Monthly Archives: December 2020

FinCEN Proposes KYC For Withdrawing Cryptocurrency To Private Wallets

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has released a notice of proposed rulemaking that would require money services business to submit reports, keep records and verify the identity of customers as they relate to digital currencies “held in unhosted wallets … or held in wallets hosted in a jurisdiction identified by FinCEN.” FinCEN defined “unhosted wallets” as a “software program or written record” through which users store the private keys needed to access and exchange cryptocurrencies like bitcoin.  The proposed rule would, […]

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In 2020, Bitcoin Was Significantly Derisked

2020 was unforgettable, especially for Bitcoin. To help memorialize this year for our readers, we asked our network of contributors to reflect on Bitcoin’s price action, technological development, community growth and more in 2020, and to reflect on what all of this might mean for 2021. These writers responded with a collection of thoughtful and thought-provoking articles. Click here to read all of the stories from our 2020 End Of Year Series. In previous years, traditional investors and businesses had been averse to opening their arms (and […]

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It’s here: Treasury announces whitelist rules to shut off money to self-hosted wallets

Many have called the long-rumored rules an existential threat to peer-to-peer transactions. The Treasury has released its long-awaited proposal to restrict money services businesses, including U.S.-registered crypto exchanges, from dealing with self-hosted wallets. In a Friday evening announcement, the Treasury’s Financial Crimes Enforcement Network, or FinCEN, announced proposed rules requiring registered crypto exchanges to verify the “identity of their customers, if a counterparty uses an unhosted or otherwise covered wallet and the transaction is greater than $3,000.”  The rule is currently just a proposal. The Treasury has […]

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$1 Million Bitcoin Giveaway: Rapper Megan Thee Stallion Hands Out Free BTC on Twitter

American rapper and hip hop artist Megan Thee Stallion is giving away $1 million in bitcoin on Twitter to Cash App users. Thousands of people are participating and many claim to have already received some sats from the star. Megan Thee Stallion Giving Away Bitcoin Megan Thee Stallion, also known as Hot Girl Meg, announced on Twitter Thursday that she is giving away $1 million in bitcoin to Cash App users. “Thee Hot Girl coach is officially on team @Cashapp,” she wrote. “To celebrate I’m giving $1 […]

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Price analysis 12/18: BTC, ETH, XRP, LTC, BCH, LINK, ADA, DOT, BNB, XLM

A handful of altcoins look ready to move higher as Bitcoin price enters a short consolidation phase. Christopher Wood, the global head of equity strategy at Jefferies, has dumped five percent of their physical gold position in order to buy Bitcoin (BTC). This move shows that a growing number of institutional investors consider Bitcoin to be at par or a better store of value than gold. Wood also said that if Bitcoin were to have a big correction, he would buy more. The fact that institutional investors […]

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DeNations, a Blockchain-Powered Metaverse, Launches the First INO – Initial Nations Offering

PRESS RELEASE. Smatoos, which is already known in the blockchain industry as a token economy platform, has released the blockchain-based metaverse, DeNations. DeNations is a blockchain-based decentralized metaverse where anyone can manage nations, cities, and civilizations. Metaverse is a combination of ‘meta’, which means ‘beyond’, and ‘universe’, which means a virtual space that interacts with the real world, where people can engage in economic, cultural, and social activities. Currently, in the blockchain industry, services that gamify a metaverse such as Decentraland and Roblox have already been released. […]

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US Senator-elect rails against potential crypto wallet ruling

Rumored upcoming crypto wallet regulation gains further opposition, this time from Cynthia Lummis, a recently elected Wyoming senator. As per recent rumors, United States Secretary of the Treasury, Steven Mnuchin, could drop a stringent piece of crypto-related legislation before his expected exit at 2020’s end. The ruling could potentially severely limit or ban self-custodied digital asset wallets — a key component of the entire industry. Cynthia Lummis, a U.S. Senator-elect hailing from the crypto-friendly state of Wyoming, finds the fuling harmful.  “I spoke with Secretary Mnuchin last […]

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Think Bitcoin will hit $100K? These traders will take that bet

Bitcoin derivatives trading is on the rise; one platform is letting traders bet on a $100,000 BTC moonshot by Sept 2021. As of Thursday, Deribit users can bet on the flagship cryptocurrency reaching $100,000 via options contracts that expire on Sept. 24, 2021. The lofty strike price was established following a surge in daily trade volumes.  In options trading, a strike price is the value that a derivative contract can be bought or sold when it’s exercised.  Deribit processed 754,123 BTC options contracts in November, according to […]

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Bitcoin Addresses Holding $1 Million Goes ‘Parabolic,’ 10% of BTC Supply Sits Idle for 10 Years

While bitcoin trades above the $20k handle, onchain data shows that the number of bitcoin addresses holding at least $1 million has climbed substantially increasing by more than 150%. Moreover, Glassnode’s statistics indicate that roughly 1.85 million bitcoin hasn’t moved in over a decade. At the time of publication, bitcoin (BTC) is hovering just below the $23k handle as the price touched an all-time high at $23,777 the other day. Onchain data shows that the infamous bitcoin rich list has grown a great deal this week. On […]

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Record $6.5B Bitcoin options open interest follows BTC all-time high

Bitcoin options open interest reached a record-high $6.5 billion as investors continue to increase their optimistic long-term bets. The open interest on Bitcoin (BTC) options contracts has reached a new all-time high at $6.5 billion on Dec. 17. That figure represents a three-fold increase from 90 days ago and is proof that the market has grown significantly in the past 6-months.  Bitcoin options total open interest. Source: cryptorank.io Investors must keep in mind that even though a $6.5 billion open interest is an impressive number, it doesn’t […]

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