📌 2020 Crypto Predictions, Scammers Derail BTC price, and SEC Eases Pathway to Become Accredited

Editor's Note: As 2019 wraps up, this will likely be our last CoinSnacks until January. We hope everyone has a wonderful holiday season and a happy New Years celebration! See you all in 2020! 🍾  MUST READS  🚀 Global BTC Adoption Gets Huge Boost The speed of execution from the Binance team is truly a thing of beauty... The popular crypto exchange announced they are partnering with the peer-to-peer trading platform Paxful to promote the adoption of Bitcoin... As a result of the partnership, Binance users will be able to use Paxful to purchase Bitcoin with 167 fiat currencies. Some of these include the Russian ruble (RUB), the Vietnamese dong (VND), the Indonesian rupiah (IDR), and much more. Binance CEO Changpeng Zhao said that this "marks a significant partnership between a crypto exchange and peer-to-peer platform." The bigger picture? The partnership aims to reach and aid an estimated 2 billion unbanked people worldwide. Furthermore, last week Binance also announced the launch of its fiat gateway for Latin America, dubbed Latamex. The new platform will allow users in Brazil and Argentina to make purchases of cryptocurrency with the Argentinian Peso (ARS) and Brazilian Real (BRL).   Coinfloor Exchange Is Delisting Ether Next Month; Focusing Only on Bitcoin U.K.'s longest-running crypto platform, CoinFloor, has announced that it's planning to delist Ethereum (ETH) in January 2020. Starting on January 3, (Bitcoin's 11th birthday) Coinfloor will focus solely on Bitcoin instead. The exchange explained it was delisting Ethereum due to the asset's unclear future of hard forks and the need for technical support. ...Not a good look for the world's second-largest cryptocurrency.    SPONSORED  NASDAQ: Biotech stock alert The NASDAQ stock exchange is abundant with emerging growth biotech stocks, but there is one company that is on our radar that is targeting the most aggressive type of brain cancer that was developed at the largest cancer treatment and research institute in the world. Click here for more details.    DEEP DIVE  Messari's Crypto Theses for 2020 This monster report (so far the best year in review we've found) covers the top 10 people to watch, narratives to follow, infrastructure and policy updates, Bitcoin, Ethereum, DeFi, Web 3, stablecoin trends, inspiring must reads.... and last but not least, 20 investment theses. It's your mini-encyclopedia for the year ahead. Our favorite slide of it all? ⬇️ (page 14) PlusToken Scammers Didn't Just Steal $2+ Billion Worth of Cryptocurrency. They May Also Be Driving Down the Price of Bitcoin. Blockchain data and analysis firm, Chainalysis, released a report detailing the Chinese-based multiBILLION dollar PlusToken scam, which is likely one of the largest ponzi schemes ever. Chainalysis estimates over 25,000 BTC in proceeds of the scam have already been laundered through OTC brokers, with 20,000 more BTC and over 700,000 ETH still ready to be cashed out. Their data suggests that the criminals behind the PlusToken Ponzi scheme could be driving down the price of Bitcoin when they liquidate their stolen funds via OTC brokers.   Opinion: Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs On a more controversial note, Jill Carlson wrote a 2019 year end opinion piece arguing that crypto is NOT designed for mainstream adoption... Her theory: The sole use-case for cryptocurrencies is for getting around censored transactions. Lots of mixed opinions on this one (exhibit A & B)... Which side do you sit on?    SPONSORED  The 5G Device Every American Must Have This Year A groundbreaking new technology is expected to be in every household in America by the end of this year… This technology has the potential to make over 266 million smartphones become obsolete, forcing nearly every American to switch over to this new "5G Device."    REGULATORY FRONT  SEC Proposes to Update Accredited Investor Definition In a press release issued today, the U.S. Securities and Exchange Commission (SEC) voted to propose amendments to the existing accredited investor definitions. The proposal would allow more investors to participate in private capital markets based on professional knowledge, experience, and certifications rather than just income or net worth. Here's why it really matters...    TWEET OF THE WEEK  Other Articles You May Enjoy The best investment of the decade turned $1 into $90,000... take a guess   Kraken OTC acquires Circle Trade   3 Men Charged in $722M Cryptocurrency Fraud   Hacker steals 1.1 billion VET tokens from the VeChain Foundation   Blockchain project Lisk's (LSK) unit Lightcurve lays off 40% of staff   With hashes and hedges, power-hungry crypto miners court investors   Out of nowhere: Orchid (OXT) is now available on Coinbase Pro   Cardano's Shelley Testnet starts off with more than 5 billion staked ADA   ErisX launches futures market   Crypto exchange BitMex hit with $300M investor suit   a16z announces Crypto Startup School instructors   A new crypto community initiative about on-chain metrics The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. 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Fed: Libra faces 'legal challenges' / Facebook's Libra 'miscalculation' / ECB to assess need for CBDC

Inside Libra presented by EquityMultiple.

Presented by Subscribe | View in browser 1. Lael Brainard, a member of the U.S. Federal Reserve's Board of Governors, has said Facebook's Libra project faces a "core set of legal and regulatory challenges." According to Brainard, Facebook's idea of a stablecoin remains unproven, along with an unclear set of rights for consumers. "Without requisite safeguards, stablecoin networks at global scale may put consumers at risk," she said. She did concede, however, that there are advantages to the technology with lowering costs and increasing the speed of transmitting money, but, she added, there are "advantages associated with current arrangements," in particular with the issuance of physical money. REUTERS       2. Nic Carter, co-founder and board chair of CoinMetrics, has said in an interview that Facebook made a miscalculation with Libra. Carter stated that the social media platform had the idea that they could create something that would result in an international currency through their platform. As can be seen, though, Congress hasn't been open to this idea. In Carter's opinion, Facebook should have taken the "patriotic route" and said that the Libra Reserve would be full of U.S. dollars and only 10 percent of Swiss francs. "But they didn't do that. So, there are consequences," he said. –COIN DESK       A MESSAGE FROM EQUITYMULTIPLE Making Real Estate Investing Simple, Accessible & Transparent. Build a Stronger Portfolio. Looking to diversify beyond stocks & bonds? EquityMultiple provides you access to the kinds of commercial real estate investments that were once open only to institutional investors. Start with just $10k & diversify across markets, property types, & risk/return profiles. Build a better portfolio. Invest Today   3. The European Central Bank (ECB) is to assess the appropriateness of issuing its own central bank digital currency (CBDC) in the new year as Facebook continues to work on its Libra project. The last time the ECB conducted a review was back in 2003; however, since then the world has undergone a digital shift. Christine Lagarde, president of the ECB, has said that the review will take place in January and conclude at the end of 2020. –EURACTIV       4. Stephen S. Poloz, governor of the Bank of Canada, has said that while innovations such as Bitcoin and Libra have global potential they also bring risks to the financial system. In his opinion, these risks first need to be understood and appropriate regulations should be applied to them. He did go on to add, though, that physical banknotes authorized by the government would never be replaced, stating that they "will probably always be around to some degree." –AMB CRYPTO       5. R3 chief David Rutter has indicated that Facebook's Libra will push regulators to take a stand. In his opinion, the social media's plans will "accelerate thinking at central banks and regulators all around," which he sees as a positive thing for the community. –FORKAST       6. The Reserve Bank of Australia (RBA) has said that regulators are struggling with how to regulate Libra. However, the RBA has stated that even if it doesn't go ahead, something similar will be launched in its place. The RBA is of the opinion that Libra will create exchange rate volatility. –AUSTRALIAN FINANCIAL REVIEW       7. This piece questions whether the announcement of Libra has changed the crypto outlook. Despite criticism for the coin, there has been increased interest in the digital space with the likes of China announcing that they are developing their own central bank digital currency (CBDC). –RACONTEUR       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter.         Ad Invest in Exclusive, Expertly Vetted Real Estate. From Anywhere. Start with just $10k.

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