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CAMPAIGN RECOGNITION: Andrew Yang has become the first U.S. presidential candidate to publish a crypto regulation platform, pledging to "create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift." While he notes that there are a number of areas that need clarity, the three main focuses are: digital asset markets are evolving more quickly than regulations; states have conflicting rules; and a lack of clarity as to how the federal regulatory framework will develop is causing innovation to lag. Full Story
ETHEREUM V POLKADOT: In two weeks, token-holders for the Aragon project will vote to determine whether any of the startup’s funds can be invested in Polkadot, or whether it must all be dedicated to building on ethereum. Specifically, holders will vote on two Aragon Governance Proposals. AGP 42, submitted by Spankchain CEO Ameen Soleimani, would “restrict Aragon from spending money on Polkadot development in any way, shape or form,” while AGP 41, submitted by the Web3Foundation, would let the project hedge up to $1.5 million in native Polkadot tokens. Full Story
FINCEN FIRST: The Financial Crimes Enforcement Network (FinCEN) has penalized crypto trader Eric Powers for failing to comply with the Bank Secrecy Act (BSA), alleging that he conducted more than 360 money transactions with both fiat and bitcoin without filing any currency transaction reports or reporting suspicious transactions. Powers admitted to the violations and will pay a $35,000 fine, and is now banned from providing money transmission services in the future. Full Story
‘MANY DEFICIENCIES’: The New York Department of Financial Services (NYDFS) continually provided guidance to Seattle-based crypto exchange Bittrex prior to rejecting its application for a BitLicense, writes NYDFS executive deputy superintendent Shirin Emami in an opinion submission. She says Bittrex “continues to misstate the facts and it presents a misleading picture about the denial.” For its part, Bittrex claims NYDFS is “overstepping its regulatory authority” and that the regulator’s “combative stance” only began after the exchange tried to negotiate a proposed supervisory agreement. Full Story |
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| LOOKING UP? Bitcoin's quick bounce from newly established support near $5,170 has neutralized the bearish view put forward by the hourly chart earlier today. While prices are struggling to rise above $5,300, a violation there may entice buyers and bring about a re-test of recent highs above $5,400. Full Story |
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BEST OF THE BEST
BSV BLOCKS: The Bitcoin SV (BSV) cryptocurrency may be suffering from having increased its block size to 128 MB, The Next Web reports. The blockchain network was afflicted by a number of block re-organizations yesterday, with larger blocks being particularly prone to the issue. BSV was also hit with a re-org in November, the piece says. While it’s not clear if an attack caused the problems (following recent online feuding between the crypto’s founder and some in the community), regular re-orgs are bad for a network, since conflicting block histories can have “devastating” consequences, according to TNW. THE RESTGERRY'S FRIEND: QuadrigaCX founder Gerald Cotten anticipated that he may be kidnapped or otherwise harmed due to the $200 million (CAD) that he held in his exchange prior to his untimely death in December, according to Adam O'Brien, a former colleague and friend. O'Brien told Global News he does not believe that Cotten faked his death (as some conspiracy theories claim), and unless the Quadriga founder set up a dead man's switch of some sort, customers are unlikely to receive their missing cryptos again.
UNINTENDED CONSEQUENCES? Crypto exchanges are rushing to delist bitcoin cash Satoshi's Vision (BSV) after creator Crag Wright sent legal threats to individuals claiming he is not Satoshi Nakamoto, the pseudonymous creator of bitcoin. As a result, BSV's price has plummeted, falling from $73.50 to $54.24 (before rebounding – slightly), according to Finance Magnates. However, while this move may satisfy BSV opponents, the individuals most impacted by the delistings are those who hold the crypto, rather than Wright himself.
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WHO WON #CRYPTOTWITTER  |
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