A group of senators insisted on the adoption of stricter sanctions against the national cryptocurrency of Venezuela Petro (PTR) and distributing them to any similar products of the Latin American countries.
The bill promoted by the representatives of both parties represented in the Senate. A support group of the document includes such influential senators like Robert Menendez (Robert Menendez), Marco Rubio (Marco Rubio) and Ted Cruz (Ted Cruz).
The bill, dubbed the “Law on humanitarian assistance, restoring rule of law in Venezuela from 2018”, covers a number of areas associated with the Bolivarian Republic.
In particular, a separate section of the document came in signed in March a decree of the President of the United States Donald trump (Donald Trump), which imposed sanctions against Petro.
The Senate bill develops and enhances the provisions of the presidential decree forbidding U.S. citizens to provide funding and software “to handle any digital currency, coins or tokens that have been issued to or on behalf of the government of Venezuela”.
Immediately after the launch in February of Petro provided by oil, Venezuelan President Nicolas Maduro (Nicolás Maduro) has announced the imminent appearance of another national cryptocurrency — Petro Oro, with the support of gold. Two months later he again announced that Petro Oro will be activated “in the coming days,” but to date this has not happened.
In Venezuela said that in the PTR funded the establishment of youth cryptocurrency Bank and the construction of social housing. From August 20 in Venezuela issued denominated sovereign Bolivar, Maduro said, is tied to Petro. In addition, the national cryptocurrency tied a new system of prices and wages, and later the President of Venezuela announced the application of PTR in international settlements from 1 October. While Reuters journalists investigated and found out that Petro unsecured and does not actually exist.
Group of development of financial measures against money laundering (FATF) has urged the UK government to strengthen supervision over the industry life-cycle.
The FATF noted that currently the power associated with studying virtual currencies and the risks of working on a new law. However, the report said, the current British law needs to be expanded.
It is noted that the crypto currency exchange in the country are at risk, so the improved rules should strengthen the fight against money laundering and the financing of terrorism.
Recall that in the following year, FATF will represent the standards for the regulation of cryptocurrencies.
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Compared to September, in November the volume of transactions tablconv USDC, TUSD, GUSD and PAX grew by 1032%. To such conclusion analysts of the center.
In value terms, the total volume of transactions «new» tablconv in November reached $2.3 billion In three months, the figure was $5 billion.
According to Diar, the most popular stablon PAX from blockchain startup Paxos, who managed to attract funds amounting to $93 million In particular, the volume of transactions PAX is about two times higher than similar indicator USDC, developed by Coinbase in conjunction with the startup Circle.
Some decline in transactional volumes in December showed only TrueUSD from the company TrustToken. Last this summer, has raised $20 million from Andreessen Horowitz, BlockTower Capital and Danhua Capital.
Despite a significant decline in capitalization in November, confidently holds fifth position in the rankings CoinMarketCap is still the most popular stablon Tether (USDT):
If 2017 was the «year ICO», 2018, is undoubtedly the «year tablconv». Gaining popularity USDC, TUSD, GUSD, PAX and many other «stable coins» appeared one after another in this year.
Recall that in late November the largest crypto currency exchange Binance has created a combined market tablconv (USDⓈ). A week later, about the support of the USDC, True USD, Paxos and Gemini USD announced by the Bitfinex team.
According to a recent research by Diar, tablconv popularity continues to grow. This conclusion came analysts, examining transactions with them in the blockchain.
According to them, the four major stablon – USD Coin (USDC), True USD (TUSD), Paxos (PAX) and Gemini Dollar (GUSD) for the three-month period reached $5 billion in transaction volume on the blockchain. In November there were 1 032% increase in transactions compared to September. At the end of last month, the market volume tablconv exceeded $2.3 billion, says Diar.
Only with Paxos for the last three months in the Ethereum blockchain transactions was $1.8 billion, which is 2 times exceeds indicators of the developed American stock exchange Coinbase cryptocurrency and payment company Circle stablon USDC.
Exchange cryptocurrency actively add stabilini on their platforms. Recently Bitfinex and its sister site Ethfinex implemented support for the USDC, TUSD, PAX and GUSD in addition to DAI and USDT. The company explained this step by his desire to preserve the impartial position.
Exchange Binance renamed the market USDT in a combined market tablconv USDⓈ and intends to deliver it all with a pair of USDT, PAX, TUSD and USDC.
Also recently it became known that the well-known Chinese bitcoin tycoon Li Saoli will participate in the development tied to the yen stablon.
A subsidiary of Italian banking group Intesa Sanpaolo Banca IMI Intesa Innovation and blockchain startup Oraclize considering the possibility of a run on the financial markets Ethereum-derivatives.
Writes CoinDesk, citing a document prepared by one of top-managers Banca IMI Massimo Morini (Massimo Morini), a smart contract for Ethereum-based will prevent the possibility of refusal from payment under the contract by any counterparty. The derivatives-based smart contracts can reduce the time for execution of the agreements from days to minutes.
Enough even that smart contract holds some tools that you can use them in the case that someone has stopped paying — to ensure that even in the case of stopping the payments.. you do not lose money.
This business model differs from that standardly used in the financial markets, but it works.
The main obstacle to the development of the derivatives market on the blockchain Morini sees privacy.
Recall that Italian banks, including Intesa Sanpaolo, see the danger in spreading operations with cryptocurrencies, as they contribute to money laundering and financing of terrorism. At the same time, this year the Bank joined SWIFT on testing blockchain technology.
The Ministry of infrastructure of Ukraine plans before the end of 2018 to create and run on the blockchain a single register bus carriers, which then will be joined by other transport companies.
According to the head of Department Volodymyr Omelyan, this decision will allow to develop an app with which users will determine its geolocation, and optimal routes to any destination. In addition, it is expected that through the app users can purchase single tickets for three types of transport: buses, trains and planes.
Recall that the blockchain technology could become one of the basic concepts of digitalization of public administration of Ukraine. It is among “important for the development of the digital economy and digital soft infrastructure, which should not remain out of sight”.
Trade Commission commodity futures U.S. (CFTC) published a proposal of interpretation of how she would take it that the cryptocurrency was “delivered” from the seller to the buyer, according to CoinDesk.
The Agency previously stated that to regulate bitcoin, it will be as a kind of goods presented two examples of how to determine “actual delivery” of cryptocurrency. In October, the CFTC stated that it continues to work on identifying.
According to the CFTC, two factors that define what is delivered are:
“(1) the customer is able: (I) to own and manage the entire quantity of the goods, regardless of whether it was purchased on margin or with leverage or any other funding mechanism; (II) to use it freely in trade (both inside and outside of the specific platform) not later than 28 days from the date of the transaction;
(2) the proposer and the contractor (including any of their respective affiliates or other persons acting jointly with the seller or counterparty on a similar basis), do not retain any right or control over any product purchased under margin or other financing mechanism, on the expiry of 28 days from the date of the transaction.”
The CFTC proposed interpretation of “actual delivery” for cryptocurrency is not final and is subject to a 90-day public comment period, which begins when the interpretation be officially published in the Federal register.
We will remind that the Chairman of the CFTC George. Christopher Giancarlo (J. Christopher Giancarlo) recently admitted that the cryptocurrency is not like anything, what previously had to face the controller.
Cryptocurrency exchange Bittrex will hold the delisting Bitcoin Gold. The reason for this decision was the refusal of the developers of cryptocurrency to pay 12 372 BTG (about $263 million) for the right to stay on the platform. This is stated in the statement of the project team, published 1 Sep.
According to information on the website Bittrex delist will be held on September 14.
This amount had to cover the losses from Bittrex attack double spending made on the Bitcoin network Gold may 19. The developers BTG noted that the claims file was not removed, despite their repeated attempts to help the exchange and that the risk of re-attack no more.
In this case Bittrex agreed to repay part of this sum from its own reserves BTG, and the remainder (about 6000 BTG) has offered to pay the team Bitcoin Gold. But they refused.
The developers of cryptocurrency stated that for a profitable exchange, it may be a small amount but for the project – significant.
According to Bitcoin Gold, delisting on Bittrex cryptocurrency is unlikely to have a significant impact on the ecosystem of the BTG, as in recent months, the market is not a leading marketplace for trading Aldona. The main volume of trading Bitcoin Gold now falls on HitBTC, Bithumb, Binance, Bitinka and Bitfinex.
Martin Weiss (Martin Weiss), the founder of Weiss Ratings, and Weiss Ratings Cryptocurrency, challenged the statements of Warren Buffett (Warren Buffett) that cryptocurrencies are «rat poison in the square» and have no value.
According to Weiss, «many authoritative experts in the field of investment and Finance to underestimate the huge benefits of cryptocurrencies, in terms of speed, security and decentralization».
In his opinion, cryptocurrencies have significant value at three levels:
- The intrinsic worth of. Investors and users get a share of the global platform, created based on the technology of distributed registry and has a huge computational power.
- The exchange value. It is a proven quality, and this value will continue to grow as scriptually will become much more widely used in different transactions – how to exchange traditional currency for obtaining goods and services.
- Monetary system. Selected kripaluji could be the main new digital monetary system, with a potential for greater stability and less prone to manipulation by governments.
Recall that in January, the independent rating Agency Weiss Ratings introduced the report with some of the leading cryptocurrency. It contained ratings of the 74th virtual currencies. Highest rating – «A», lower «D». Bitcoin in this rating received a measure of tolerance «C+» (satisfactory), and Ethereum Is a «b» (good).
According Similarweb, after the peak in attendance of sites of kriptonite, which peaked in December-January, in February, users were two times less likely to log into their accounts on these services. The same level of attendance was noted in November 2017.
For example, if in December, Coinbase recorded 169,5 million visits, and in January -123,5 million, in February — 63.1 million, which is 49% less.
The site of the crypto currency exchange Kraken attendance has fallen by 56%, from 31.7 million visits in January one reached 13.8 million in February. Have Binance, this figure sank by 54%, from 191.5 million to 87.3 million visits. And Bitfinex by 48%, from 35.4 million in January to 18.3 million in February, despite the fact that in December, the exchange was 59.3 million visits of users.
Experts attribute this to the sluggish dynamics on the cryptocurrency market in the beginning of 2018, and also consider that while price growth at the end of 207 years in the industry has included the maximum number of potential market participants. In addition, data about site traffic exchanges can be associated with a General decline in the number of transactions in the bitcoin network.
Recall that the traders who use technical analysis of the market, are more and more indicators pointing to the fact that the price of bitcoin may fall even more. Today, according to CoinMarketCap, it is about $8486 per unit.