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U.S. Treasury Releases Proposed Rules; Hiring Crypto Policy Officers

The  U.S. Treasury has released its proposal to restrict money services businesses pertaining to dealing with self-hosted wallets. In the announcement, published by the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN arm, the regulator announced recommended rules demanding enrolled crypto exchanges to verify the “identity of their customers, if a counterparty uses an unhosted… Read More

Senator Cynthia Lummis Says Bitcoin Could Save Us If Traditional System Collapses

Senator-elect Cynthia Lummis believes that the events of 2020 has sent the overall economy into a downward spiral due to relief efforts for the pandemic and other underlying factors. Lummis further postulates that if the debt-driven traditional system collapses, Bitcoin will become needed and could save us. “If we reach the point where we have… Read More

Billionaire Hedge Fund Manager Says He “Might Be Missing Something About Bitcoin”

In a Twitter thread American billionaire hedge fund manager and philanthropist, Ray Dalio concluded that Bitcoin (BTC) is not an adequate medium of exchange nor a store of value due to its volatility. He also stated that governments could outlaw crypto assets if they became a threat to fiat currencies. Though, he also acknowledged he… Read More

Bitcoin Gets Two New Major Code Improvements

The two proposals Schnorr and Taproot were merged into Bitcoin Core last week and will be implemented at a later time. According to commit history on Github, Bitcoin has just had a silent update pushed into its code which will become active at a later date. When activated, the two code proposals will bring about… Read More

Monetary Authority of Singapore MAS Further Defines Crypto Regulations

The new Payment Services Act from the Monetary Authority of Singapore MAS will require that crypto business obtain a license. In fact, there are three kinds of licenses that crypto businesses will need to choose from, in order to continue doing business legally in Singapore. The three classes of licenses are: a major payment institution,… Read More

Fifth Anti-Money Laundering Directive (5AMLD) hits Crypto Businesses

The European Union’s 5th Anti-Money Laundering Directive (5AMLD) will be in effect from January 10, 2020. The regulation was crafted to bring increased transparency to financial transactions, and is aimed at curbing money laundering and terrorist financing across Europe. 5AMLD pushes back against money laundering and terrorism financing by making crypto transactions less secret, and… Read More

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