Crypto Guides, Knowledge & Insights

South Korea’s 4 Biggest Crypto Exchanges to Adopt FATF’s Travel Rule

The “big four” South Korean crypto exchanges have signed a Memorandum of Understanding (MOU) deal that will see them jointly implement the Financial Action Task Force (FATF)s Travel Rule.　　The group of exchanges, which comprises the market-leading Upbit and Bithumb, as well as Korbit and Coinbit, are all thought to be on course to beat a September 24 deadline to obtain regulatory approval from the Financial Services Commission (FSC), which will conduct spot-checks of trading platforms in the coming weeks.　　The Travel Rule essentially means that crypto trading platforms must share transaction identifying information with one another, and with financial institutions and obliged entities – and must be able to guarantee the accuracy of the data they share with one other. Data such as national security or identity numbers must be shared, along with customers‘ and recipients’ real names, in a measure designed to remove anonymity and reduce the risk of money laundering.　　The four exchanges, per KBS, will look to launch their Travel Rule compliance solutions before the year is out.　　“This is just another example of the big fours exceptionalism,” a senior official at a rival trading platform told Cryptonews.com. The official, who asked not to be named and for the name

2021-07-02Deep Dive

Jom Belajar Cara Pilih Crypto Untuk Melabur

Bitcoin adalah cryptocurrency. Bitcoin adalah mata wang terbesar dengan permodalan pasaran. Tetapi adakah cryptocurrency lain di pasaran boleh menjadi bitcoin seterusnya atau mungkin lebih besar daripada itu？ Ya, ada seperti Ethereum (ETH), Litecoin, Bitcoin Cash, Ripple, Poligon India (MATIC), Cardano (ADA), Polkadot (DOT) dan banyak lagi yang ada di sekitar. Kemudian ada token yang menjanjikan untuk menghantar anda ke bulan Tetapi anda tanyakan pada diri sendiri, siapa yang akan membawa anda kembali？　　Jadi, sama seperti kepelbagaian dalam portfolio saham atau dana bersama, bagaimana anda perlu membuat indeks kripto anda sendiri untuk mempelbagaikan？ Mari kita fahami parameter yang harus digunakan sebelum anda melabur dalam cryptocurrency:　　Jumlah bekalan dan peredaran　　Lihat permodalan pasaran dan jumlah peredaran koin tertentu. Pembekalan duit syiling menandakan jumlah koin maksimum yang dapat memasuki pasaran dan peredarannya bermaksud jumlah syiling yang ada di pasaran. Memahami aspek-aspek ini sangat penting untuk menilai sebarang projek crypto. Sekiranya koin tidak terbatas, yang bermaksud ia mempunyai penawaran yang tidak terhad, maka, berdasarkan teori permintaan dan penawaran, apa-apa yang tidak langka mungkin tidak memberikan harga yang baik, asalkan ada permintaan yang baik. Seperti yang anda ketahui, bekalan Bitcoin secara keseluruhan terhad kepada 21 juta syiling yang pernah dapat dilombong.　　Pump and Dump: Lihat pergerakan harga　　Perhatikan pergerakan harga

2021-07-02Deep Dive

New German Law opens the gate for $415 billion crypto allocation

A new German law introduced and approved in April this year is coming into effect from today. Germanys Fund Allocation law could potentially open the gates for $415 billion in crypto allocations by thousands of institutional funds in the country. The law allocation institutional funds to allocate 20% of their portfolio into crypto assets.　　Germany has a total of 4,000 Spezialfonds or special funds with $1.8 trillion in combined assets under management. If these funds decide to allocate the whole 20% towards crypto under the new law, it would lead to nearly €350 billion or $415 billion in crypto inflow.　　Germany is seen as the economically strongest member in the Eurozone and an allocation of such value could persuade other European nations to follow in their footsteps. Europe is already leading the crypto charge with its compliant regulatory policies and different countries are also working towards their CBDC. Recently France and Switzerland also carried out their first cross-border CBDC trials.　　Germany is Leading the Crypto Charge in Europe　　Germany is increasingly looking at a potential future in cryptocurrencies and expanding the country‘s exposure to digital assets via favorable crypto regulations. BaFin, the country’s top regulatory watchdog recently issued the first crypto custody license to

2021-07-02Deep Dive

Why Twitter’s Jack Dorsey Still Has Zero Interest In Ethereum

The CEO of Twitter and Square Jack Dorsey is a dyed-in-the-wool bitcoin maximalist. While the Crypto Twitter community has been relentlessly recommending altcoins to Dorsey, his love affair with bitcoin — and not any other cryptocurrencies — has only grown deeper.　　Bitcoin All The Way For Dorsey　　Today, the CEO has once again ruled out the possibility of him or one of his companies getting involved with the worlds second-largest cryptocurrency, Ethereum.　　A Twitter user going by the online alias packanimalETH suggested that since Dorsey has followed udiWertheimer and jebus911, it‘s only a matter of time before he invests in ethereum. To no one’s surprise, Dorsey responded with a resounding “no”.　　Dorsey, a man who called bitcoins whitepaper “poetry”, gave the same single-worded response back in February 2019 when he was asked about Ethereum.　　During the 2021 Miami Bitcoin Conference, Dorsey asserted that bitcoin “absolutely changes everything” and is currently the most important thing to work on in his lifetime. He added that other cryptocurrencies “dont factor in at all” for him.　　Dorsey has always maintained that his focus is on making bitcoin the native currency of the internet and thats why he does not deal with other crypto assets. In fact, Dorsey has admitted that

2021-07-02Deep Dive

Industrial-Grade Front-Running In an Age of Military-Grade Apathy

It is well-known that poor trading conduct is commonplace across the cryptocurrency markets. Unfortunately, there isnt much to speak of in terms of enforcement.　　In addition, wholesale market conduct regulation doesnt seem to be forthcoming. This leaves innocent market participants with little option but to turn a blind eye and carry on swimming through the glue.　　It is therefore up to us to do something about it in the meantime. Interim solutions are possible. However, if we attempt to start penalizing abusive trading behavior in the absence of regulation, we need to come together as an industry. We need to agree on a common set of principles, and effectively “cold-shoulder” the bad actors out of the market.　　This kind of self-regulation sounds almost unachievable at face value, but it‘s not like it hasn’t been done before. Fair trading rules are commonplace on almost all mainstream financial markets venues. Many trade surveillance tools offer an array of market manipulation scenarios off the shelf.　　 Adopting well-trodden standards　　Author Dale Carnegie once said that “inaction breeds doubt and fear, action breeds confidence and courage.” With this in mind, the financial “old-world” gives us plenty of precedents on which to base action.　　For a start, we could take elements

2021-07-02Deep Dive

Bitcoin ABC Rebrands to eCash, Becomes the First Bitcoin-Based Network to Offer Staking

The developers of Bitcoin ABC announced the start of a rebranding campaign that is set to coincide with the launch of a new project – eCash – aiming at redefining digital money. The Bitcoin ABC project will officially change its name to eCash and the token will be renamed from BCHA to XEC on July 1 at 12 PM UTC.　　As stated in the renewed website, eCash is the natural continuation of the Bitcoin Cash project, which is led by Amaury Sechet, a former Facebook engineer and Bitcoin pioneer, who has had a significant impact on the development of Bitcoin and is the creator of Bitcoin Cash. Sechet parted ways with Roger Ver in 2020 and created Bitcoin ABC to realize Nakamotos original plan of building a cryptocurrency that might be as usable as cash.　　After dedicating over a year of work to the project, Amaury is relaunching Bitcoin ABC as eCash, which, to date, is the only project aiming to build hard digital cash that scales and is secure with low latency. Realizing the vision of the US economist Milton Friedman, eCash follows through on key promises such as the innovative Avalanche consensus layer while also introducing concepts never before seen

2021-07-02Deep Dive

Is Elon Musk Losing His Edge? Tweets Fail To Move DOGE Prices

For the first time, it seems Elon Musks tweets have no effect on Doge. The billionaire had tweeted earlier about doge but this time, there was no reaction from the coin. In fact, the coin is down 2% since the tweet went live.　　Musk is notoriously known for pushing the price of Doge with his tweets. His tweets were single-handedly responsible for pushing the price of the coin up over 20,000 percent. The price of Doge would shoot up minutes after each tweet went live from the last couple of months. Leading to concerns of insider trading, which yielded nothing useful.　　But now, Musks tweet has failed to move the price of the coin. Elon Musk had earlier tweeted “Release the Doge” but the coin has refused to move.　　So, this leads us to the question, has Musk lost his edge over Dogecoin？　　Month-Long Hiatus　　Musk had seemingly taken a break from tweeting about Dogecoin since May. After a final tweet promoting Dogecoin towards the end of May, Musk stopped tweeting about Doge entirely.　　No one knows for sure the reason for the break. But it was during this period that Tesla had announced that they would stop accepting Bitcoin payments. The CEO had clarified that

2021-07-02Deep Dive

Skybridge Capital to Launch an Ethereum Fund and File for Ether ETF

Skybridge Capital, a global alternative investment fund based out of New York is launchING its first Ethereum fund today. The firm has already invested nearly $500 million in Bitcoin and now looking to expand into Ethereum. Anthony Scaramucci, the founder and CEO of the firm revealed the plans this week during a podcast appearance.　　Apart from a private Ethereum Fund Scarasmucci also revealed the investment funds plans of filing for an Ether ETF with dwelling into fine details. His firm has already filed for a Bitcoin ETF with the US SEC which is yet to be approved. The US SEC has received multiple Bitcoin ETF applications and a couple of Ether ETF proposals but hasnt approved any of them.　　Scaramucci said,“July 1st […] we‘re launching a private ether fund, We’ll file for an ETF for ethereum, again it‘s anybody’s guess when those things will be going. If you had asked me back in May of last year ‘When are we going to have an ETF’, I wouldve thought it would have been by now”　　Amid Growing Number of ETF Proposals, Will SEC Take a Road Never Taken Before？　　The US SEC is infamous for its hardline approach toward crypto institutional products especially ETFs and

2021-07-02Deep Dive

Bitcoin records second-highest block generation time in 11 years

Bitcoin networks mining metrics have taken a significant hit post exodus of miners from China. Since a majority of Bitcoin miners were located in China and had to either close or relocate in light of the latest crackdown from Beijing, the Bitcoin network suffered a 50% fall in mining hashrate. The decline in mining power has subsequently lead to an extension in Bitcoin block generation time.　　On July 1st, the block generation time for block number 689301 reached 139 minutes, the second-longest time since the launch of the Bitcoin network.　　Apart from the second-longest block generation, the average time for each block also increased to over 21 minutes from the usual 10 minutes. The shutting down of some of the biggest mining farms in China is believed to be the reason behind the recent Bitcoin networks hashrate decline and the subsequent effect on key metrics.　　Why Chinas mining exodus good for Bitcoin？　　The biggest criticism against Bitcoin mining was the centralization in hashpower input due to the high concentration of miners in China. The recent crackdown has possibly led to resolve the biggest concern of the Bitcoin community despite the short-term issues such as high block generation time and reduced miner profits. The miner

2021-07-02Deep Dive

FinCEN lists cryptocurrencies as top AML and CFT priorities

FinCEN will soon issue regulations on how financial institutions should incorporate its priorities on crypto considerations into their AML programs.　　The United States Financial Crimes Enforcement Network will continue to closely follow the cryptocurrency industry as one of its top priorities for combating crimes like money laundering.　　FinCEN officially announced Thursday that “virtual currency considerations,” or operations involving cryptocurrencies like Bitcoin (BTC), will be among its top national priorities for countering terrorism financing and ensuring proper Anti-Money Laundering policies.　　“The establishment of these priorities is intended to assist all covered institutions in their efforts to meet their obligations” under related laws and regulations, the regulator said. FinCEN elaborated that it will soon issue regulations to specify how financial institutions should incorporate these priorities into their AML programs.　　“FinCEN recognizes that not every priority will be relevant to every covered institution, but each covered institution should, upon the effective date of future regulations to be promulgated in connection with these priorities, review and incorporate, as appropriate, each priority based on the institutions broader risk-based AML program,” the authority noted.　　Referring to cryptocurrencies as “convertible virtual currencies,” or CVCs, FinCEN pointed out that such assets became the “currency of preference in a wide variety of online illicit

2021-07-02Deep Dive

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