges and venture investments, as part of the LA Blockchain Summit. “We actually built a decentralized exchange back in 2012 based on the Colored Coin protocol we developed in eToro, which was tokenizing assets on top of the Bitcoin network, so this was really really premature — the […]

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EU removes this crypto hotspot from tax haven blacklist, clearing path for further adoption

Yet, the biggest crypto hub remains on the blacklist. The EU decided to remove Cayman Islands from its blacklist of tax heavens on Tuesday. The Cayman Islands is a popular jurisdiction for crypto businesses. It was added to the EU’s blacklist in February of this year, so it has spent fewer than six months on the list. In 2019, the six exchanges domiciled there were responsible for over $1.5 billion in international Bitcoin (BTC) transactions. Though these numbers pale in comparison to the global leader — the […]

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Regulation is coming to DeFi, but can it be enforced?

Is regulation plausible in a completely decentralized environment? Blockchain analytics company Coinfirm recently unveiled a new anti-money laundering tool for the decentralized finance, or DeFi, niche of the crypto space — a sector facing regulatory crackdown on the horizon, according to Jakub Fijolek, Coinfirm’s chief technology officer.  “DeFi might soon have some regulatory issues,” Fijolek told Cointelegraph in an interview. “The amount of funds that are flowing through DeFi is growing significantly.” The DeFi niche of crypto has ballooned in 2020. In February, the total value locked […]

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Trump delays stimulus, Bitcoin dumps shortly thereafter

Bitcoin’s correlation with traditional markets appears to continue. Back and forth discussions with regard to a second stimulus package for the people of the United States have been ongoing for months. Today, President Trump decided to push the matter back until after the 2020 presidential elections have concluded. This appears to have resulted in a price drop for Bitcoin (BTC) and other mainstream markets.  “Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related […]

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Crypto-friendly Commissioner Quintenz isn’t leaving the CFTC this month after all

In April, he said he’d by gone by Halloween, but the plan has changed pending action in the Senate. Among the leadership of the Commodity Futures Trading Commission, Brian Quintenz is known as one of the leading voices in favor of crypto. His announcement in April that he would only stay “until the earlier of the confirmation of my successor or October 31, 2020,” caused quite a stir among the crypto community. But now Quintenz says that he is staying on past that October 31 end date. […]

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Crypto exchange refuses to name names for Belarusian government

Kuna’s founder stated that the exchange does “not support violence” or “engage in dialogue with opponents.” Ukraine-based crypto exchange Kuna.io is refusing to provide personal information about individuals who could potentially be labeled as dissidents by the government of Belarus. According to an Oct. 5 Facebook post from Belarus Solidary Foundation, or BYSOL, founder Andrej Stryzhak, Kuna has stated it will not comply with an official request sent on Sept. 30 by Belarus’ Department of Financial Investigations, or FDI, under the country’s Committee of State Control. The […]

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UK Court Overturns Ruling on $1 Billion Venezuelan Gold at Bank of England

The UK Court of Appeal has overturned an earlier court ruling which denied Nicolas Maduro access to Venezuela’s gold worth about $1 billion kept at the Bank of England. The court did not recognize Maduro as the legitimate leader of Venezuela. Court Rules in Favor of Central Bank of Venezuela Over $1 Billion Gold The English Court of Appeal reportedly overturned an earlier High Court ruling Monday concerning Venezuela’s gold worth about $1 billion kept at the Bank of England. The Bank of England had denied Nicolas […]

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UK FCA derivatives ban signals disapproval of crypto as a whole, CoinShares exec says

The FCA covered everything it could with the ban, CoinShares’ Townsend Lansing says. Following the definitive ban of cryptocurrency derivatives in the United Kingdom, cryptocurrency companies in the country shared their thoughts on the matter with Cointelegraph. Among the most affected is CoinShares, a U.K. company known for providing cryptocurrency exchange-traded notes, or ETNs. Unlike exchange-traded funds, ETNs do not necessarily own the underlying asset and are instead a way of tracking the returns of a particular index. When they mature, holders pay or receive the difference […]

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