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Are Cryptocurrencies A Threat To Fiat Money? What Does the Statement...

Cryptocurrency news today – 2019 has seen the rise of bitcoin at an exponential rate. At the beginning of the year, it was under $3,000. By June, it had more than tripled — reaching a close to about $14,000. In the early stages of 2019, it was altcoin that performed strongly in the crypto market during the period dubbed as “altseason”. Altcoin’s performance seems to be on a gradual decrease when compared to other cryptocurrencies ever since Bitcoin started its resurgence on “April Fool’s day rally”. The debate on everyone’s lips is whether the Altcoin market will also feel the price gains observed in Bitcoin during this bullish cycle that is still extant. Some say Bitcoin cycles will continue to increase while Altcoin will suffer a gradual decrease while others say Altcoin will bounce back when Bitcoin begins to experience bullish fatigue. Cryptocurrency Latest Update – Bitcoin News Today – Cryptocurrencies Are Part Of A Global Currency War In cryptocurrency latest updates, Chiliz, a ..

US SEC and FINRA Issue Statement on Crypto Custody Issues

The U.S. SEC and FINRA have issued a statement on regulatory compliance issues for crypto custodians. The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) outlined regulatory compliance issues for cryptocurrency custodians in an announcement on July 8. According to the joint statement, the organizations have yet to discover a set of circumstances in which a crypto custodian could comply with the SEC’s Customer Protection Rule, which is described as follows: “Put simply, the Customer Protection Rule requires broker-dealers to safeguard customer assets and to keep customer assets separate from the firm’s assets, thus increasing the likelihood that customers’ securities and cash can be returned to them in the event of the broker-dealer’s failure.” The report further claims that a crypto custody service may not be able to sufficiently demonstrate that it actually controls the assets it purports to hold. The SEC and FINRA discus..

G20 Leaders Reaffirm Position on Cryptocurrencies in Statement

G20 leaders reaffirmed their previous stance towards cryptocurrencies in a declaration released after the G20 Summit in Osaka on June 29. G20 leaders reaffirmed their previous stance towards cryptocurrencies in a declaration following the G20 Summit in Osaka on June 29 In the declaration, the G20 leaders state that cryptocurrencies do not currently constitute a threat to monetary stability, and that technological innovation can deliver significant benefit to the economy. The participants also welcome the ongoing work on those assets by the Financial Stability Board and other standard setting bodies, and encourages multilateral responses when needed. The authors of the declaration also reaffirm their determination to comply with the updated Financial Action Task Force anti-money laundering and countering terrorism financing standards for cryptocurrencies. The document notes that the co-signers are also continuing to step up their commitments to enhance cybersecurity. The contents of th..

Coinbase Issues Statement Clarifying It Doesn’t Engage in Proprietary Trading

Major U.S. crypto wallet provider and exchange service Coinbase has refuted “inaccurate” media reports that the platform engages in proprietary trading. Major U.S. crypto wallet provider and exchange service Coinbase has refuted “inaccurate” media reports that the platform engages in proprietary trading, in an official statement published Thursday, September 20. According to Coinbase, media coverage has “inaccurately characterized” the results of the New York Virtual Markets Integrity Report, to which Coinbase had voluntarily contributed information about its practices by participating in a Virtual Markets Integrity Initiative Questionnaire. Coinbase yesterday cited the report, with the view to “correct the record”: “The report states: ‘Coinbase disclosed that almost twenty percent of executed volume on its platform was attributable to its own trading.’” However, as per Coinbase’s clarification, “when Coinbase executes these trades, it does so on behalf of Coinbase Consumer customers,..
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