Day: November 12, 2020

Russia’s proposed crypto amendments have a major blind spot

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Russia’s vast oversight of cryptocurrency transactions appears to have one crucial blindspot: There doesn’t seem to be any liability for criminals who use digital assets to conduct illegal transactions.  On Thursday, Russia’s Ministry of Finance proposed new amendments to the country’s cryptocurrency laws that seek to clarify rules around tax evasion. Under the proposed guidelines, Russians can face up to three years in prison for failing to report at least twice in three years transactions of 45 million rubles ($583,000) or more. An earlier ministry proposal recommended three-year prison sentences…

COVID VACCINE + BIDEN + BRRR = US STOCK MARKET GOES UP

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A New Bitcoin Mining Pool Claims It Has Tools to Censor Blockchain Transactions

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A blockchain and technology company claims its new bitcoin mining pool is embedded with tools that enable the pool to censure transactions in the blocks they mine. According to a statement issued by the DMG, the parent company to Blockseer mining pool, this ability allows the latter to “exceed” the compliance requirements of the U.S. Government’s Office of Foreign Assets Control (OFAC). The mining pool’s ability to filter or censor transactions means “high-risk wallets will not be included in Blockseer’s posted blocks.” Detailing the company’s breakthrough, DMG, in a statement,…

Can Bitcoin price conquer $16,000 as ‘extreme greed’ grips market?

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Bitcoin (BTC) is still showing strength with multiple attempts to break through $16,000 on Nov. 12. A new yearly high was established throughout the day with BTC price peaking at $16,150.  This yearly high is more than 300% higher than the yearly low in March at $3,800. This is impressive momentum, particularly as the life is being drained from altcoins. Even Stan Druckenmiller acknowledged this week that he bought Bitcoin, expecting BTC to continue to outperform gold. This is yet another big-name institutional investor jumping on the “digital gold” bandwagon.…

Stably and DigitalBits Blockchain Partners to Enhance Stablecoin Adoption

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The mission of the Stably Blockchain network involves bridging the gap between real-world assets and emerging digital products.  Seattle-based FinTech startup Stably is partnering with the XDB Foundation, the non-profit organization focused on assisting DigitalBits and related technologies, to bring stablecoin access to the DigitalBits blockchain. In a press release shared with Coinspeaker, the partnership between the XDB Foundation and Stably will see the latter firm, together with its Prime Trust partner add its USDS Stablecoin to the former’s blockchain ecosystem. In addition to the USDS addition, the Stablecoin as…

Binance.US adds North Carolina, now services more than 80% of US

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The United States arm of major crypto exchange Binance is making its services available to North Carolina residents. Binance.US opened registration to U.S. users in September 2019 but excluded the residents of 13 states due to local laws. It has since added four states, including North Carolina. In a statement Thursday to Cointelegraph, Binance.US CEO Catherine Coley said that the digital asset marketplace was now available for North Carolina’s 10.5 million residents, allowing them to buy, trade and earn crypto. The state is home to Research Triangle Park, an area…

Bitcoin Whales Holding at Least 10k BTC Hits a 2020 Peak of 111

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Quick take: The number of Bitcoin whales holding at least 10,000 BTC has reached a 2020 high of 111 Bitcoin addresses holding between 1,000 and 9,999 BTC is also high at 2,129 which is 6 addresses shy of the all-time high The impressive bags of Bitcoin whales is evidence of investor confidence Bitcoin is attempting to turn the $16k price area into support The number of Bitcoin whales holding at least 10,000 BTC is at a 2020 peak of 111. This is according to data from the team at Santiment.…

Bitcoin Showdown With Governments Could See It Banned—But Markets Don’t Care

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The Bitcoin price rediscovered its form yesterday with a 4% gain on the day. Today sees a continuation of that form, as buyers managed to break $15.8k resistance. Sustained buy pressure could see a push past $16k, a level not seen since January 2018. Source: BTCUSDT on TradingView.com Analysts have attributed Bitcoin’s recent renaissance to a variety of factors. Perhaps most influential is the flood of interest from corporate America – who look to Bitcoin as an inflation hedge during the uncertainty. However, billionaire investor and founder of asset management…

Bitcoin Price & Technical Analysis: BTC Takes New Highs

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On Thursday, November 12th, the BTC has paused its growth but the ascending impulse remains in force. The cryptocurrency is generally trading near $15,658 USD. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of BTC/USD. The market is looking for the drivers of the rally in the BTC. The BTC and bank accounts will soon become useless – Roubini. On W1, the Bitcoin keeps developing the ascending dynamics, heading for 100.0% Fibo. The aim of the growth is currently $18,850.00 USD. The MACD histogram remains positive, giving another signal for…

Bitcoin miners now looking beyond Chinese borders

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The behavior of crypto market participants often depends on political and economic factors: the price of crypto assets, regulations in a specific country, or political events. For Chinese miners, however, the factors differ somewhat. For several years, Chinese mining operations have been largely reliant on climate. While Western crypto companies fear falling stock prices and regulators, the survival of many crypto mining operations in China depends on rain. Chinese miners have recently migrated from the southern regions to the north, where electricity prices can be as low as $0.01. This…