Category Archives: Cryptocurrency
Cryptocurrency and Remittance: The Case of Mexico – Crypto Education – Altcoin Buzz
In recent years, cryptocurrency and blockchain have become widely popular. Besides, the new technology has managed to gain global awareness and secure various use cases.
One major sphere that has been greatly affected by the digital asset space is remittance. Alongside Coincenter, we will be taking a cursory look at the Mexican community and their dealings with digital currencies.
One of the worlds largest remittance corridors is located between the United States and Mexico. As of 2018, Mexico receives over $35 billion from the remittance inflows of migrants, who send moneyvia wire transfers. Currently, it accounts for about 96% of the total global remittances.
Executing these transfers is, however, both complex and expensive. On a universal scale, the average cost of a $200 remittance is about seven percent. Currently, the cheapest region for accepting money is South Asia (5.2%). While Sub-Saharan Africa is the highest (9%). Apart from the outrageous prices, even more depressing is the time it takes for these payments to get to their final destination. The emergence of digital currencies has ameliorated the state of affairs.
Using Mexico as an example we will understand how important cryptocurrency is to remittance.
Top of the list is the fact that crypto-based remittances arrive about 15 days earlier than normal wire transfers.
According to a June 2019 report by the World Bank, crypto-based cross-border transaction is currently ranked as the most affordable means for remittance transactions. With an average cost of about 4.88%.
It is a well-known fact that this money helps improve the living standard of many Mexican families. However, about 56% of Mexicans are unbanked, which means that its difficult for them to receive the money.Enabling massive cost reduction and fast receipt of funds is one of the ways by which the cryptocurrencies are helping to solve this issue.
Cryptocurrency is an amazing technology with many benefits. Dash recently partnered with Cubobit to launch Remezaza a remittance platform. Ripple also partnered with SCB to facilitate faster cross-border transactions.
All in all, it is a good thing that global crypto adoption is happening. Many countries have decided to welcome this technology. That said, for Mexicans, crypto is even more important. For them, its asafe haven when it comes to remittance services.
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Cryptocurrency and Remittance: The Case of Mexico - Crypto Education - Altcoin Buzz
$1.4B in illicit Bitcoin was laundered via Binance and Huobi last year, report says – The Next Web
Blockchain researchers traced $2.8 billion in illicit Bitcoin BTC believed to be laundered on cryptocurrency exchanges in 2019 with over 50 percent ($1.4B) washed through major trading hubs Binance and Huobi.
Binance and Huobi lead all exchanges in illicit Bitcoin received by a significant margin, said cryptocurrency analysis unit Chainalysis. That may come as a surprise given that Binance and Huobi are two of the largest exchanges operating, and are subject to KYC regulations.
[Read:Greece suspends extradition of alleged launderer for Bitcoin stolen from Mt Gox]
Chainalysis found more than 300,000 individual accounts on those exchanges had touchedBitcoin sent from criminal sources last year, and manually identified a list of the top 100 rogue over-the-counter (OTC) cryptocurrency brokers they believe to be money launderers.
[] A small segment of these accounts is extremely active. The 2,196 accounts in the three highest-receiving buckets received a total of nearly $27.8 billion worth of Bitcoin in 2019, said the firm.
The amount of illicit cryptocurrency touched by the Rogue 100 is no joke: they reportedlyreceived more than $3 billion worth of Bitcoin in 2019, and accounted for as much as 1 percent of all Bitcoin activity in any given month.
OTC brokers serve as middle men for those looking to transact away from public exchanges. They typically facilitate clients by negotiating trades for larger amounts of cryptocurrency for set price.
Chainalysis described OTC brokers as a crucial source of liquidity in the cryptocurrency market, citing evidence provided by data firm Kaiko that estimates theyre actually involved in the majority ofall cryptocurrency trade volume.
Theres a multitude of reasons for enlisting OTC brokers, many legitimate. Market makers andwhales with fat stacks of digital cashoften trade in this way to avoid influencing the overall cryptocurrency market with their big movements.
Some OTC brokers specialize in laundering money for criminals drawn to their services as they can have much lower know-your-customer requirements than online exchanges, Chainalysis explained.
Seventy of the top 100 addresses linked to OTC brokers laundered Bitcoin exclusively though Huobi. In total, those 70 brokers reportedly received more than $194 million from criminal entities last year.
Researchers however posited it could be possible that some had additional accounts on Binance or other exchanges.
Keep in mind, the Rogue 100 only represents OTC brokers weve manually identified as money launderers over the course of our investigations on behalf of Chainalysis clients, said the firm. We think its extremely likely that some percentage of the other highly-active Binance and Huobi accounts taking in illicit funds also belong to corrupt OTC brokers weve yet to identify.
Last month, Hard Fork reported thatPlusToken, a Chinese Ponzi scheme worth some $2.6 billion, may have been responsible for keeping the Bitcoins price down. Chainalysis noted that many of theRogue 100played a substantial role in the scam.
As for what Binance is doing to mitigate exposure to money-laundering OTC brokers, spokesperson assured the firm that it was aware of the growing trend and movements of illicit funds, and that its platform is compliant with KYC requirements in each jurisdiction in which it operates.
While Chainalysis did clarify that criminally-connected cryptocurrency represents a small fraction of total amountreceived by Binance and Huobi, the amount is still significant, with thetop 31 suspicious accounts alone exposed to more than $163 million in Bitcoin linked to dodgy sources.
Published January 16, 2020 14:00 UTC
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$1.4B in illicit Bitcoin was laundered via Binance and Huobi last year, report says - The Next Web
Ethereum (ETH) – Based Cryptocurrency Tested By The Reserve Bank of Australia as Payment Tool – U.Today
The Reserve Bank of Australia was among the first national central financial institutions to start its own blockchain research & development labs. It looks like they are ready to deliver something.
In 2020, central banks' digital currencies or CBDCs will be the holy grail of the financial world. Australia supports this trend and has revealed its experiments with regulated cryptocurrency. It has been disclosed that the RBA isconducting sophisticated trials to test whethercentral bank-issued digital currencies can play a useful role in the payment settlement system.
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In the document that wasrecently sent by the RBA to the Australian Senate, the system is called a'private, permissioned Ethereum network'. That could mean that the basic token of the Australian CBDC system will be issued in compliance with the ERC (Ethereum Request For Comment) standard.
Also, the document disclosed the up-to-date status of the RBA-driven research. Three main use-cases for Ethereum-based CBDC are named:
Furthermore, the RBA announced its planto extend this research over the coming year. So, the public testnet of the Australian government-backed stablecoin may beright around the corner.
What do you think, will this coin be issued in 2020? Share your predictions with us in the Comments section!
How to minimize the cryptocurrency tax burden this tax season – Canadian Lawyer Magazine
What is more advantageous from a tax point of view is to have capital treatments, Rotfleisch explains. But you have a risk of the CRA saying, no, this is not capital, this is income, you've got twice the tax liability of what you reported, and we're going to hit you with gross negligence penalties.
As business income is fully taxable while only 50 per cent of capital gains are, he dives into clients cryptocurrency earnings and clarifies what looks like the former and what is defensible as the latter. He builds in a series of memos defending the capital gains claims in case the CRA comes calling.
Absent our analysis, the CRA would come in and take a look at the whole portfolio, Rotfleisch said. They would see some you bought some Bitcoin yesterday, you sold it today. One clear income account and they're going to [tax] everything as an income account. They're not going to go into detail.
Cryptocurrencies (or cryptos) are digital assets, designed to function as a decentralized medium of exchange protected by cryptography rather than a state guarantee. More than 2,000 different cryptos exist, including Bitcoin, Ethereum, Ripple and Litecoin. In late 2017 Bitcoin, which Rotfleisch says is a consistent indicator of overall cryptocurrency value, peaked at around US$20,000. It has since fallen to around US$10,000 but remains volatile.
The CRAs guidelines for cryptocurrency taxation emanate from a key premise: cryptos are a commodity, not money. Rotfleisch accepts this is fair. Cryptos like Bitcoin often behave more like gold, with wildly fluctuating values, and still arent widely acceptable as a medium of exchange. Though that is changing slowly, for the moment he thinks its not worth challenging the CRAs base premise, which leaves smart filing as the best means for a tax lawyer to protect their client.
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How to minimize the cryptocurrency tax burden this tax season - Canadian Lawyer Magazine
The future of cryptocurrency – Lexology
Take a closer look at Lexology PRO, our premium service which delivers high-value, must read content, hand-picked by our experts. Dive deeper into issues that matter to you and build cross-border comparison reports to quickly get the answers you need.
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The future of cryptocurrency
2019 demonstrated that there is clearly agrowing appetite for cryptocurrencieswith Bitcoin reaching $1bn in cumulative transaction fees on its eleventh anniversary as the worlds first cryptocurrency.
Facebooks newly announced virtual currency Libra has caused a storm of inquiries and concern amongst regulators globally. Its important to understandthe challenges posed by this audacious new digital currency. Will this bethe currency of the future or could it be considered a modern day cartel?
What are the tax implications of cryptocurrencies? Find out what tax authorities in theUSAand theUKare saying.
There is no doubt that cryptocurrencies will continue to develop and grow in 2020, but this will bring more uncertainty for regulators and for businesses worldwide.
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The future of cryptocurrency - Lexology
Analyst: Bitcoin Will Skyrocket to $100,000 in 24 Months and Theres Nothing You Can Do About It – CCN.com
Bitcoins recent bullish price action is giving new life to crypto enthusiasts. The crypto token is up over 12% year-to-date. While the gains are not as impressive as they sound, the technical ramifications of bitcoin trading above $8,000 is whats important. To many bulls, this is an indication that the king of cryptocurrencies has already bottomed out.
As bulls come out of hibernation, there are those who are giving their fearless forecasts on how high bitcoin will fare in the next few years. Some are sharing conservative targets around $12,000 by the end of 2020. Then, theres one trader who believes that bitcoin will soar to $100,000 in 24 months.
Do you think that bitcoin can surge over 1,130% in the next two years? Whether you believe its possible or not, it doesnt matter according to trader Bitcoin Macro. The position trader took to Twitter to share his ultra bullish prediction on the top cryptocurrency. The analyst boldly said that the coin will breach $100,000 in a couple of years.
Many of his followers were quick to dismiss his forecast. User Don Barafranca replied that Bitcoin Macro is not thinking straight.
Others gave Bitcoin Macro the benefit of the doubt. They wished that the analyst supported his outrageous call with facts or analysis.
If you look at the historical performance of bitcoin after every halving, you would realize that Bitcoin Macros prediction is not so far-fetched. The top cryptocurrency rose from $12.31 at the price of the first halving to $994.21 at the all-time high of the reward era. At the time, the cryptocurrency surged 7,976%.
Furthermore, bitcoin stunned critics and naysayers as it catapulted from $650.63 to an all-time high of $19,535.70 after the second halving. Gains of more than 1,130% is within the realm of possibility.
Analyst dave the wave also believes that the cryptocurrency will move above $100,000 in the coming years. Even if the law of diminishing returns kicks in, the cryptocurrency would still ignite a face-melting bull run.
While bitcoin looks bullish, some top names in the industry are keeping their expectations conservative. Mike Novogratz, chief executive of crypto investment firm Galaxy Digital, predicts that bitcoin will end 2020 at $12,000. Fundstrat founder Thomas Lee says that the cryptocurrency will likely generate gains above 100% this year.
Only in bitcoin will you hear possible gains of 100% and people still call it conservative. The historical performance of the number one cryptocurrency has captured the imagination of both investors and speculators. Whether it goes above $100,000 or not, theres likely a possibility of raking in profits in the next few years. Of course, thats a classic high-risk, high-reward tradeoff.
Disclaimer: The above should not be considered trading advice from CCN. The writer owns bitcoin and other cryptocurrencies. He holds investment positions in the coins but does not engage in short-term or day-trading.
This article was edited by Sam Bourgi.
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Analyst: Bitcoin Will Skyrocket to $100,000 in 24 Months and Theres Nothing You Can Do About It - CCN.com
Cryptocurrency Slowly Recovers as Buyers Fail to Emerge – Coin Idol
Jan 13, 2020 at 08:58 // News
This week Monero and Bitcoin SV are performing creditably as the coins are trading above the EMAs. In their respective moves, the coins are facing resistance at a higher price level. This is largely due to a lack of buying power to push the coin upward. Maker is the only coin that had been in a sideways move since April. Lastly, Stellar and Binance Coin's selling pressure has overdone.
The erstwhile bear market of Monero is presumed to have been terminated. On January 3, the resistance line was breached and the price closed over it. This signifies that the downtrend has been terminated. Monero has already resumed an upward move. It is below the resistance at $60 as the bulls fail to break over it.
The pair has long been in a downtrend and selling pressure has been overdone. At the $0.043 low, bulls are supposed to take possession of the price. Insufficient buyers at the lower levels of price have caused the inability of price upward movement. Nonetheless, XLM had been consolidating over $0.043low since December 17. XLM will retest the $0.06 resistance if the EMAs are breached. Presently, the Fibonacci indicates that XLM ought to have been reversed at the 1.272 extension level.
Maker had been in a sideways move since April 2019. At present, it is fluctuating between $400 and $700. Interestingly, the bears still have an upper hand as Maker trades beneath $500. Maker is currently at the overbought area of the daily stochastic. It shows that Maker is in bullish momentum. When a price is in the overbought region the bears are likely to come in. Maker is relatively stable and relevant for position traders.
Bitcoin SV had reversed since October 2019 after the downtrend line was breached.
The uptrend has been hampered by insufficient buyers at a higher price level. Recently, BSV made remarkable moves which earned it a price of $180. Regrettably, BSV drops again and fluctuates between $140 and $180. Nonetheless, if BSV had gotten the initial success over $180 resistance, BSV would have been out of the downtrend zone. Possibly a retest is likely as the market makes another move at $180.
Binance Coin is still in a bear market that began in July 2019. BNB had its last bearish impulse on December 17, at $12 low. BNB is making encouraging moves as it breaks over the EMAs.
The coin is rising and may break the resistance at $16. We expect that BNB will above $20 if the bulls are successful. Hopefully, we will assume that the pair is out of the bear market.
Meanwhile, Binance Coin is above 60% range of the daily stochastic signifying BNB is rising.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.
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Cryptocurrency Slowly Recovers as Buyers Fail to Emerge - Coin Idol
Cryptocurrency Has Earned Its Place as a Safe Haven – Investorplace.com
The true test of any asset class comes not during good times but during tumultuous times. Its easy to root for an investment when the world is peaceful, but life has its ups and downs. This applies to cryptocurrency just as much as any asset class. How will Bitcoin and other digital assets behave when the peace is threatened?
Source: Shutterstock
Unfortunately, theres no easy answer to this question; after all, Bitcoin, the original cryptocurrency, has only been around since 2009. Thats when the mysterious Satoshi Nakamoto created the code for the digital ledger on which Bitcoin is built and maintained. It also happens to be the year when the U.S. stock market bottomed out.
There hasnt been a sustained financial crisis since Bitcoins creation. Therefore, it could be claimed that Bitcoin and other cryptocurrencies havent really been put to the test. There was, however, a recent mini-shock that tested out cryptocurrencys ability to function as a safe haven.
It didnt last long, but I believe that after the dust settled, Bitcoin emerged stronger than ever and convincingly demonstrated it has what it takes to serve investors as not just a vehicle of speculation, but a financial safety net.
The evening of Jan. 7 brought back feelings of fear and uncertainly the global markets hadnt experienced in quite a while. Everywhere you looked among financial headlines and social media, you could feel a sense of panic developing.
Iran had just reportedly fired over a dozen missiles at multiple U.S. military air bases located in Iraq, and there were concerns that American service members might have been harmed in the attack. Secretary of Defense Mark Esper ominously stated, We are not looking to start a war with Iran, but we are prepared to finish one.
The series of missile attacks, it seemed, were a retaliatory act against the United States killing a top Iranian general. President Donald Trump raised the stakes and the tension by hinting at the possibility of retaliation, tweeting that he was looking at 52 potential targets very important to Iran & the Iranian culture.
While we now know in hindsight that the threat of full-scale war fizzled out within a couple of days, lets not forget how scary it was in the moment. Sure, there have been trade wars and currency wars since Trumps election, along with multiple rounds of political posturing between Trump and North Korean leader Kim Jong-un. Yet, this marked the first time that Trump possibly had to respond to the killing of American military forces and the first time in years that the American markets had really felt the shock waves of potential wartime conflict.
Futures for the S&P 500, Dow Jones Industrial Average, and NASDAQ all fell sharply upon the news of the missile attack. Due to the Middle East connection, WTI crude oil futures increased in price, reaching around $65.50 at one point. Established safe havens gold and silver also increased in value, as one might expect during such a time of conflict and uncertainty. The true standout in the financial markets, though, was cryptocurrency but not every cryptocurrency, as one well-known digital coin truly outshone the rest.
Much to the surprise of the financial peanut gallery on social media, Bitcoin touched its highest price of the year so far. Amid all the turmoil and confusion, at one point in time it managed to reach $8,438. This represented a 24-hour price gain of more than 6%; in other words, Bitcoin actually managed to outperform oil during a crisis in the Middle East.
To be honest, other cryptocurrencies simply didnt measure up. During those same 24 hours, Ethereum (ETH) was basically flat and Ripple (XRP) actually declined by 3.5%. Other popular cryptocurrencies had mixed results during this tumultuous time; among the most famous cryptos, however, Bitcoin was the clear winner.
Digital Asset Capital Managements head of trading, Joshua Green, asserted that Bitcoins price performance was a response to these geopolitical events. I tend to agree with this assessment of Bitcoins price action throughout that unsettling time: when it came time for traders to hide out in alternative assets, Bitcoin was an obvious choice.
It also helps that Bitcoin trades 24 hours a day, seven days a week. Its also tradable on every continent in the world, making Bitcoin a convenient place to store assets when market volatility erupts. Besides, most people dont have a futures trading account, and I dont see that changing anytime soon because futures trading is relatively complex.
Meanwhile, more people are learning how to trade cryptocurrency, and Bitcoins brand-name recognition remains unrivaled in the domain of blockchain-based assets.
This is just one incident and we cant form any major conclusions yet. Still, its encouraging to see Bitcoin do well in these circumstances, even if the broader cryptocurrency market lagged somewhat.
Hopefully Bitcoin will maintain its value the next time its put to the test as a safe-haven asset. But in this instance, at least, Bitcoin passed with flying colors.
As of this writing, David Moadel did not hold a position in any of the aforementioned securities.
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Cryptocurrency Has Earned Its Place as a Safe Haven - Investorplace.com
eToro CEO On Bitcoin Dominance in the Cryptocurrency Market – The Coin Republic
Steve Anderrson Monday, 13 January 2020, 13:19 EST Modified date: Monday, 13 January 2020, 13:20 EST
Bitcoins market presence and value have been on a definite rise in these early days of 2020. The price increased 11% within the first week of the year and then fell to $7,900 on January 9, but not before peaking at about $8,400 on January 8, a high that hadnt seen since November 2019.
The growing influence and value of cryptocurrencies have brought in significant changes to the Israeli trading platform eToro. The company has managed an investment social network since 2007 and its cryptocurrency exchange division eToroX since 2019.
Cryptocurrencies alone have accounted for 20% of their total trading volume through eToroX.eToro CEO Yoni Assia said that eToro provides a social network for investors to see what assets are invested in, whether it be indices, stocks, or cryptocurrencies.
Most of eToros trading volume still sits in the stocks sector as the global stock market continued setting records in 2019. In an interview with the Daily Globes, Assia spoke on how Bitcoin will continue to lead the cryptocurrency market.
Assia stated that they see a lot of people coming into their platform for cryptocurrency trading and then later get into stock trading and remain on the platform. eToro is also one of the few platforms in the world where stocks can traded using bitcoin.
eToro also launched a digital wallet through which customers can hold and transfer their cryptocurrencies. The company also has plans to launch its debit card so its users can instantly debit the transferred currencies.
Assia stated, The card will help expand eToros financial services and will be available in more than 100 countries around the world.
Assai says that when eToro entered the market was very strategic for them since most exchanges got into cryptocurrency trading during early 2018 when the unprecedented rise in Bitcoin value came in 2017.
All the new exchanges profited from the boom, but it was short-lived as the crypto winter hit, and most exchanges succumbed to all the market pressure.
But by the second quarter of 2019, as eToro got into the crypto trading market, surges in the transactional volume and market prices were surging again due to the announcement of Facebooks Libra coin.
This brought awareness of cryptocurrencies to globally. eToro observed a 5x increase in transaction volume and the number of cryptocurrency traders on its platform. As the market stabilized during the third and fourth quarters of 2019, eToro saw a two to three times increase in crypto users and transaction volumes.
eToro had also acquired two startups, the Belgia-based cryptocurrency portfolio monitoring platform Delta, and a Danish startup Firmo, whose specialty lies in developing more secure smart contracts on the blockchain.
The company hopes to integrate Delta customers into eToroX and use the technology developed by Firmo in conjunction with eToros blockchain laboratory. They launched 17 stablecoins on eToroX this year.
In early 2019, Yoni Assia, along with his brother Ronen Assia, who is also the co-founder, and chief product officer of eToro, stated that they planned to expand their investment social network to investors in other countries such as Hong Kong, China, and South Africa.
Assia also went on to say that eToro expanded its business significantly by about 50% in Australia, Philippines, Vietnam, Thailand, Indonesia, Malaysia, and China. They also held an event in the United States. At the moment, eToro only provides cryptocurrency transaction services to U.S. customers, but they hope to expand to more countries in the future.
Yoni Assia also spoke about Israeli company INX which offers cryptocurrencies as security tokens saying, Securities tokens are an exciting market segment, but the liquidity and supply of this market are still not enough to attract investors.
I think that among the hot words in the various cryptocurrency markets we hear about, security tokens will be in the infrastructure development phase this year. On the other hand, in my opinion, stablecoins and DeFi applications are areas where we will see more activity in 2020.
He also believes that in the next decade, the financial industry will undergo tokenization with a basis on blockchain infrastructure. It will all be part of the gradual vast digitization of the financial sector.
When asked about his thoughts on the future of cryptocurrencies and the challenges they will face in 2020, Assia said that he believes Bitcoin will continue to lead the cryptocurrency market in the long run.
Ethereum also holds massive potential with its smart contract technology, and ripple will design the infrastructure on fund transfers between banks.
He also says that other unusual coins like Tezos that focuses on creating decentralized corporate control over IOTA will also grow prominently in their respective fields of expertise.
He also considers Bitcoin halving to be a significant event, and it will bring forth price hikes in the market.
Assia has finally mentioned that he firmly believes that the Bitcoin community came a long way in 2019 and that the concept of Bitcoin and the financial benefits it holds against traditional currencies has already taken hold of consumers in various countries.
The public discussion of Bitcoin will only continue to grow, and the stock market will continue to break records on the side.
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eToro CEO On Bitcoin Dominance in the Cryptocurrency Market - The Coin Republic
Moonday Mornings: Ethereum dev released on $1M bail over North Korea case – The Next Web
Hello Hard Forkers, welcome to another Moonday Morning where we wrap-up the weekends hot cryptocurrency and blockchain headlines.
Take a look.
A small but illegal Bitcoin mine has been located and dismantled in the Ukraine, according to a Facebook post published by an account which appears to belong to the Chairman of Ukraines state railway. Late last year, Yevhen Kravtsov said the farm was located in a railway building in Ternopil in the west of Ukraine.
The farm allegedly installed more than 100 cryptocurrency miners which were attached to the railway buildings power supply in such a way they bypassed the electricity meter. Kravtsov said the people running the mine had saved themselves more than $40,000 by doing so.
Virgil Griffith, the Ethereum ETH developer that allegedly travelled to North Korea to give a talk on how cryptocurrency could be used to evade sanctions, has been released on a $1 million bond, AP reports. The bail has been granted despite prosecutors fears that Griffith may flee the country before his trial
The news comes shortly after Griffith was formally indicted by US authorities late last week. The developer was placed on house arrest, with an electronic tag, at his parents home.
The Reserve Bank of Australia (RBA) is skeptical whether Libra will make inroads in the country at all,ZDNet writes. According to the report, the RBA believes its still unclear if there will be strong demand for stablecoins, and cryptocurrency-based products like Facebooks Libra in Australia.
In a submission to the Select Committee on Financial Technology and Regulatory Technology the RBA said: Australia is already well served by a range of low-cost and efficient real-time payment methods, such as the New Payments Platform, that utilize funds held in accounts at prudentially supervised financial institutions.
The Japanese Financial Service Agency is reportedly planning to introduce a rule that limits the amount of leverage an investor can use in cryptocurrency margin trading, English-speaking outlet The Japan News reports.
The new rule would see leverage limited to twice the deposits of traders. The industry currently has a self-imposed cap of four times; the new law would cut potential leverage in half. According to sources familiar with the matter, the new rule looks set to come into force in the springtime.
And finally
Gregg Bennett, the man who allegedly lost $1 million worth of Bitcoin in a SIM-swap attack, has taken out Twitter adverts attacking cryptocurrency exchange Bittrex, the Seattle Times reports. The ads spread Bennetts claims that Bittrex is an unsafe exchange. He also maintains a website that documents his case against the exchange.
Bennett fell victim to the SIM-swap attack last year. He claims Bittrex violated or ignored its own security standards and industry-standard practices, which allowed hackers to steal 100 Bitcoin from him. Bittrex has said its not at fault and asked for the case to be dismissed.
There you have it, now go get on with your week.
Published January 13, 2020 09:41 UTC
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Moonday Mornings: Ethereum dev released on $1M bail over North Korea case - The Next Web