November 27, 2020

Cryptheory

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Crypto News of the Day (10.1.)| Elon Musk: Bitcoin is not my “safe word” • Stricter AMLD5 rules apply in the EU today • and more

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Crypto News of the Day (10.1.)|  Elon Musk: Bitcoin is not my “safe word” • Stricter AMLD5 rules apply in the EU today • and more
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Here you can find an overview of the most important crypto events in the last 24 hours.

Markets


The mood on the cryptomarkets after the last steep fluctuations, caused by the geopolitical situation and nervousness of further development, is again heading towards loss. Bitcoin fell below $ 7,500. Altcoins also lose, with some exceptions like Cosmos.

You can monitor the current cryptocurrency prices – here.

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Cryptocurrencies

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Mining

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Regulation

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Blockchain/Technology

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Elon Musk tweeted about Bitcoin that this is not his “safe word”

This morning, Elon Musk threw a bitcoin bomb on Twitter… again. CEO SpaceX and Tesla wrote that Bitcoin “is not my safe word”. Unsurprisingly, this tweet stirred up a turbulent debate in the cryptocommunity. For example, people also suggest that Elon introduce his own cryptocurrency.

Crypto News of the Day (10.1.)|  Elon Musk: Bitcoin is not my “safe word” • Stricter AMLD5 rules apply in the EU today • and more

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Ethereum, TRON and EOS reached a total of USD 23 billion in trading volumes in various dApps last year

Decentralized applications had a breakthrough year in 2019, when dApps on Ethereum, Tron, and EOS blockchains rose to approximately $ 23 billion in transaction volume. The data analysis website reports that the three leading smart contract platforms accounted for more than 98% of total dApps activity in the entire blockchain industry: Ethereum reached $ 12.8 billion per year, while EOS recorded transactions of $ 6 billion and Tron just over $ 4 billion dollars.

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BSV and BCH miners will be severely lost after the upcoming halving

The miners for the two blockchains, which broke off from Bitcoin in a rather controversial way, work altruistically to support the chain. In addition, both chains boast much cheaper transactions, which means very low additional fees for miners. Added to this are the relatively compressed market prices of BCH and BSV. After the last fall in prices, BCH returned to approximately $ 236.28. BSV was traded for $ 116.47. The reason for this already unprofitable mining is unknown. Prices may increase in the future. Both projects have very loud communities, claiming that their coins are better than bitcoins due to larger blocks and lower fees. However, halving will soon occur on these cryptocurrencies and then the miners will be heavily lost if the cost of the coins does not increase.

Crypto News of the Day (10.1.)|  Elon Musk: Bitcoin is not my “safe word” • Stricter AMLD5 rules apply in the EU today • and more

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Today, stricter AMLD5 rules are in force in the EU

Friday marks the end of the deadline for the 28 member states of the European Union to adopt the Fifth Anti-Money Laundering Directive, or AMLD5. The new rules require cryptobanks and depository service providers to register with their local regulator and demonstrate compliance with KYC and AML anti-money laundering practices. In addition to KYC’s extended reporting and reporting obligations, the new rules provide greater power and reach for law enforcement financial regulators. The new regulations are a double-edged sword for industry. On the one hand, the additional compliance costs may be burdened by smaller firms, but on the other hand, a more transparent environment for the crypto industry can benefit.

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Last year, 2,351 new bitcoin ATMs were installed, leading the US

According to LearnBonds.com, the United States has been a leader in bitcoin ATMs since January 2020 and does not seem to change soon. The United States has 66% of all these ATMs around the world. The expansion of bitcoin ATMs last year was astounding. Last year, 2,351 new bitcoin ATMs were installed worldwide. This is an increase of more than 50%. Obviously, they are profitable, otherwise expansion would not be so drastic. Asia is far behind in the US. The whole continent has only 133 bitcoin ATMs. This is only 2.1% of the total number of machines worldwide.

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Spanish Telefónica tests blockchain in 8,000 companies

The Spanish telecommunications giant Telefónica is said to have partnered with the local association of science and technology parks (APTE) to provide access to its blockchain to some 8,000 companies in Spain. According to a report released by TotalTele on January 9, Telefónica will deploy the nodes of its Hyperledger-based blockchain on 52 APTE sites.

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Virgil Griffith, arrested for ETH training in North Korea, released on bail

Virgil Griffith was now released on bail the day after he was formally charged in the case of North Korea. His release was postponed by 10 days without any explanation. He was to be released on December 30th.

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