Bitcoin News
By Steven Anderson
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BTC/USD exhibited a resistance level at $10,575 and $10,700 respectively; however, confluences have not been detected.
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The recently conducted G-20 summit took place in Osaka, Japan, and they will be adopting the standard set by the Financial Action Task Force (FATF).
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"When these standards are into effect, interexchange transactions will require transparency regarding senders and receivers of cryptocurrency.”
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This will lead to a lot of scrutinies from the regulators eventually warranting a need to probe different ledgers to identify illicit participants from crypto exchanges, hacks,…
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Yang further stated, “It’s like trying to deposit money in a bank that is from a drug cartel or criminal enterprise; banks will refuse to process transactions.”
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China prefers virgin Bitcoin, and the mining industry in China is thriving well. Yang further stated that the actual buyers are from the US and other regulated areas.
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Buyers buy these coins in approval of its novelty and by perceiving the ease-of-compliance associated with the token in a situation involving regulatory uncertainty.
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In reality, virgin Bitcoin will not help family funds or individuals making the buy, but there is more confidence in virgin coins, and therefore, this coin fetches high premiums.
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The transaction history of the Bitcoin might reveal whether it has passed through a host of illegal pathways or money laundering attempts.
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CEO of CipherTrace stated, “While this is less likely to affect those holding small amounts, larger traders could potentially, and unwittingly, hold larger amounts of stolen…
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This is noteworthy because even a single shady transaction might render the coins from an entire cryptocurrency exchange to appear shady.
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The new question doing the rounds now in the market is on whether Donald Trump can ban the Bitcoin? Several investors have a knee jerk on listening to this proposition.
The Currency Analytics
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