European Union to Create “Legal Certainty” for Cryptocurrencies, Blockchain Companies

The European Commission has put forward a prospective regulatory framework for cryptocurrencies and stablecoins, as discussed on the organization’s website and in original documents. European Union: A Complete Crypto Framework The new framework regulates several aspects of digital commerce, with a significant focus on cryptocurrencies (“crypto assets”) and blockchain companies (“DLT market infrastructures”). It clarifies explicitly which assets are considered “crypto assets” and provides rules for the digital finance industry. The Commission intends to build upon existing rules. It notes that some crypto assets fall under existing laws, but that those laws predate cryptocurrency and blockchain as it is known…

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Upstart Bitcoin Cash challenger BCHN gains miner majority ahead of fork

The Bitcoin Cash community appears to be signaling support for the upcoming BCHN fork, with 82% of hash power supporting the implementation. The potential Bitcoin Cash fork in November is looking increasingly likely, with 63% of the last 1,000 BCH blocks being mined using the community’s breakaway Bitcoin Cash Node (BCHN) implementation. BCHN appears to be ahead on multiple fronts. According to data published by Coin Dance, in total, roughly 82% of the hashrate on the Bitcoin Cash network are currently signaling support for BCHN, following recent support from the BTC.com and Antpool mining pools. And more than 700 of…

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How many DeFi projects still have ‘God Mode’ admin keys? More than you think

The vast majority of DeFi projects still have the ability to enter ‘God Mode’ and unilaterally make changes to pretty much everything. Twelve out of 15 of the most popular decentralized finance protocols still have access to a ‘God Mode’ admin key, according to data on review platform DeFi Watch. These full-access controls allow developers to modify or replace the smart contracts underpinning their projects, including making adjustments to user balances. While admin keys have been justified as a way to protect users’ funds and are often used with security features such as timelocks and multi-sigs, analysts argue this calls…

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Is There Turmoil on the Horizon for Bitcoin?

Bitcoin has always been a volatile and changeable asset, and this was borne out clearly during its historic price run back in 2017. During these 12 incredible months, the price of Bitcoin soared from just $1,000 to a staggering $20,000 on the CoinDesk Index, before paring back to £8,000 by June 2018. This highlights both the opportunities and the challenges facing Bitcoin traders in the modern age, and there’s no sign of this market becoming less volatile in the near-term. In this post, we’ll cast our eyes over the latest Bitcoin price movements, while asking whether or not there could…

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Major Indian exchange proposes new regulatory framework to avoid crypto ban

The proposal hopes to avert a blanket ban that some warn would result in the illegal trade of cryptocurrencies Major Indian cryptocurrency exchange BuyUCoin has developed a framework to regulate cryptocurrency in India that it claims has the support of “all the Indian cryptocurrency stakeholders”.  However, it is not clear yet which stakeholders helped develop the framework, or ‘sandbox’, which will be officially released on October 2. BuyUCoin, which has more than 350,000 users and handles billion-dollar transactions, described the framework as a draft set of community driven rules, propositions and implementation methods. The framework will be presented to the…

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Bitcoin Recovery Runs Into Crucial Resistance, But 100 SMA Holds The Key

Bitcoin price started a decent recovery from the $10,139 swing low against the US Dollar. BTC gained pace above the $10,550 resistance, but it is facing a major hurdle near $10,800. Bitcoin managed to stay above the $10,000 support and started a decent recovery. The price is now trading above the $10,550 resistance and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently facing a strong resistance near the $10,800 level (the previous…

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Dave Portnoy meets Pomp: ‘Bitcoin is just one big Ponzi scheme’

Famous day trader Dave Portnoy says he misses crypto in a candid interview with Anthony Pompliano. Popular day trader and founder of Barstool Sports Dave Portnoy revealed that he bought $1.25 million worth of Bitcoin even though he thinks its “just one big Ponzi scheme” in an interview with crypto podcaster Anthony Pompliano. Portnoy summed up his view of crypto trading as: “You get in, and you just have to not be the one left holding the bag.” The sport and pop culture celebrity, whose day trading exploits have become hugely popular during the coronavirus pandemic, only recently delved into…

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Kraken Daily Market Report for September 24 2020

Overview Total trading volume at $237.5 million, as Bitcoin and other coins correct for yesterday's losses and trended positively all day. Very good returns across the board. LINK +29%, SNX +25%, and BAL +18%. Several cryptos had over 10% returns, and only DAI (a stable coin) posted margin losses. Trading volume surged around 05:00, 10:00 and 15:00 UTC; however, none of these surges occurred around major price swings. September 24, 2020  $237.5M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD  XBT $10731. ↑4.9% $113.9M ETH $348.95 ↑8.9% $49.9M USDT $1.0001 ↑0.07% $24.0M LINK $9.8494 ↑29% $23.4M DOT $4.3905 ↑9.4% $5.66M XRP $0.2328 ↑5.2% $4.3M USDC $1.0001 ↑0.0% $3.59M XTZ $2.1528 ↑10% $3.17M LTC $44.929 ↑4.6% $1.95M BCH $216.25 ↑4.1% $1.55M OXT $0.3025 ↑15% $1.16M ETC $5.7974 ↑0.9% $1.16M ADA $0.0826 ↑7.8% $1.1M XMR $91.977 ↑5.6% $1.09M SNX $4.625 ↑25% $1.08M OMG $3.1119 ↑13% $975K ATOM $4.4801 ↑17% $889K EOS $2.5345 ↑3.9% $704K ALGO $0.2943 ↑9.4% $700K DAI $1.0110 ↓0.02% $648K KAVA $1.9908 ↑4.5% $647K TRX $0.0262 ↑5.8% $537K PAXG $1879.1 ↑1.0% $515K XLM $0.0704 ↑4.5% $459K WAVES $2.3659 ↑9.1% $380K ZEC $55.184 ↑6.5% $368K MLN $32.272 ↑15% $327K COMP $138.60 ↑8.9% $327K XDG $0.0026 ↑3.3% $270K…

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MicroStrategy CEO: Bitcoin Doesn’t Need to Be a Medium of Exchange

The biggest debate in the crypto space over recent years has been about if Bitcoin is a medium of exchange or not. Prominent individuals that have commented on the matter include Jack Dorsey, the chief executive of Twitter and Square, and many commentators and investors online. Dorsey, for one, thinks that Bitcoin should be used as a digital currency, recently telling Reuters it’s the “best iteration” of a native internet currency he’s seen. But another prominent corporate supporter of BTC, MicroStrategy CEO Michael Saylor, has begged to differ. The recent-instated cryptocurrency bull recently asserted to his followers that for Bitcoin…

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Chainlink up 30% following six-week downtrend and developer selloff

A Chainlink developer address appears to have been offloading tokens and putting downward pressure on prices. But things are looking up. Following a six week downtrend from its all-time high, LINK has rebounded 30% in the past 24 hours after a reported developer selloff resulted in downward pressure on the oracle protocol token’s price. The strong rebound in the Bitcoin price, a sea of green among DeFi coins and a new Chainlink partnership announcement have all contributed to the price increase. Chainlink’s native token had fallen over 60% from its peak of $20 mid-August, bottoming out at crucial support levels…

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You can now trade on Uniswap without leaving Twitter

Mask Network has launched a widget allowing Twitter users to trade on Uniswap without leaving the social platform. Mask Network has launched a trading widget allowing Twitter users to access market data and trade Ethereum-based crypto assets without leaving the platform. Powered by Uniswap and CoinMarketCap, the new Mask widget brings up a window featuring market data and an interface for trading on Uniswap when users hover the mouse pointer over crypto asset tickers in posts. In a Tweet thread announcing the new widget on September 24, Mask Network (formerly known as Maskbook) said it hopes to expand the service…

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The Genesis of BCH Tokenization: Over 10,000 SLP Tokens Built on Bitcoin Cash

This week Bitcoin Cash fans have been discussing the milestone of over 10,000 Simple Ledger Protocol (SLP) tokens created since the infrastructure was first introduced. Moreover, tokens built on Bitcoin Cash are nearing 1 million transactions to-date. Bitcoin Cash (BCH) community members have noticed there are now 10,679 SLP tokens created since the Simple Ledger Protocol’s inception. The discussion concerning the SLP milestone took place this week on the popular Reddit forum r/btc. In addition to the 10k+ SLP tokens created, the number of transactions is nearing 1 million. Bitcoin.com token data page indicates there’s been 960,346 SLP-based transactions. Statistics…

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This Miner-Related Index Shows That the Next Bitcoin Bull Run is Coming

Bitcoin’s price action as of late has done little to offer investors with insights into its near-term outlook. Its price has mainly been oscillating between highs of $11,000 and lows of $10,000, with each attempt to break out of this tight trading range resulting in the cryptocurrency seeing massive inflows of selling pressure that force it lower. Last week, buyers pushed BTC as high as $11,200 during a swift upwards move. The rejection here kicked off a prolonged consolidation phase, and it has been struggling to regain its momentum ever since. There is one indicator, however, that seems to indicate…

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Wynn-EX Review – How I Feel About Buying and Selling Crypto With This Exchange

Wynn-EX Exchange Rating Account Types9.4 Trading Speed9.2 Customer Support9.7 Safety9.3 9.4 Conclusion My overall trading experience on the Wynn-EX cryptocurrency exchange has been pleasant. I can buy and sell many different types of cryptocurrencies here without exchanging the currency that I have because the exchange accepts my country’s fiat currency on the website. The customer support is great and the system that Wynn-EX has provided you with is great. Try Wynn-EX Today https://wynn-ex.com/ Wynn-EX Review The best way for online individuals to find the best service these days is to rely on the word of their friends. Of course, your…

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Weekly Cloud Indicator: XRP May Rain Down Pain On Ripple Investors

Weeks ago, XRP outperformed the rest of the market, surprising Ripple investors and other crypto holders alike. A recovery looked to be in full effect, but the altcoin has since fallen back to the bottom of weekly cloud support where bulls are trying to hold. If the cryptocurrency loses cloud support on weekly timeframes, it could rain down a storm of pain on XRP investors who have already sustained so much frustration in the last few years. XRP Ready To Fall Out Of Cloud Support, Storm Of Pain Could Strike Holders XRP finally showed investors a glimmer of hope that…

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Bitcoin Shoots To $10,800: Here’s What Analysts Think Comes Next

Bitcoin has recovered after a strong decline earlier this week. After dropping under $10,200 just over a day ago, the cryptocurrency has sprung back above $10,500. The coin now trades at $10,800, having undergone a strong rally just a few hours ago. The coin is up around 5% in the past 24 hours, rising as the U.S. dollar’s rally begins to taper off. Some pin the rally on an ongoing expiry in the futures and options markets, which are likely causing traders to open and close positions. Whatever the case, analysts are attempting to determine what comes next for Bitcoin.…

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Mandatory KYC verification may contradict privacy laws in South Korea

Will this legal contradiction be resolved before the deadline? With the South Korean government preparing to implement know-your-customer (KYC) and anti-money laundering (AML) compliance processes, there is confusion among legal experts as to whether the requirements contradict other laws. According to Digital Today, the new requirements would contravene the existing Personal Information Protection Act, which stipulates that local companies cannot legally request social security numbers. The measure also cover financial institutions, however they can request it under exceptional circumstances, such as for major banking transactions. The Enforcement Decree of the Special Payment Act is expected to come into force in…

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The Pivotal Bitcoin Level Analysts Are Watching as End of September Nears

It’s been quite a boring month for Bitcoin. After plunging around $2,000 at the start of the month, the leading cryptocurrency has entered a tight consolidation range between $10,000 and $11,000, bouncing back and forth between those pivotal technical levels. As of this article’s writing, BTC trades for $10,700, at levels that some analysts have dubbed no man’s land. Here’s a crucial level analysts are eyeing as Bitcoin nears the end of September. How the cryptocurrency interacts with that level is likely to decide Bitcoin’s directionality moving forward. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase Here’s a Crucial…

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