Day: November 17, 2023

What it Means for Digital Asset Brokers and Their Customers

If the proposed effective dates are retained in the final regulations, businesses will not have much time to do this. Most of the information required to be reported (e.g., customer data, name and number of units of digital assets sold, gross proceeds, transaction ID and wallet address) would need to be collected beginning in 2025, but presumably, no one will want to program their systems until the regulations are finalized. As of writing, more than 120,000comments had been filed in response to the proposed regulations. These will take some time…

Germany’s Cotar wants Bitcoin as a legal tender

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German Bundestag member Joana Cotar advocates for Bitcoin’s recognition as a legal tender, aiming to balance innovation with regulatory security. Joana Cotar, a member of Germany’s federal parliament Bundestag, has vocalized her support for making Bitcoin a legal tender in the country. Cotar, known for her forward-thinking views, made these remarks during a recent interview, highlighting her vision to integrate Bitcoin more deeply into Germany’s economic framework. Cotar’s initiative, termed “Bitcoin in the Bundestag,” aims to conduct a thorough assessment to develop a comprehensive legal structure that could potentially acknowledge…

Bitcoin traders’ BTC price dip targets now include $30.9K bottom

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Bitcoin (BTC) circled $36,000 after the Nov. 16 Wall Street open as analysis hoped for a deeper price comedown. BTC/USD 1-day chart. Source: TradingView Bitcoin traders map out likely bottoms Data from Cointelegraph Markets Pro and TradingView followed a retracement from intraday highs of $36,600. Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction to retest lower levels. “Would be happy to see this latest rally complete the round trip back to…

Bitcoin traders’ BTC price dip targets now include $30.9K bottom

Bitcoin (BTC) circled $36,000 after the Nov. 16 Wall Street open as analysis hoped for a deeper BTC price comedown. BTC/USD 1-day chart. Source: TradingView Bitcoin traders map out likely bottoms Data from Cryptox Markets Pro and TradingView followed a retracement from intraday highs of $36,600. Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction to retest lower levels. “Would be happy to see this latest rally complete the round trip back…

ENS developers urge Unstoppable Domains to drop patents or face lawsuit

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Founder and lead developer of Ethereum Name Service (ENS) Nick Johnson is urging blockchain domains company Unstoppable Domains to drop a recently awarded patent or face a lawsuit, according to an open letter shared on X (formerly Twitter).  In January, Unstoppable Domains was granted its first patent, US11558344, which claims that Braden River Pezeshki, Matthew Everett Gould and Bogdan Gusiev are the inventors of a technology that uses blockchain technology to determine domains. The patent request was filed with the United States Patent and Trademark Office in 2021.  According to…

Bitcoin HODLers Grows As Significant Supply Remains Locked

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Despite a larger portion of Bitcoin’s total supply being “inactive” for over a year, recent data revealed impressive growth in investors holding on to their BTCs during the rally. Bitcoin HODLing Yawns For Growth With Lesser Supply On Wednesday, November 15, a crypto analyst known as Root took to his official X (formerly Twitter) handle to share valuable data concerning Bitcoin. A yearly BTC supply chart also accompanied the analyst’s X post. According to the analyst, a significant part of BTC’s total supply has been inactive for over a year.…

Tech firm Republic taps Avalanche for profit-sharing investment note

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Neo-investment and technology firm Republic plans to issue a blockchain-based security token that will pay dividends to retail investors from profits across its broad portfolio of investment holdings. The Republic Note is a profit-sharing digital asset that will be launched on the Avalanche blockchain, which accrues profits generated from Republic’s wide-ranging investment portfolio and services. Republic has attracted over three million investors and has deployed over $2.6 billion into various ventures, including the likes of Web3 firms Avalanche, DappRadar and Dapper Labs. Republic has already carried out a presale round…

ChainGPT integrates Chainlink to unlock cross-chain crypto hub

In a Nov. 16 announcement, ChainGPT shared the news that it had integrated Chainlink CCIP, an industry standard for cross-chain interoperability across Ethereum and Polygon. The integration is said to allow users to list, buy and sell prompts between blockchains. Gain access to users In a blog post on the official website, ChainGPT states it will provide web3 users and projects with AI infrastructure, which includes various AI tools and AI-powered solutions. Then, by integrating CCIP, ChainGPT can go on to gain access to users from top EVM chains without deploying its…

WisdomTree makes an amendment to spot Bitcoin ETF application

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International ETF provider WisdomTree has submitted a revised Form S-1 for its Bitcoin ETF prospectus to the United States Securities and Exchange Commission (SEC) on Nov. 16.  This update follows WisdomTree’s resubmission of its spot Bitcoin ETF application in June 2023. Ongoing intentions The WisdomTree Bitcoin Trust ETF will be traded under the ticker BTCW in the revised prospectus. The custodial responsibility for safeguarding all of the trust’s Bitcoin assets will be entrusted to Coinbase Custody Trust. Bloomberg’s ETF analyst, James Seyffart, highlighted that the recent adjustments in the Form…