Bitcoin rallies over $8100.00, as market shows moderate gains. FATF coming for crypto?
It's mainly green across the board today as most coins show moderate gains in the last 24 hours. The only exception in the top ten being #Litecoin (#LTC) after the weeks rally. Its is now, trading at $135.
Many expect there to be further gains ahead, as we continue to approach the halving in just over 53 days. See article below warning of a steep drop before the #halving.
In News today:
From NEWSBTC: Litecoin Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet
Throughout most of 2019, Litecoin – the cryptocurrency forked from Bitcoin’s codebase by former Google programmer Charlie Lee – has led the entire crypto space out of the depths of the longest bear market on record. Much of the bullish sentiment surrounding Litecoin price is being driven by pre-halving speculation. Profit-hungry crypto investors have been buying up Litecoin ahead of a potential price increase.
But with Litecoin’s halving less than 60 days away, and with the asset nearing 600% returns for investors who boldly took a risk and bought the bottom back in December in anticipation of the pre-halving pump, the rally may soon be running out of steam. One crypto analyst believes that Litecoin price still has room to climb, but has issued an ominous warning that a potential 73% drop could be ahead in the coming days. Full article link via image above
From Hard Fork: 9 days until the crypto industry must verify the identity of anyone sending $1,000 or more
They state: In just nine days, new rules by the Financial Action Task Force on Money Laundering (FATF) will force cryptocurrency businesses in roughly 200 countries to verify the identities of anyone sending or receiving more than $1,000 worth of digital assets, effectively nullifying their pseudonymity. Full article link via image above
Cryptopolitan also reports:
FATF is by far the biggest hurdle cryptocurrency has to overcome
They report: The regulation of decentralized currency is an essential issue that the world leaders are facing right now. Due to the lack of regulations in this crypto-market, governments are now seeking ways to bring the required regulations in this segment. Financial Action Task Force (FATF) aims to curb all the issues related to money laundering and terror financing units. Now, FATF is striving to bring some innovations on the issue of virtual assets; cryptocurrencies, stablecoin, and centralized digital currencies. FATF has 30 member countries, and the decisions taken at the top immediately effect major cryptocurrency market areas.
The countries who do not fully comply with the FATF terms and conditions can be labeled as Blacklist countries. All said and done; regulations bring various advantages but, there are also certain cons that the people have to face. Full article link via image above.
FROM CCN Jack Dorsey’s Square Crypto Is for Real, Revealing First New Hire
By CCN Markets: Square Crypto, which until now only appeared to exist on social media, is the real deal. It’s been less than a month since Square Crypto announced they were nearing their maiden hire. Now the company made a splash by announcing on Twitter they lassoed Google alum and Silicon Valley angel investor Steve Lee for that distinction. Full article link via image above.
More news tomorrow, keep your crypto sharp people its a fast moving space ;)