Friday, November 20, 2020

Crypto News Cast For November 20th 2020 ?

Crypto News Cast For November 20th 2020 ?

Crypto News Cast ๐Ÿ“ฎ 20-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

๐Ÿ“ˆMarketCap:          $525 B
๐Ÿ“Š24h Mcap %:        18.50%
⚠️Bitcoin Dom:        66.30%
๐Ÿ“ŒActive Coins:       4,659
๐Ÿ“24h Vol %:            3.20%
๐Ÿ’ฒ24h Vol:                $143 B

Crypto News Updates :

  • Bitcoin’s Taproot Upgrade Support Surges By 45%
  • SEC Chair: Inefficiencies In Traditional Payment System Boosting Bitcoin
  • China's State TV CCTV Shills Bitcoin To Millions
  • OCC Chief Brian Brooks Says Launch of Crypto Banks Is Imminent
  • Goldman Expects Digital Yuan Will Reach 1 Billion Users in 10 Years
  • First Employer-Sponsored Bitcoin Retirement Plans Launched In US
  • Ethereum Breaks $500 for First Time Since 2018
  • OKEx Crypto Exchange To Reopen Bitcoin Withdrawals


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- Bitcoin’s Taproot Upgrade Support Surges By 45%

Bitcoin miners are signaling that they support the Taproot upgrade, which aims to boost privacy and efficiency. F2Pool, the largest Bitcoin mining pool has been listed on the “Taproot-Activation” website, signaling its support for Bitcoin’s protocol upgrade proposal Taproot. With the addition of F2Pool, Taproot, which aims to improve the network’s privacy and efficiency, has now gained the combined support of miners responsible for 45% of Bitcoin’s hash power. This means it is just 6% away from reaching a majority. Read Full on Decrypt.

- SEC Chair: Inefficiencies In Traditional Payment System Boosting Bitcoin

SEC Chairman Jay Clayton reiterated that he does not believe Bitcoin is a security, but suggested that more regulation could still be on the way from other federal agencies. Clayton told that Bitcoin more resembles a store of value and a payment mechanism than it does a security, and that “inefficiencies” in current traditional payment mechanisms, both domestically and internationally, are boosting Bitcoin’s growth. But he also warned that as Bitcoin becomes more popular, it could become further regulated as a payment method. Read Full on twitter.

- China's State TV CCTV Shills Bitcoin To Millions

As noted by prominent Chinese crypto analyst “cnLedger,” yesterday, CCTV, the official Chinese Communist Party television channel, did a segment on Bitcoin due to the rally. According to him, the state channel covered Bitcoin’s price being up 70 percent in fifty days, along with the strength in the fundamentals of the cryptocurrency. It mentioned that bitcoin’s network, development and investment eco-system are now far better than 2017 bull market and added the recent rise is driven by institutional funds. Read Full on twitter.

- OCC Chief Brian Brooks Says Launch of Crypto Banks Is Imminent

Comptroller of the Currency Brian Brooks says the advent of crypto banks is just around the corner. In an interview with Forbes, the head of the Office of the Comptroller of the Currency (OCC) reveals that there are a few crypto firms beelining for the Trust Charter with the OCC in order to provide crypto banking services. Brooks stresses the need to balance banks’ ability to service their clients’ digital asset needs and to maintain current levels of government regulation and oversight. This balance, Brooks believes, will imminently involve crypto banks. Read Full on forbes.

- Goldman Expects Digital Yuan Will Reach 1 Billion Users in 10 Years

According to Goldman Sachs, The digital yuan, China’s planned national virtual currency, would account for 15% of total consumption payments in ten years, helping commercial banks gain more ground from fintech companies. "In ten years we expect DC/EP to reach 1 billion addressable users, 1.6 trillion rmb ($229 billion) in issuance, 19 trillion rmb ($2.7 trillion) in annual Total Payment Value (TPV) and account for 15% of total consumption payments,” the report said. Read Full on CoinDesk.

- First Employer-Sponsored Bitcoin Retirement Plans Launched In US

U.S.-based asset manager, Digital Asset Investment Management (DAiM), has launched the country’s first employer-sponsored 401(k) retirement plans that offers several recommended model portfolios of varying risk to traditional assets and allocation of up to 10% to Bitcoin. The BTC will be held in cold storage by Gemini Trust, allowing DAiM to transfer Bitcoin to former-employees who have left participating companies. DAiM’s crypto-friendly plans are compliant with the Employee Retirement Income Security Act of 1974, and will be able to be offered by employers from 2021. Read Full on cointelegraph.

- Ethereum Breaks $500 for First Time Since 2018

Ethereum has been the talk of the town in recent months as the crypto community anticipates the release of Ethereum 2.0. But while we wait for this upgrade, Ethereum's price has kept rising. The price of Ethereum has risen above the $500 barrier for the first time since 2018. The last time the cryptocurrency was above $500 was July 2018. This recent price increase adds to solid growth over the year with Ethereum's price having risen from $130 to $500 a 284% gain on the year so far. Read Full on Decrypt.

- OKEx Crypto Exchange To Reopen Bitcoin Withdrawals

Crypto exchange OKEx has announced it will resume withdrawals from November 27, 2020, following a temporary suspension that began on October 16. The temporary absence of withdrawals was a major talking point for the Chinese crypto community, but now, the major exchange is set to resume normal business practices. As OKEx reopens for withdrawals, the exchange is also hoping to apologize for the inconvenience caused through user loyalty reward campaigns to express deep apologies and most sincere gratitude to our community. Read Full on Decrypt.

Saturday, November 14, 2020

Crypto News Cast For November 14th 2020 ?

Crypto News Cast ๐Ÿ“ฎ 14-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

๐Ÿ“ˆMarketCap:          $459 B
๐Ÿ“Š24h Mcap %:       -0.30%
⚠️Bitcoin Dom:        64.60%
๐Ÿ“ŒActive Coins:       4,618
๐Ÿ“24h Vol %:           -0.38%
๐Ÿ’ฒ24h Vol:                $112 B

Crypto News Updates :

  • Grayscale Reported Massive Inflow Of $115 Mln In Bitcoin In One Day
  • Travelers Can Pay For Passports With Bitcoin
  • Undo ETH Transactions On MetaMask and WalletConnect
  • Galaxy Digital’s Posted Record Volumes In The Third Quarter
  • MakerDAO’s DAI Market Cap Surpass Over $1 Billion
  • Belarus Largest Bank Launches Crypto Exchange Service


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Register link: http://bit.ly/2YlhQRh
Buy Products and Gift Cards With Bitcoin and Cryptocurrencies: http://bit.ly/2sFJvSf

- Grayscale Reported Massive Inflow Of $115 Mln In Bitcoin In One Day

Grayscale has reported a massive inflow of investments into Bitcoin that took place within one day—on Nov. 12. The managing director of Grayscale Investments, Michael Sonnenshein, has shared the news that the company has managed to collect more than $115 mln for Bitcoin from financial institutions in single day. Grayscale has held as much as $7 billion in Bitcoin and other cryptocurrencies under management. In Q3, the company had laid its hands on 77 percent of all BTC mined during that time. Read Full on U.Today

- Travelers Can Pay For Passports With Bitcoin

Peninsula Visa, a firm providing passport and visa services in the U.S., says it now accepts payments in bitcoin. Peninsula said Wednesday that the payments will be processed through Coinbase Commerce, the merchant payments arm of the cryptocurrency exchange. Currently, customers can use bitcoin to fund passport renewals, name changes and second passports. Other passport and visa services will be included in the program over the next year, the firm said. Read Full on CoinDesk.

- Undo ETH Transactions On MetaMask and WalletConnect

Israeli startup Kirobo has announced the launch of an “undo transaction” button for Ethereum (ETH) blockchain transactions. Previously available exclusively for Bitcoin, the feature is now open to ETH transactions as of Nov 12, to be followed later by ERC-20 token transfers. According to the Israeli government-backed company, the feature will eventually include protection against sending funds to smart contracts that do not accept deposits. Such transactions previously resulted in an irretrievable token loss. Feature is now available to ETH holders using MetaMask and WalletConnect. Read Full on BeInCrypto.

- Galaxy Digital’s Posted Record Volumes In The Third Quarter

Galaxy Digital’s over-the-counter trading desk posted record volumes in the third quarter, signaling once again that institutional uptake of digital assets is on the rise. The company’s third-quarter earnings report showed a 75% year-over-year rise in trading volumes, reaching approximately $1.4 billion. Assets under management totaled $407.4 million at the end of the third quarter, which include $82.4 million in passive Bitcoin (BTC) and index funds and $325 million in the Galaxy EOS VC Fund. Read Full on cointelegraph.

- MakerDAO’s DAI Market Cap Surpass Over $1 Billion

According to Rune Christensen, CEO and co-founder of the company, users of the decentralized stablecoin protocol Maker have minted $1 billion worth of the DAI stablecoin. Dai is now the third-largest by market capitalization after Tether and USD Coin. Unlike many other stablecoins, DAI is not minted by a central company that can decide to issue tokens at will so long as it can claim that it has sufficient reserves. Instead, DAI requires investors to actually stake crypto in order to issue tokens, meaning that its growth is presumably based on real demand. Read Full on Crypto Briefing.

- Belarus Largest Bank Launches Crypto Exchange Service

Belarusbank, a state-owned bank and the largest financial institution in the Republic of Belarus in collaboration with the crypto exchange platform White Bird, is offering cryptocurrency trading services using Visa payment cards. The new crypto exchange service will be open to citizens both in Belarus and Russia. Meanwhile, there are plans to expand the number of countries that would access the new service. Furthermore, users will be able to trade crypto against fiat currencies such as Belarusian ruble (BYN), US dollar (USD), Russian ruble (RUB), and euros (EUR). Read Full on BTCMANAGER.

Saturday, November 7, 2020

Dutch central bank adds a new crypto exchange to its registry

Dutch central bank adds a new crypto exchange to its registry
Dutch central bank

Earlier in 2020, the Dutch parliament decided to pass new AML amendments, which meant that crypto exchanges had to register with the country’s central bank. Those who did not want to do so would not be allowed to continue operating in the country.

Since then, three crypto platforms have joined the list or recognized exchanges, with the latest one only being added to the list earlier today.

Dutch central bank recognizes its third crypto platform

The newest addition to the Dutch Central Bank’s list is a crypto exchange called BLOX. The exchange shared the news via its blog earlier today, announcing that it received the approval of the De Nederlandsche Bank upon registration.

The fact that BLOX is only the third exchange to be registered and recognized by the bank is rather concerning to local crypto users, especially since the registration deadline is about to be reached. The two other exchanges that decided to register are Anvcoin Direct and AMDAX.

The bank recognized both of them, and they also received the same operating licenses as BLOX.

Those who fail to register will have to stop all operations

About two months ago, in September 2020, the central bank also released an announcement, noting that crypto exchanges will be supervised by the bank itself, under the fifth European AML directive.

That will include any and all services that offer crypto-fiat or crypto-to-crypto transactions, including crypto wallet providers. The bank noted that these firms need to prepare for this, and that the bank wants them to register.

This will be necessary, as the bank remains highly concerned about the use of crypto in economic crime.

In order to be recognized, exchanges will have to demonstrate that they are ‘well organized’ and capable of dealing with money laundering and terrorism financing.

Also, the central bank will continue following their performance and ensuring that they remain compliant with the rules even after registration. All those who fail to register will be forced to stop all of their activities after the deadline.

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Wednesday, October 28, 2020

Singapore-based bank to launch a crypto exchange

Singapore-based bank to launch a crypto exchange
Singapore's Monetary Authority published new rules

Singapore-based bank and financial services company, known as DBS, recently announced its intention to launch a cryptocurrency trading platform. The bank — which is currently the largest bank in South Asia by assets — is in the process of building its upcoming exchange.

The bank was willing to reveal some information about the upcoming platform, but some details actually became known due to an error revolving around some cached web page. The page was posted by mistake, and it was not long before DBS took it down.

However, before it could do that, it was discovered that the DBS Digital Exchange — the upcoming trading platform — will provide access to an integrated ecosystem of numerous solutions that would be used to tap the ‘vast potential of private markets and digital currencies.

What is known about the bank’s upcoming exchange?

The platform will list four cryptos paired against four fiat currencies. The coins in question will include Bitcoin, Ethereum, XRP, and Bitcoin Cash. As for the fiats, the bank will support the Singapore dollar, USD, the Hong Kong dollar, and Japanese yen.

The bank’s spokesperson revealed that the exchange is still a work in progress, and so are the plans regarding the platform. For now, the bank’s main focus is on getting approvals from the regulators — more specifically, by the Monetary Authority of Singapore. Until that happens, the bank does not want to reveal any more details.

However, it is also known that the exchange will offer tokenization services, which will allow various businesses to raise money through digital assets and securities issuance. This information came from the mentioned cached page, which was removed soon after it was posted.

Furthermore, it is known that the asset will be held by the bank’s own custody service, known as DBS Digital Custody.

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Saturday, October 17, 2020

OKEx sees massive Bitcoin (BTC) deposit after freezing withdrawals

OKEx sees massive Bitcoin (BTC) deposit after freezing withdrawals
Ex-CEO of OKEx to launch crypto derivatives exchange in Q1 2020

Recently, major crypto exchange OKEx announced that all withdrawals will be frozen for the time being, meaning that all of the money that enters the exchange will be stuck there until further notice. Despite this, however, someone decided to transfer $22 million in Bitcoin from another major exchange, Huobi, directly to OKEx.

Someone deposited $22m in BTC after OKEx froze withdrawals

The situation with OKEx is confusing for a lot of users, but the exchange explained its reasons for blocking withdrawals, and all that users can do now is be patient and wait for the platform to reverse the process.

However, soon after the freezing of withdrawals, an unknown user transferred a total of 1,995 BTC — around $22.5 million — from Huobi to OKEx. The transfer was reported by a crypto tracking service, Whale Alert, which explained that the funds arrived via two separate transactions.

One of the transactions was worth 998 BTC, while the other brought only one coin less — 997 BTC. Both transactions are roughly worth $11.3 million. The first one took place at 3.51 am EST, while the second one came about three hours later, at 6:22 am EST.

Bitcoin supposedly managed to leave OKEx, too

The transfers are certainly confusing, considering that withdrawals from OKEx are now impossible. Some have suggested that they might be a result of delayed transactions, which may have been made before the exchange froze withdrawals.

Regardless of the reason why the coins arrived at this point in time, OKEx’s BTC balance was significantly increased because of them. The exchange now holds 276,184 BTC in its wallets, according to Chain.info.

Delayed transactions also saw the removal of a significant number of BTC from OKEx — around 6,269 BTC. Nearly half of that amount was sent to Binance, and Whale Alert noted that this might be an internal exchange transfer, further saying that the matter is currently being investigated.

However, OKEx’s team stated that the address from which the coins were sent doesn’t belong to the exchange. Then, Chainalysis’ chief economist confirmed that the transactions were somehow mislabeled, and that they did not really come from OKEx.

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