Tether’s regulatory proposal is ‚apocalyptic‘ for crypto

The Stable Act could mean the end of Tether.

The US government wants tighter controls on stablecoins.

Tether could be replaced by a regulated crypto-dollar.

Unregulated stablecoins such as Tether face increasing regulatory pressure from the US government.

A new US bill called the Stable Act is causing anxiety in the crypto community. The introduction of this law could effectively put an end to billions of dollars in transactions and set the industry back several years.

The law, as reported by BeInCrypto , calls for banking licenses for stablecoin issuers such as Tether.

It doesn’t end there. The bill proposes additional requirements for Federal Reserve reporting. It also offers issuance approval in addition to constant checks, and an insurance policy to cover assets.

Another proposal may require stablecoin issuers to store their reserves directly with the U.S. Federal Reserve. This puts them under the control of the central bank and significantly limits their open use.

An apocalyptic law for Tether and crypto

A report from Dragonfly Research offers an in-depth analysis of the current use of stablecoin . He concludes that if the bill passes, it could spell the end of Tether:

Make no mistake: the day Tether is slain it will prove to be apocalyptic .

Tether is by far the largest and most widely used stablecoin. Its supply has grown 410% this year alone, from $ 4.1 billion in market cap in early January to $ 20.9 billion today, according to the Tether Transparency Report .

Tether, or the “cryptodollar” as the report researcher calls it, has revolutionized the industry over the past two years. He opened up huge trading gateways with massive liquidity that was not possible using fiat.

The USDT has been a liferaft for many citizens in countries with hyperinflation or tight currency controls. It also helped fuel the rise of DeFi alongside Ethereum.

However, several US agencies and prosecutors are investigating Tether. The company has so far produced very few defenses or audits.

Tether cannot support its monumental growth, which is not sustainable, the research added. The authors say the day of his demise will bring down the entire industry.

Crypto markets will collapse, exchanges will be in disarray, millions of crypto traders will likely have their assets frozen, and prices will drop everywhere.

The future of stablecoins

Currently, the “Stable Act” is only a proposal. It is the subject of much criticism from industry leaders and entrepreneurs, for example. They say the proposal sends the United States back to a dark age in terms of innovation and digitization.

However, a recent statement from the Presidential Task Force bodes ill for this crypto segment. The statement suggests that all stablecoin holders should be subject to KYC (know your customer) requirements, which indicates that stablecoins are still in their sights.

Tether may not be the future of the digital dollar. First, a regulated stablecoin that becomes the de facto standard is a likely replacement. Then there will inevitably be more audits and identity checks by governments, banks and tax authorities. If so, the freedoms we have today with the digital money movement could be a thing of the past.

Bitcoin bereikt hoogtepunten boven $ 24k als LTC $ 120, BCH, BNT op 21 december raakt

BTC-rally komt op stoom terwijl Litecoin de hoogtepunten van 2019 ziet. BCH ziet Square-cashback-boost en Bancor bouwt voort op DeFi-winsten met Coinbase-toevoeging.

Bitcoin kwam boven de $ 20k, zoals ik vorige week voorspelde , en de munt bereikte zondag een hoogste punt van $ 24.300.

De cryptomarkt is maandag enigszins gedaald, omdat markten reageren op een nieuwe aanval van coronavirus-paniek in Europa

Bitcoin was vorige week gestegen toen de US-dollar werd geteisterd door het langverwachte tweede stimuleringspakket voor de Verenigde Staten, dat naar verwachting later op de dag zal worden aangenomen. De deal is voor $ 900 miljard, waarbij de bevolking elk een cheque van $ 600 krijgt. De markt heeft die deal nu geprijsd en de huidige heropkomst van viruspaniek heeft de dollar met meer dan 1% gestegen. Een nieuwe virusstam die in het VK wordt aangetroffen, is naar verluidt besmettelijker en dit is het zien van andere landen die een reisverbod op vluchten van en naar het land instellen, waarbij Frankrijk 20% van de voedselvoorziening stopzet door transport te blokkeren. Een nieuwe ronde van chaos op de financiële markten zou Bitcoin ondersteund kunnen worden, hoewel de liquiditeitsgolf van maart een waarschuwing was.

BTC haalde vorige week wat negatief nieuws van zich af dat de financiële toezichthouder FinCEN probeerde zijn klauwen in de cryptocurrency-ruimte te krijgen. Een regel die vrijdag door het ministerie van Financiën is voorgesteld, zou ertoe kunnen leiden dat houders van Amerikaanse digitale valuta moeten voldoen aan de ken-uw-klant (KYC) -vereisten om hun bezit over te dragen van beurzen naar persoonlijke portemonnees. Brian Armstrong, CEO van de Coinbase-beurs, zei dat het bedrijf de regels zou uitdagen, in een Tweet die werd gedeeld door Litecoin-oprichter Charlie Lee.

De sterke opmars van Bitcoin in de afgelopen week betekent dat de munt zal uitkijken naar het $ 20k-cijfer voor ondersteuning en dat traders de aandelenmarkten in de gaten moeten houden. We gaan het jaareinde in wanneer portefeuilles worden aangepast vóór het nieuwe jaar en grote beleggers willen misschien winst nemen op de schuimige marktwaarderingen als ze bang zijn voor een nieuwe ronde van virusonrust in 2021.

De totale markt voor cryptocurrency is nu $ 662 miljard en BTC is verantwoordelijk voor 66% van dat cijfer

Litecoin was de best presterende munt van de week met een voorschot van 34%. Het op vier na grootste muntenproject heeft nu een marktkapitalisatie van $ 7 miljard.

Grayscale, een van de grootste beheerders van digitale activa, heeft de laatste tijd belangstelling voor de munt opgemerkt en heeft een diepgaand onderzoekspaper uitgebracht dat het „een van de meest interessante digitale valuta’s van het ecosysteem“ noemt. Het bedrijf maakte onlangs bekend dat het beheerd vermogen medio december was gestegen tot $ 13 miljard. Het bedrijf heeft meer dan $ 10 miljard geïnvesteerd in Bitcoin, en hoewel er slechts $ 75 miljoen in LTC is, is de vraag gestegen, dus het is mogelijk dat LTC door nieuwe investeerders als ‘ondergewaardeerd’ wordt beschouwd, aangezien de recente rally van Bitcoin de aandacht op de markt vestigt.

Sąd w Paryżu skazał rosyjskiego hakera na 5 lat więzienia

Sąd w Paryżu skazał domniemanego rosyjskiego hakera Bitcoin Alexander Vinnik na pięć lat więzienia za przestępstwa związane z praniem brudnych pieniędzy oraz za podanie fałszywych informacji o pochodzeniu dochodów. Oprócz tego na Vinnika nałożono karę grzywny w wysokości 100 tys. euro (121 tys. dolarów).

Podejrzany o oszustwo związane z bitcoinami, domniemany właściciel rosyjskiej giełdy krypto walutowej BTC-e, Alexander Vinnik rozpoczął w ubiegłym miesiącu w Paryżu długo oczekiwany proces. Według francuskich prokuratorów, Vinnik był podejrzany o bycie głównym twórcą „Locky’ego“, który doprowadził do szyfrowania danych użytkowników, po czym rzekomo zażądał okupu w bitcoin. W 2016 r. i do 2018 r. kilka podmiotów we Francji było celem tego złośliwego oprogramowania, w wyniku czego dwadzieścia ofiar zapłaciło okup za pośrednictwem BTC-e.

W procesie sądowym w Paryżu, który odbył się w zeszłym miesiącu, 41-letni Vinnik został oskarżony o oszustwo związane z okupem w wysokości 135 mln euro (157 mln dolarów) i stanął w obliczu nawet dziesięciu lat więzienia. Ponadto Vinnik, który twierdzi, że był niewinny, stoi w obliczu 21 zarzutów ze strony amerykańskich agencji prawnych, oskarżając go o pranie miliardów dolarów związanych z grupami przestępczymi, a także o kradzież tożsamości, a nawet o ułatwianie handlu narkotykami.

Vinnik, który wcześniej twierdził, że był tylko pracownikiem BTC-e, z miesięcznym wynagrodzeniem w wysokości 10.000 euro, wcześniej zaprzeczył wszystkim wymienionym oskarżeniom.

Był również poszukiwany w Rosji, w rzeczywistości Vinnik rozpoczął strajk głodowy, domagając się ekstradycji do Rosji, gdzie został oskarżony o mniejsze oszustwa na kwotę 9.500 euro (11.200 dolarów).

Wcześniej w czerwcu nowozelandzka policja przejęła aktywa warte 91 milionów dolarów od Rosjanina, który wyprał miliardy dolarów w kryptońskiej walucie. Policja twierdziła, że aktywa te znajdowały się w nowozelandzkiej spółce Canton Business Corporation, która rzekomo prowadziła nieczynną już giełdę BTC-e.

Bitcoin Troppo volatile per essere un negozio di valore: Fidelity Crypto Boss

Bitcoin ha il potenziale per essere un deposito di valore ma non è ancora lì a causa della sua esplosiva volatilità, si sente il capo di Fidelity Digital Assets.

Fidelity Investments è stata all’avanguardia nell’esporre i propri clienti alla classe di asset bitcoin e criptovaluta. Ma il capo del braccio digitale della società di gestione patrimoniale multimiliardaria Tom Jessop pensa che BTC „non sia proprio lì“ come negozio di valore a causa della sua volatilità sporadica.

Bitcoin è un „potenziale negozio di valore“ non un vero e proprio negozio di valore
Parlando al Reuters Global Investment Outlook Summit 2020, Jessop, leader di Fidelity Digital Assets, ha affermato che il bitcoin non ha ancora raggiunto lo stato di ‚riserva di valore‘. Ma gli investitori di BTC sono comunque ottimisti sul fatto che un giorno lo farà.

Usiamo la parola „potenziale riserva di valore“ perché il bitcoin è ancora estremamente volatile e, per qualsiasi standard, forse non raggiungerebbe il manto di una vera riserva di valore... Ma l’aspirazione lo è, ed è uno dei motivi per cui molti investitori stanno pensando a questo spazio in modo costruttivo.

Questo argomento ha senso, dato che l’azione del prezzo della moneta criptata in cima alla classifica è stata niente meno che un giro sulle montagne russe. In un arco di soli 8 mesi (dal crollo del giovedì nero di marzo), bitcoin ha registrato quasi il 400 per cento di guadagni. Ma nella sua esistenza relativamente nascente, BTC aveva anche perso valore verso l’alto del 90 per cento (dopo il boom del 2017).

Tuttavia, il bene ha subito un’impennata della domanda a causa della sua natura resistente all’inflazione.

Con i governi e le banche centrali in piena fase di stimolo, alcuni osservatori ritengono che il bitcoin sia un’utile salvaguardia contro l’inflazione. Poiché l’offerta è limitata a 21 milioni di euro, queste persone ritengono che la sua scarsità gli dia un valore innato.

Ma la fedeltà è una questione di ginocchia, soprattutto BTC

Tom Jessop potrebbe avere delle riserve contro la narrativa di bitcoin. Ma la sua azienda, tuttavia, sta comunque valorizzando il bene in tutti i modi possibili.

Come riportato da CryptoPotato, Fidelity ha pubblicato la sua Tesi di Investimento Bitcoin Freedom in ottobre. Il documento presentava argomenti convincenti sul perché un mercato di BTC da mille miliardi di dollari non è del tutto fuori questione. La società con sede a Boston ha osservato che la forza del Bitcoin sta nella sua bassa correlazione con qualsiasi altro asset all’interno di un portafoglio di investimenti.

Questo, secondo Fidelity, presenta uno scenario favorevole per gli investitori. Per quanto riguarda loro, il bitcoin diventa un asset alternativo. Uno che permette ai detentori di proteggere il loro patrimonio esponendosi ad una merce per la quale il rischio non dipende da ciò che accade ad altri mercati.

Inoltre, la società di gestione dei fondi con un AUM del valore di 3,3 trilioni di dollari è partner di Stack Funds con sede a Singapore per consentire agli investitori asiatici facoltosi di acquistare bitcoin in modo libero e sicuro.

Secondo un recente rapporto, Stack Funds metterà a disposizione dei propri clienti i servizi di custodia sicura di Fidelity, con sede principalmente in Asia. Stack ha inoltre spiegato che tutte le attività gestite da Fidelity saranno sottoposte a revisione mensile. Lo studio fornirà una copertura assicurativa, contributi settimanali e rimborsi per migliorare la sicurezza del capitale.

Bitcoin risk fades, says CoinShares chairman

According to Danny Masters of CoinShares, Bitcoin’s risk due to its volatility has disappeared by 2020.

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According to statements by CoinShares‘ president, Danny Masters, the main risk associated with Bitcoin is not having that cryptomontage. During an interview with CNBC, he stated that the feeling related to that digital currency, is „electric“.

According to his position, the vision of the pioneering cryptomone currency as a risky asset for investors has changed. Now, by contrast, for a portfolio manager, there is a potential danger if he does not own a certain investment in Bitcoin.

For Masters, who served as a former JPMorgan commodity trader, Bitcoin is an asset that has become increasingly trusted. This explains why dozens of institutional investors, rather than turning away from cryptomoney in times of crisis, are actively seeking it out.

75 crypto exchanges that were buried in 2020

The risk is in other assets rather than in Bitcoin
The time when Bitcoin was presented as a risky investment, due to its volatility, seems to be behind us. „The professional risk of having Bitcoin in an institutional portfolio, as an administrator of the portfolio, is rapidly migrating to a professional risk of not having Bitcoin in the portfolio. This is a really surprising development,“ he explained.

At the same time, CoinShares‘ chairman believes that Bitcoin’s volatility is not a source of nervousness for investors. This is due, in his view, to the fact that other assets are even more volatile than the crypt-currency itself.

„The volatility of other asset classes, has proved to be much higher than people expected,“ he stressed in that regard. The most popular of the digital currencies, it has a maturity index that it did not have before, which gives a good image in front of all types of investors, he said.

For him, Bitcoin’s stigma of volatility has been lifted from major investors. He also stressed that the question is not whether companies will open up to Bitcoin or not, but when and to what extent.

The environment is less and less affected by the crypto currency

An important aspect that, according to Masters, minimises the risk of Bitcoin, is that it no longer wobbles from external shocks. In a report published by the firm in October, he stressed that, at other times, a case like BitMEX would have meant a resounding fall for the currency.

The economic collapse caused by the COVID-19 pandemic only strengthened the cryptomoney. On the other hand, Trump’s statements, threats and attacks by regulators such as BitMEX and the hacking of KuCoin, do not seem to have damaged Bitcoin’s momentum.

„I was surprised by the lack of negative price movement,“ he explained, referring to the cases mentioned. On the contrary, he points out that the level of greed surrounding Bitcoin has increased considerably.

Events that would otherwise have led to a massive sale are being responded to by more investors. At the same time, a large number of investors are on the lookout for Bitcoin’s price to fall in order to invest large sums, which excludes any hint of risk.

This could explain why, after each correction, the price rises in a very short time.

Things to consider
During an interview with CNBC, the president of CoinShares assures that it is more risky not to have Bitcoin than the opposite.
In his view, Bitcoin’s volatility doesn’t make investors nervous because other assets are even more volatile.
The level of greed has not diminished despite external events that would otherwise have affected the price of the currency.
Bitcoin, he explains, has already shed the old stigma of representing an investment risk.