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8 days agocoindesk
The FTX Hack: The Unsolved SIM Swap Mystery
New rules from the SEC and FCC, and the former’s own SIM swap incident, are likely to raise scrutiny on crypto firms to clamp down on a scourge of identity-hacks, says Andrew Adams, partner at Steptoe.
18 days agocryptodaily
Biden administration to clamp down on Bitcoin via emergency data collection on mining
The Biden administration recently put out an emergency edict which requires all bitcoin mining operations in the United States to submit full data on their electricity usage. US grid stability is cited as the reason.
24 days agonulltx
SHIBA INU PRICE ANALYSIS & PREDICTION (January 27) – Shiba Looks Indecisive After Recent Clampdown, What Happened? 
Shiba Inu entered this week at a loss and further dipped to a new multi-week low. It sharply rejected that price level and climbed back to the $0.0000088 level, where it remained stagnant since Wednesday. After plunging to $0.0000083 earlier this month, Shiba rapidly rejected the price level and made […]
42 days agocryptopotato
Solana & AVAX Up Over 15% as Crypto Prices Pump Bitcoin Minetrix Hits New Milestone
The crypto market has been on an upswing in the past 24 hours, with major altcoins like Solana (SOL) and Avalanche (AVAX) seeing double-digit gains. Meanwhile, hot new crypto presale Bitcoin Minetrix (BTCMTX) has just hit the $7.8 million funding milestone, with investors clamoring to get involved while the token price is so low. Solana […]
51 day agozycrypto
This Year’s Winner Is Bitcoin,” says Michael Saylor as 2023 Ends
In a bold proclamation as 2023 comes to a close, MicroStrategy founder Michael Saylor has declared Bitcoin as "this year's winner."
78 days agocoindesk
Coinbase, MicroStrategy Jump in Premarket Trading as Bitcoin Rallies
Bitcoin is trading at levels previously seen in April 2022, shrugging off a tough year marked by several implosions and regulatory clampdowns.
95 days agocryptopotato
Could This Bitcoin Mining Coin Be the Next Token to Explode After Raising $4m on Presale?
The innovative new platform Bitcoin Minetrix (BTCMTX) has raised over $4 million on presale as investors clamor to get involved before the token hits the open market. This hot new Stake-to-Mine platform allows users to earn BTC rewards passively – and is already being touted as the next 10x token in the presale space. Exploring […]
121 day agozycrypto
Is $135,000 The Next Stop For Bitcoin? Rich Dad Poor Dad Author Thinks So
Bullish Bitcoin investors are cheering the digital asset’s reclamation of a perch above $30,000 in recent days, but the rally back above that threshold only served to buoy bold predictions that the world’s largest and oldest crypto will hit six figures in the near future.
197 days agocoindesk
A Long-Awaited Crypto Tax Rule Was Written Months Ago. Why Isn’t it Proposed?
Crypto investors and their brokerages are waiting for a U.S. tax rule that will completely overhaul how they report their cryptocurrency taxes, but the government isn’t offering any straight answers about its holdup even as prominent lawmakers clamor for the Treasury Department to finish the job.
201 day agocoindesk
Figure Abandons Quest to be U.S. Chartered Crypto Bank After Three-Year Fight
Figure Technologies, Inc., has pulled its application to become a federally chartered bank in the U.S., ending a three-year rollercoaster ride as regulators clamped down on crypto activity and digital assets banking suffered a black eye when regional lenders associated with the tech world cratered earlier this year.
207 days agocryptodaily
Senate Passes Military Bill With Crypto Provision
The United States Senate has passed an $886 billion military spending bill with strict anti-money laundering provisions for cryptocurrency. U.S. Senate Takes a Stand on Crypto On Thursday, the U.S. Senate made a significant move by passing the 2024 National Defense Authorization Act (NDAA), a $886 billion military spending bill that contains a provision that will significantly affect the crypto industry. Spearheaded by senators Kirsten Gillibrand, Cynthia Lummis, Elizabeth Warren, and Roger Marshall, the amendment aims to tighten oversight of financial institutions involved in crypto trading and clamp down on the use of crypto mixers and "anonymity-enhancing" assets. The senators hailed it as a substantial step in regulating crypto assets. Merging Existing Acts The amendment draws from two existing acts already presented earlier to the Senate. Elements from the 2023 Lummis-Gillibrand Responsible Financial Innovation Act and portions of Senator Warren’s and Senator Marshall’s Digital Asset Anti-Money Laundering Act, introduced in 2022, have been integrated into the bill. These additions mandate the Secretary of the Treasury to establish examination standards for crypto assets, helping with risk assessment and ensuring compliance with money laundering and sanctions laws. Furthermore, the Treasury Department will be required to conduct a study on countering anonymous crypto transactions, specifically targeting the use of mixers to obscure fund origins. Customary Approach To Legislation The inclusion of crypto-related provisions in a military bill may raise eyebrows. However, the practice of adding non-defense-related amendments to military bills is not uncommon. Furthermore, the senators have defended this move by highlighting the importance of combating illicit finance within the crypto industry. Senator Lummis emphasizes that this measure is crucial for identifying and rooting out bad actors in the sector. Additionally, the bill aims to address concerns related to national security, ensuring that crypto assets are not exploited to evade sanctions or fund terrorist activities. As the House has already passed its version of the NDAA, both chambers will now enter negotiations to reconcile differences and reach a consensus on the final version of the bill. This process is essential for the legislation's passage and enactment. Broader Regulatory Initiatives In conjunction with the NDAA, other congressional committees have also taken steps to address the regulatory challenges posed by the crypto industry. The House Agriculture Committee recently advanced the Financial Innovation Technology for the 21st Century Act to establish a federal regulatory framework for cryptocurrencies in the United States. The House Financial Services Committee passed its version a day earlier, focusing on establishing clear criteria for classifying crypto assets as securities or commodities. As the House and Senate continue their negotiations, the outcome will determine the extent of regulatory measures imposed on the crypto sector and its impact on financial institutions and traders alike. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
214 days agozycrypto
Kuwait Regulator Imposes Blanket Ban On Crypto And Virtual Assets
Kuwait’s government has hardened its stance against cryptocurrencies, prohibiting the use of digital assets for payments or investments in a bid to clamp down on money laundering and terrorist financing.
226 days agocryptodaily
Will Polygon (MATIC) Price Go to Zero as the SEC Begins To Clamp Down on Crypto?
Recently, crypto experts and analysts have raised questions on whether Polygon (MATIC) price could plummet to zero amidst the SEC's tightening regulations on the crypto industry. Amidst the uncertainty, seize the opportunity to participate in Uwerx presale bonuses, offering enticing rewards for early investors. This article provides a comprehensive overview to help you navigate the evolving crypto community and make informed investment decisions. Polygon (MATIC) Price Prediction Polygon (MATIC) is a crypto and blockchain platform built on top of the Ethereum (ETH) network. Polygon (MATIC) aims to address the limitations of the Ethereum blockchain by providing faster transaction processing and lower fees. Polygon (MATIC) achieves this through a combination of technologies, including sidechains, plasma chains, and a decentralized network of validators. Polygon (MATIC) holds a value of $0.6339, boasting a market capitalization of $6B and a 24-hour trading volume of $552M. Market experts project a promising trajectory for Polygon (MATIC), anticipating a rise to $2.05 by the first quarter of 2025. Disrupting the Industry: Uwerx's (WERX) Low Transaction Fee Sets it Apart from Traditional Platforms. Uwerx is revolutionizing the freelancer marketplace with its array of innovative features. One notable highlight is its customized matching system, which optimizes connections between freelancers and clients based on their specific requirements, skills, and budget. Upon its launch on centralized exchanges, Uwerx plans to renounce contracts, cementing its disruptive approach. A significant aspect of this disruption is the platform's transaction fee, set at a mere 1%. This starkly contrasts the excessive charges imposed by traditional platforms like Upwork and Fiverr, making Uwerx a highly appealing choice for freelancers and clients. Its latest feature—the Uwerx Vault—adds another layer of innovation for token holders. Users can earn rewards based on platform variables by staking their WERX tokens in the vault, enhancing their engagement and potential benefits. Uwerx prioritizes security and reliability, evident in the rigorous audits conducted by reputable firms such as SolidProof and InterFi Network. These audits provide users with a sense of confidence and trust in the platform's integrity. Uwerx's achievements have garnered recognition, leading to its listing on CoinSniper. Moreover, it is set to be listed on Uniswap, a major decentralized exchange, on August 1st. These listings further enhance Uwerx's accessibility, liquidity, and overall standing in the crypto market. Uwerx (WERX) Test Airdrop and Long-Term Stability Measures: Exciting Opportunities and Trust for Token Holders Uwerx recently launched the initial version of its Alpha platform, providing users with a glimpse into its functionality and user experience. The platform is now preparing to transition from Alpha to the eagerly awaited Beta phase, bringing further improvements and enhanced features for a smoother user journey. Uwerx has made a comprehensive update available as a PDF document to demonstrate its commitment to transparency and user support. This update covers essential aspects such as sign-up, login, password recovery, freelancer and client roles, job creation, talent discovery, and key pages like activity tracking and the hiring dashboard. Uwerx's progress in shaping the future of freelancing is undeniable, driven by innovation, lower fees, and user-centric features. The platform highly values user feedback, encouraging individuals to share their insights at [email protected] to actively contribute to its evolution. Exciting times lie ahead as Uwerx prepares for a Test Airdrop scheduled at the end of the presale on July 31st. This presents an excellent opportunity for participants to experience the platform's capabilities personally. To ensure stability and trust for token holders, Uwerx has implemented a nine-month lock on team tokens and plans to extend the token liquidity lock for 25 years after the presale. These long-term commitments showcase Uwerx's dedication to maintaining a secure and reliable environment. The rapid growth of the Uwerx platform, with over 5,500 sign-ups and a substantial presence on Twitter and Telegram, reflects its appeal to freelancers and clients seeking cutting-edge solutions. Uwerx (WERX) Presale Success: Breaking Records and Reaching New Heights Uwerx achieved outstanding success during its presale by swiftly completing stages 1 to 4. In the Stage 5 presale, Uwerx tokens are available at an attractive price of $0.047725 per token, accompanied by a tempting 15% bonus on each purchase. The price is set to rise to $0.05245 on Monday, July 10th at 18:00 UTC. This week, there will be a release of a clickable prototype for the presale, which will include pages for freelancer registration and client registration. Furthermore, the Uwerx Vault feature will be unveiled next week, and a poll will be conducted to determine the date of the test airdrop. This presents a remarkable opportunity to acquire tokens at a favorable value. Market analysts anticipate a promising trajectory for Uwerx, projecting a price of $1.33 by Q4 2023. Remaining responsive to community demands, the Uwerx team demonstrates flexibility by adjusting token allocations in light of the rapid speed of the presale. Don’t Miss Out on the 15% Bonus; Buy WERX tokens today: Presale: Telegram: Twitter: Website: Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
232 days agocryptopotato
Belarus Pursues Clampdown on P2P Crypto Transactions: Report
Despite the ban, crypto users are skeptical about Belarus' ability to enforce it.
244 days agocryptodaily
Huobi Founder Sues Crypto Exchange For Trademark Infringement
Huobi founder Li Lin has sued Huobi Global in Hong Kong for using the Huobi trademark without proper permission. Lin has filed a lawsuit in the High Court of the Hong Kong Special Administrative Region. According to the lawsuit, the exchange continued to use the Huobi trademark without obtaining consent from Li Lin’s company, X-Spot. Huobi Founder Sues Exchange He Founded Chinese crypto reporter posted details about the lawsuit on his Twitter handle, stating that the crypto firm had resumed using the “Huobi” trademark without permission from X-Spot. Lin’s company maintains exclusive rights to the trademark. The news of the lawsuit comes as the exchange attempts to increase its footprint in Hong Kong in the face of growing regulatory pressure on the crypto industry. The United States Securities and Exchange Commission has also clamped down on cryptocurrencies and crypto platforms, forcing exchanges to look for more friendly jurisdictions. Colin Wu, a Chinese crypto reporter, published details about the lawsuit on Twitter, stating, “Huobi founder Li Lin formally sued Huobi Global in Hong Kong for using its Chinese trademark 火币 that was not allowed to continue to be used in the original acquisition contract. Huobi was acquired by Justin Sun for over $1 billion last year. Sun froze Li Lin’s brother’s account and accused him of dumping HT this year.” Li vs Sun The move to sue the exchange comes after Justin Sun, Huobi Global Advisor, moved to block Li Lin’s brother, Li Wei’s account and accused him of dumping Huobi Global’s native HT token. Sun had assured token holders at the time that the volume of HT tokens sold by Wei would be removed from the circulating supply, restoring the token’s original value. The move resulted in the token facing significant volatility. Following the blocking of the account, Huobi began using the “Huobi” trademark once again. However, the complaint filed by Li Lin on the 21st of June, 2023, states that X-Spot had retained exclusive rights to the Huobi trademark. “X-Spot Limited has retained exclusive rights to the ‘Huobi’ trademark, which Huobi Global Limited has been using without X-Spot’s authorization.”’ Apparently, when the original shareholders transferred their shares in Huobi Global to About Capital Management, they explicitly agreed to retain the “Huobi” trademark. According to the terms of the agreement, About Capital’s buyout vehicle would control a majority stake in Huobi Global once the transaction was complete. The sale of the exchange was part of a larger strategy to position the platform as an option for providing international investors with the best investment and trading services. Apart from retaining trademark rights, shareholders also agreed that the rights would not be transferred to Huobi or the buyer. They added that the parties’ asset delivery and equity transfer agreement prohibited the purchaser from using the “Huobi” brand and trademark. Huobi Global Counters However, Huobi Global has countered the claims, arguing that the exchange maintains the right to use the trademark in a number of legal jurisdictions globally. According to the exchange’s interpretation of the agreement, it has the mandate to use the “Huobi” trademark freely. Huobi Global Limited is currently looking to expand its operations in Hong Kong. However, the exchange is not yet registered in the region. This is significant due to the threat posed to the proposed expansion plans by Li Lin’s lawsuit. According to operational rules in Hong Kong and other regions, the right to use a trademark is subject to the regulations and laws in the region. As a result, a court will have to approve Huobi’s expansion plans. Meanwhile, the Huobi token is currently trading at $2.69, suggesting increased investor interest in the token despite the ongoing troubles. So far, there has been no official comment by Justin Sun or Huobi Global about the lawsuit. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
249 days agocoindesk
Crypto Traders Flock to OTC Markets as Exchange Liquidity Dries Up Amid Regulatory Clampdown
crypto traders flock to OTC
250 days agocryptodaily
Blockchain Association Files FOI Inquiry Into Prometheum
The Blockchain Association has filed a Freedom of Information Act (FOIA) request with the U.S. Securities and Exchange Commission (SEC), with an inquiry into the regulator's interactions with Prometheum, a relatively lesser-known cryptocurrency exchange that has recently garnered significant attention. Prometheum's co-CEO Aaron Kaplan was recently invited to testify before Congress, a rare occurrence for an executive from a relatively obscure company in a nascent industry. During the session, Kaplan voiced his support for the SEC's existing regulatory framework for cryptocurrency exchanges, while casting criticism on a significant portion of the industry. His statements have sparked intense discussions within the industry, and have elicited skepticism from some quarters. Possible Inconsistencies: Prometheum's Relationship with the SEC Adding to the intrigue surrounding Prometheum's operations is a revelation that the company paid over $1.5 million in sales commissions to a Chinese-affiliated entity, which carries a less-than-stellar regulatory track record. This has raised concerns within the Blockchain Association, leading it to further investigate the company's regulatory dealings. The criticisms are mainly centered on the fact that, despite being approved as a SPBD, Prometheum faces a considerable challenge in terms of regulatory compliance, and, for its end, the capacity to do so. The company's trading platform will not be able to facilitate the trading of any tokens until the projects behind those tokens have registered with the SEC. As it stands, there is no clear pathway for such registration under the existing SEC regime. This highlights a glaring contradiction in Prometheum's claims of offering a regulatory compliant platform for digital asset securities.The skepticism is well-founded, with several red flags raising questions about Prometheum's operations. The company reportedly paid in excess of $1.5 million in sales commissions to a Chinese-affiliated entity, which carries a dubious regulatory record. Such practices would typically invite scrutiny, but they appear to have been overlooked in Prometheum's case. These findings are the result of diligent work by the Blockchain Association, which continues to investigate the company's actions and interactions with the SEC. Further, Prometheum's claims of being a compliant path were brought into question during Kaplan's congressional hearing and an interview with journalist Laura Shin. It was suggested that Kaplan misinterpreted the legalities surrounding the crypto industry, thereby misrepresenting his company's position. This was reflected in the words of Representative Mike Flood, who dismissed Prometheum's assertions as unfounded. Regulatory Concessions Despite its status as a SPBD, Prometheum's Alternative Trading System (ATS) faces a considerable regulatory hurdle. The platform will be unable to trade any tokens until those tokens' creators have first registered with the SEC. This presents a roadblock, given the lack of a clear path to registration under the current SEC regime—a reality at odds with Prometheum's proclamations of offering a regulated platform for digital asset securities. Prometheum's unusual trajectory underscores the broader struggle within the crypto industry to navigate the complex and rapidly evolving regulatory environment. It highlights the critical need for greater transparency and a well-defined regulatory framework that can keep pace with innovation in the digital asset space. Prometheum has been under scrutiny since its co-CEO, Aaron Kaplan, testified before Congress and made statements supporting the SEC's regulatory approach towards crypto exchanges, while criticizing much of the crypto industry. Prometheum claims to be a broker-dealer approved by the Financial Industry Regulatory Authority as an alternative trading system. Current Tensions In U.S. Crypto Regulation Prometheum's position comes at a time when the crypto industry has been expressing concerns over what they perceive to be an antagonistic regulatory environment in the U.S., especially in the wake of recent lawsuits filed by the SEC against major exchanges like Coinbase and Binance. Prometheum plans to list regulated cryptocurrencies. However, this has been met with criticism. Rodrigo Seira, special counsel at Paradigm, pointed out that the SEC's stance is that most cryptocurrencies are unregistered securities, and therefore cannot be traded even on regulated exchanges. In response to a question during the congressional hearing from Congressman Mike Flood about whether Prometheum lists bitcoin or ether, Kaplan confirmed that the platform does not list either of these. Kaplan's statement seems to contradict the idea that no additional legislation is needed, as argued by Flood. Prometheum had previously announced plans to support digital asset securities, including Flow, Filecoin, The Graph, Compound, and Celo. The company has yet to provide a public disclosure on the matter. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
256 days agocoindesk
SEC Clampdown Spurs $4B Deposit Flight From Binance, Coinbase and Binance.US
The exchanges, targeted by the SEC for violating federal securities laws, have endured a significant wave of user withdrawals but managed to process transactions in an orderly fashion so far.
265 days agocointelegraph
SEC former chief warns influencers about persecution for crypto price manipulation
SEC has started to clamp down on crypto influencers and has issued several fines and cease and desist orders over the past few years.
311 days agocryptopotato
Hong Kong Confirms Crypto Commitment at Web3 Conference: Report
Hong Kong is powering ahead with its ambitions to become a regional crypto hub as the West continues to clamp down on the industry.
315 days agozycrypto
New York Regulator Strengthens Anti-Fraud Unit to Curb Crypto-Related Crime
The New York State Department of Financial Services (DFS) has stepped up efforts to detect fraud and other illegal activities among entities engaged in cryptocurrencies and other virtual currencies, as a government clampdown on the sector widens. As per a Feb 21 announcement, the latest efforts saw new tools aimed at detecting activities such as Insider trading […]
318 days agocryptodaily
Repatriation of N. Korean Workers Urged Amid Crypto Exploits
Citing North Korea's "unlawful weapons programme" and "malicious cyber activities" Seoul, Washington, and Tokyo reiterated the 2017 UN resolution to send back North Koreans working abroad. This call was first reported by AFP. This initial resolution had set the goal for completion by 2019, but has since been progressing slower than expected. A January report from the Council on Foreign Relations indicated that North Korean hackers account for a third of all crypto losses, particularly those in relation to DeFi exploits. The reports revealed how North Korean hackers were using decentralized finance (DeFi) to hide their illicit activity, with the supposed tangent of funding nuclear activities through these means. It has been estimated that up to $1 billion has been stolen by North Korean hackers in the past two years. The U.S. government has taken steps to address the threat by, of course, imposing additional sanctions on the country as well as entities linked to the cryptocurrency thefts. One might recall the debacle with Tornado just last year where the crypto mixer was sanctioned and one of its developers arrested. Tornado, along with, another mixer, were sanctioned for their role in facilitating money laundering schemes conducted by North Korean hacker groups. There remains some contention amid all this, though: the U.S. regulatory climate. As the White House released a new economic report for 2023 which contained two sections on crypto (crypto as a tech stack, and CBDC prospects), several crypto firms have been reeling from the effects of tighter regulatory oversight. Opinion The Securities and Exchange Commission, despite harsh backlash, has remained steadfast in clamping down on cryptocurrency. This whole fiasco about North Korean hackers using crypto mixers might set off a precedent for further regulations, which the SEC will always be keen on dishing out. These developments underline the growing concerns surrounding cyber threats from state-sponsored actors, particularly within the realm of cryptocurrency. The Lazarus Group's connection to both high-profile cyber attacks and the Tornado Cash sanctions highlights the complexity of the situation, as well as the importance of a vigilant regulatory environment to monitor and counteract such threats. As geopolitical tensions rise, the crypto industry may find itself increasingly entangled in these issues. The challenges presented by groups like the Lazarus Group have prompted authorities worldwide to reconsider their approach to cybersecurity, particularly in the cryptocurrency domain. Governments and regulatory bodies are now grappling with the need to strike a balance between fostering innovation in the rapidly growing crypto space and implementing robust security measures to counteract malicious activities. As countries like the United States, Japan, and South Korea express concerns over North Korean cyber activities, there is a clear need for international cooperation to address these threats effectively. Information sharing, collaborative investigations, and joint efforts to strengthen information security could help mitigate the risks posed by state-sponsored hacking groups. At the same time, it is essential for the crypto industry to adopt a proactive stance toward security. Businesses operating within the sector must recognize the potential risks and implement necessary safeguards to protect both their operations and their customers. By working closely with regulators and law enforcement agencies, the crypto industry can contribute to global efforts to counter the malicious activities of groups like the Lazarus Group and ensure a safer and more secure environment for all stakeholders. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Opinions stated herein are solely of the author's, and hence do not represent or reflect CryptoDaily's position on the matter. The author has no influential stakes in any of the digital assets and securities mentioned, and does not have any significant hold of or own any cryptocurrency or token discussed.
319 days agocryptodaily
Binance Derivatives Licence Cancelled, Crypto Daily TV 7/4/2023
In Todays Headlines TV CryptoDaily News: Amid regulatory clampdown. Uniswap topped Coinbase trading volume. Uniwap topped Coinbase in terms of market share last month as traders turned to decentralized exchanges amid the U.S. regulatory clampdown and a banking crisis that caused key stablecoins to depeg from $1. Closing everything by April 21. Binance Australia's derivatives license was cancelled by regulators. The Australian Securities and Investments Commission has cancelled Binance Australia's derivatives license. Binance Australia, an arm of the world's largest crypto exchange by trade volume, has been ordered by the regulator to close all client's open derivatives positions by April 21. Near record highs. Stablecoin Tether's market capitalization keeps rising. Tether, the world's largest dollar-pegged stablecoin, is thriving, having survived the Terra-induced turmoil of mid-2022. The market value of the stablecoin continues to rise and is now within a whisker of its record high of $84 billion. BTC/USD dropped 0.5% in the last session. The last session saw Bitcoin drop 0.5% against the Dollar. The MACD is giving a negative signal. Support is at 27333.6667 and Resistance is at 29159.6667. The MACD is giving a negative signal. ETH/USD dove 2.2% in the last session. The Ethereum-Dollar pair dove 2.2% in the last session. The Stochastic-RSI is giving a negative signal. Support is at 1831.8133 and Resistance is at 1974.6133. The Stochastic-RSI is giving a negative signal. The last session saw XRP drop 0.4% against USD. The Ripple-Dollar pair dropped 0.4% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 0.4825 and Resistance is at 0.5381. The Ultimate Oscillator is giving a negative signal. LTC/USD plummeted 2.0% in the last session. The Litecoin-Dollar pair dove 2.0% in the last session. The CCI is giving a negative signal. Support is at 89.1767 and Resistance is at 96.6967. The CCI is giving a negative signal. Daily Economic Calendar: NL Consumer Spending Volume Consumer Spending is an indicator that measures the total expenditure by individuals. The level of spending can be used as an indicator of consumer optimism. The Dutch Consumer Spending Volume will be released at 04:30 GMT, the US Nonfarm Payrolls at 12:30 GMT, and the UK's CFTC GBP NC Net Positions at 20:30 GMT. US Nonfarm Payrolls The Nonfarm Payrolls presents the number of new jobs created during the previous month excluding the agricultural sector. UK CFTC GBP NC Net Positions The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions. FR Current Account The Current Account measures the net flow of current transactions, including goods, services and interest payments into and out of the local economy. The French Current Account will be released at 06:45 GMT, Japan's Leading Economic Index at 05:00 GMT, and Japan's Coincident Index at 05:00 GMT. JP Leading Economic Index The Leading Economic Index is an economic indicator that consists of 12 indices such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. JP Coincident Index The Coincident Index released by the Cabinet Office is a single summary statistic that tracks the current state of the Japanese economy. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2336 days agocryptodaily
Malaysia Legalises Bitcoin – Why This Is A Big Deal
After the news that China has clamped down on Cryptocurrency, and banned all exchanges, which saw a slight decline for Bitcoin, good news is well and truly needed. This comes in the form that Malaysia has recently legalised Bitcoin, which is great news for cryptocurrencies, and could bring in millions of new users. It has been reported that Malaysia’s central bank is working to develop a framework that would regulate the use of different cryptocurrencies. The Governor Muhammad bin Ibrahim has released a statement saying that by the end of the year, they hope to have issued guidelines on cryptocurrencies, particularly around the cryptocurrencies that are related to anti-money laundering and terrorist financing. Despite stating just three years ago, that Bitcoin would not be recognised as legal tender, this big U-turn has been marked as an important event for both Malaysia, and Bitcoin; not to mention other cryptocurrencies. We will take a look at why this is not just a good thing for Malaysia, but for Bitcoin as a whole, and why it could attract millions of more users, increasing the overall demand for Bitcoin. What this means for Malaysia?What has caused this huge turnaround for Malaysia, and why are they now fully supporting cryptocurrencies? The recent development could bring some big changes to Malaysia and surrounding areas, with most notably the large number of expat workers, who send a lot of their money out of the country, and to their respective home countries. In recent months, they have been hit by monetary devaluation and strict capital controls, which has had a detrimental effect on their money. Malaysia has always had strict rules and regulations surrounding cryptocurrencies, which is why this U-turn seems surprising to some. Despite the fact that they have long remained tight lipped when it comes to cryptocurrencies, the country’s central bank; Bank Negara is considerable openminded – something that is actually very refreshing to see these days. Many financial institutions frown upon cryptocurrencies because they feel that as a country, they will never be able to properly regulate it. Just two weeks ago, the Malaysian Securities Commission issued a strong warning not to invest in cryptocurrencies; however, this is nothing new, like we previously stated above. Right now, Malaysia is working to come up with a framework that will allow traders to trade in Bitcoin and other cryptocurrencies, but one that also address money laundering and terrorist financing. The country is known for its growth, and many other economic accomplishments, and inevitably wants to apply a similar strength to cryptocurrency, which will not be easy, which is why they are working hard to come up with an effective framework. This is a very exciting move for Malaysia though, and many experts are predicting that the nation may become one of the next major cryptocurrency hubs in the coming years, and one to keep a definite eye on. Why this is a good thing… The news that Malaysia is legalising Bitcoin is ultimately a great thing, as it could bring millions of new users. We previously mentioned that the Malaysian government was hit hard with the devaluation of the Malaysian ringgit, which caused the country’s national currency to decline by around 2 percent in value against some of the biggest currencies, such as the US dollar. By the country legalising Bitcoin, it could provide an alternative financial and remittance system to the expat workers who were struggling to send their money to their native countries. This could give them a way in which to move money in and out of the country effectively. Despite this legalisation process still being in the very early stages, some leading Bitcoin remittance service providers and brokerages have already secured millions of dollars in funding, and have expanded their operations to Malaysia. Of course, this theory will only work in countries where Bitcoin is very much established and well-regulated, which could prove problematic now for those wishing to send their currency to China, who have recently placed a ban on all cryptocurrencies. However, the Malaysian central bank is still quick to point out that, despite this legalisation, they are not endorsing any cryptocurrency, as a currency as it is not issued by a central bank, and not backed by any commodity. However, what they do plan on doing is to regulate this, when it is used for the delivery of financial services. Regardless of how it is looked at, for those in the cryptocurrency bubble, this is only a good thing, and a much welcome piece of news after China’s demise. References And Further Reading: • Bitcoinist; Bitcoin legalisation update: Malaysia, Ukraine and Indonesia • iGaming; Malaysia Planning To Legalise Bitcoin • New Straits Times; Are we ready for Bitcoin? • The Star Online; On Mcoin, Bitcoin and points of interest • Cryptocoins News; Top 10 Countries in Which Bitcoin is Banned • Steemit; Malaysian’s Legalisation of Bitcoin • IntelAsia; How Malaysian’s Legalisation of Bitcoin Could Bring Millions Of New Users

About Clams?

The live price of Clams (CLAM) today is ? USD, and with the current circulating supply of Clams at ? CLAM, its market capitalization stands at ? USD. In the last 24 hours CLAM price has moved ? USD or 0.00% while ? USD worth of CLAM has been traded on various exchanges. The current valuation of CLAM puts it at #0 in cryptocurrency rankings based on market capitalization.

Learn more about the Clams blockchain network and how it works or follow the price of its native cryptocurrency CLAM and the broader market with our unique COIN360 cryptocurrency heatmap.

Clams (CLAM) is a decentralized open source cryptocurrency that forked off of BlackCoin. The project was launched in May of 2014. Clams is based on the Proof-of-stake consensus mechanism. The managing of transactions and issuing of CLAM coin is based on Bitcoin, Litecoin and Dogecoin. Find the real-time price for CLAM on COIN360.
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