December 5, 2020

Cryptheory

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Crypto News of the Day (3.3.) | Is there a hostile takeover of Steem? Elon Musk identified Doge as the best cryptocurrency of all • and other news

4 min read
Crypto News of the Day (3.3.) | Is there a hostile takeover of Steem? Elon Musk identified Doge as the best cryptocurrency of all • and other news

Here you can find an overview of the most important events that took place during the last day in the cryptoworld.

Markets

 

The financial markets recovered somewhat after the interventions of state national banks, as well as the crypto markets, and are now mostly in green numbers. Bitcoin is currently slightly above $ 8,800 and is growing. In fact, the Hashrate, recorded on March 1, was, according to data provider Coin Metrics, the highest ever we’ve ever witnessed and was $ 136 quintillion hash per second.

 

You can monitor the current cryptocurrency prices – here.

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Cryptocurrency

 

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Crypto exchanges, Banks

 

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Regulations, State digital currencies

 

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Is there a hostile takeover of Steem?

 

TRON and Steemit decided to reverse the recent blockchain softfork, which aims to reduce their ability to influence management decisions. According to some reports, these efforts were blindly supported by major crypto exchanges, such as Binance, Huobi, and Poloniex, because the tokens held by these exchanges were used to reverse the software while maintaining network control.

 

On February 24, Steemit implemented the “Steem Protection” software to disable the voting power of a large number of tokens owned by Steemit and TRON. Yesterday, however, an event that was described as a “hostile takeover” happened, and softfork could not prevent it. Based on the list of accounts launched on March 2, three exchanges managed to pass STEEM 45.6 million.

 

Elon Musk named Doge the best cryptocurrency of all

 

Elon Musk went on Twitter again to tell his followers that he was interested in the crypto industry. CEO Tesly, as last year again, prefers DOGE tokens. Earlier, Musk described cryptocurrencies as a potential cash substitute in a podcast, though he didn’t look too enthusiastic about it. Earlier, Tesla’s CEO also stated that Bitcoin was not his “safe word” – in a tweet that many thought was a joke.

 

 

TenX Visa debit card is now available in Austria and Germany

 

TenX, a blockchain payment application that works with Visa credit card issuer, has announced that its services are now available to customers in Austria and Germany. TenX is licensed to operate these services in Liechtenstein and can thus offer them throughout the EU.

 

US court claims that $ 250 million has disappeared from unnamed exchanges

 

The United States District Court of Columbia called a grand jury to prosecute two people for massive theft of cryptocurrencies. The case entitled “United States v. Tian Yinyin and Li Jiadong” alleges that the two Chinese nationals stole nearly $ 250 million virtual currencies between July 2018 and April 2019.

 

Yinyin and Jiadong had accounts at two different unnamed crypto exchanges. Thus, according to the indictment, the two acted as a licensed money transfer company. All of these companies in the United States are required by law to register.

 

US regulators gathered to discuss about cryptocurrency regulations

 

US Treasury held a meeting yesterday to discuss the challenges of regulating the digital asset space. Industry leaders and compliance experts joined the meeting to discuss ways to prevent the use of cryptocurrencies for money laundering, terrorist financing and other unfair activities. The Ministry of Finance said it would not tolerate the use of cryptocurrencies to support illegal activities.

 

SEC rejected another bitcoin ETF application

 

Securities and Exchange Commission (SEC) rejected a proposal for a bitcoin ETF from Wilshire Phoenix last week. This is the multiple rejection of the ETF license application in a row. In addition, SEC Commissioner Hester Peirce has published a document calling on SEC staff to further oppose these crypto products. However, people in the industry argue that many rejections and a long road to approval are commonplace, which means that the hope for an ETF crypto still exists.

 

German regulator: Bitcoin is a financial instrument

 

The Federal Financial Supervisory Authority in Germany, BAFIN, has issued guidelines to clarify the state of cryptocurrencies and regulations that apply to related business activities. The recommendations are based on the country’s existing legislation and take into account the latest changes. According to the regulator, Bitcoin is a financial instrument.

 

 

 

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