Commissioner: SEC Shouldn't Hold Back in Approving Crypto Products
- The US Securities and Exchange Commission (SEC) commissioner Hester Peirce has stated that the government should not limit the emergence of new products in the crypto market based on the perceived weaknesses of Bitcoin.
- The issue of Peirce with the decision of the SEC, which she explicitly described through a letter of dissent, is that the SEC justified the rejection of the Winklevoss Bitcoin ETF by stating that the evaluation of Bitcoin or blockchain technology as an investment or innovation was not involved in the process of disapproving the ETF.
- Crucially, commissioner Peirce explained that, as of current, the cryptocurrency exchange market remains inaccessible to many investors, and it requires a specific set of knowledge and know-how to invest in the crypto market.
Ethereum DApp Bancor is Building a Bridge to the EOS Network
- Bancor, a decentralized cryptocurrency exchange (DEX) protocol and one of the most popular decentralized applications (dApps) on the Ethereum network, has announced that it will bring trustless token trading to the recently-launched EOS blockchain.
- Funded through an initial coin offering (ICO) that raised a then-record $153 million in 2017, Bancor averages around 350 daily active users, which — though low compared to centralized exchanges — ranks it among the most popular DApps in the cryptocurrency ecosystem, according to DappRadar.
- Using the Bancor protocol as an intermediary, users will be able to trustlessly exchange between tokens that run on the EOS blockchain.
- The current version of the announcement includes few details about Bancor’s EOS dApp. However, an earlier, more detailed version of the LiquidEOS blog post referred to the new platform as EOSX Liquidity Network, while also including a graphic that used the name BancorX.
Bitcoin Price Intraday Analysis: BTC/USD Hinting Reversal towards $6500
- As a result, BTC/USD formed higher highs towards 6384-fiat, while eyeing 6400-fiat as its potential upside target.
- Nevertheless, with the US session still in play, the pair has corrected back while testing 6300-fiat as its next potential support level.
- A breakout scenario cannot be confirmed up until BTC/USD invalidates its psychological resistance near 6500-fiat – also coinciding with a long towards the triangle resistance.
- That said, the ascending triangle support could play a vital role in reversing the trend towards 6500-fiat.
- Our first action is to wait for BTC/USD to break below 6300-fiat and open a path of least support towards triangle support.
- A breakout scenario above 6400-fiat will have put a similar long position towards 6500-fiat, our primary upside target.
- We will also be looking out for a triangle breakout scenario to retest 6600-fiat.
France Accepts New ICO Framework to Become Europe’s Leading ICO Hub
- An Initial Coin Offering (ICO) framework proposed by French financial market regulators AMF (l’Autorité des marchés financiers) has been accepted in parliament.
- France’s Minister for the Economy and Finance, Bruno Le Maire, confirmed the acceptance of the legal ICO framework in a recent tweet.
- The new ICO visa will enable legitimate projects to more easily access services from banks and accounting firms, which to date has been difficult due to the regulatory uncertainty in the sector.
- France’s new legal ICO framework is part of a greater push from the government to keep French blockchain projects within the nation by providing greater clarity and certainty around ICO regulations.
- Further regulations are still required for this nascent space, however, there is little doubt that French authorities have a positive attitude and outlook when it comes to the future of blockchain technology and cryptocurrencies overall.
Vigilante Botnet Infects Computers to Remove Cryptocurrency Malware
- CCN has reported before on how botnets infected millions of computers last year with cryptojacking software designed to siphon CPU power for and use it to secretly mine crypto for the malware owners.
- While the term botnet understandably carries a malicious connotation, one botnet seems to be breaking the mold and is seemingly forcing its way into user computers without to infect them – with crypto antivirus software.
- The botnet cleanses the ‘infected’ computers of the notoriously widespread cryptojacking malware and so far doesn’t seem to be leaving anything behind in its place, leading some to believe that the botnet may even be designed with that single benign purpose in mind.
- Botnets take time, effort, and funding to operate which makes it hard to believe that an anonymous botnet could be working out there simply to help people.
Tether Transactions Resume Following Incident with Omni API
- Tether (USDT), the eighth-largest cryptocurrency and the second most-traded coin behind bitcoin, is functioning as normal following an incident with the engine that feeds data from the underlying Omni protocol to the platform’s hosted node services.
- Omni developers said that the issue stemmed, not from any problem with the platform’s actual protocol, but with the parsing engine that feeds data to Omni Explorer and Omniwallet.
- They said that the issue was isolated to the platform’s hosted services, meaning that full node operators were unaffected.
- The characteristically tight-lipped Tether did not address the matter publicly, other than to retweet Omni’s initial post stating that it had identified an issue with the parsing engine that feeds data to the wallet and blockchain explorer.
- Nevertheless, it seems that many applications and services that support tether, including exchanges, were using Omni’s free hosted API service rather than running their own full nodes.
Ripple Price Intraday Analysis: XRP/USD Rises 23 Percent
- And as the US session comes into play, the pair has already established a new intraday high near 0.32859.
- There could be a possible sell-off if those with long positions towards near-term upside targets start exit on high intraday profits.
- Nevertheless, in long-term, Ripple has psychologically established itself as a major blockchain giant which could assist the value of XRP tokens.
- The abnormal rally has already done a breakout action on the long-term descending triangle, substantially switching the bias from bear to bull within a matter of hours.
- Ripple Labs, the company behind the XRP token, gained a new member for its flagship blockchain network in The National Commercial Bank.
- We will initially be expecting a run towards 0.33708-fiat before XRP/USD decides on whether it wants to attempt a breakout or a pullback action.
Kidnapped South African Tycoon Released for 50 Bitcoins Ransom: Report
- The Cape Town businessman was kidnapped a little over two months ago and his captors reportedly demanded 50 bitcoins before they could release him according to The South African.
- Last year in December, for instance, an analyst at crypto exchange EXMO, Pavel Lerner, was kidnapped in the Ukrainian capital Kiev and a ransom of US$1 million in bitcoin demanded by his captors.
- Unlike in the Liyaqat Parker case where the circumstances of his release remain unclear, the bitcoin ransom for Lerner was actually paid though as CCN reported at the time, it was not clarified whether the ransom was paid by Lerner, his family or his employer.
- Among those the Turkish gang had kidnapped included a flashy businessman from whom they stole 450 bitcoins, which were worth approximately more than US$3 million at the time, before releasing him in an ordeal that lasted about eight hours.
Ethereum, Ripple Surge by 10% Within Minutes, Abnormal Market Activity
- The prices of Ethereum (ETH) and Ripple (XRP) have surged by more than 10 percent in the past five minutes, despite the lack of momentum of major cryptocurrencies like Bitcoin.
- No major announcements or developments were made in the past 12 hours, which led investors to be skeptical towards the abrupt increase in the prices of the two digital assets.
- No credible sources or respected figures in the cryptocurrency market have reported major partnerships or events for Ripple, which suggests that the movement of XRP was solely initiated by the market, unaffected by recent events.
- Given the fact that XRP started to surge in value less than an hour ago, it is far-fetching to claim that the recent announcement made by Ripple led the price of XRP to increase.
Crypto Bloodbath: Bitcoin and Ethereum Record Losses in $10 Billion Wipeout
- Over the past 24 hours, the crypto market has experienced a large sell off as Bitcoin demonstrated a 3 percent drop in price, leading the market to drop $10 billion.
- Analysts at the agency explained that a whale investor who purchased a massive batch of Bitcoin a few years back have started moving the funds.
- It is possible that the sell-off of hundreds of millions of dollars in Bitcoin initiated by one whale investor caused a domino effect across all major cryptocurrency exchanges, causing the market to drop substantially.
- Prior to September 18, major digital assets like Bitcoin and Ethereum demonstrated stability in the low price range, showing signs of a short-term bottom.
- Two days ago, Edward Morra, a respected technical analyst in the crypto space, stated that a drop below the $6,000 support level is not likely for Bitcoin.