1. While Bitcoin corrects its recent growth, well-known cryptocurrency enthusiast John McAfee once again stated that he expects to see a price of $ 1 million by the end of 2020.
«Bitcoin is trading at about $ 10,000, but people are already experiencing. That`s funny! What is the point of watching these small weekly fluctuations? Check the monthly chart. It has grown substantially and I believe that at the end of 2020 people will buy Bitcoin for $ 1 million. But promising altcoins will show growth even more» he wrote on Twitter.
2. Ron Paul said that he loyal to cryptocurrency, because it supports competition in the financial sector.
«I am for the regulators to press as little as possible. I don`t know what the future holds for cryptocurrency further, but this is a great idea. The only rule to follow is no fraud. The government should control precisely fraud. I want to give a free choice» ex-Republican congressman and repeated candidate for the presidency of America said.
3. Alex Kruger, economist and crypto trader, noted that the US president does have the ability to ban cryptocurrency, but he will unlikely do it.
Last week we reported that Trump tweeted: «I’m not a fan of Bitcoin». Kruger believes that he can really close the entry and exit points to the cryptocurrency world for retail and institutional investors, because of which Bitcoin will lose the lion’s share of liquidity. But for this, he will have to convince Congress to take this step. Therefore, a ban is theoretically possible, but unlikely.
4. Meanwhile, on Monday evening, Steven Mnuchin, US Treasury Secretary, initiated a press conference at which the issue of cryptocurrency regulation was discussed. There he said that Trump has serious concerns about the new Facebook initiative- the Libra token.
«This is a national security issue. We must ban digital asset service providers from acting in the shadows».
Mnuchin is of the opinion to Trump’s point of view, which he expressed last week. He criticized Bitcoin and other cryptocurrencies and said that FinCEN, together with the Ministry of Finance, «will set the highest standards for all individuals who carry out transactions in Bitcoin, Libra or any other digital currency».
«Bitcoin has extremely high volatility. We are experiencing because of its speculative nature and we will make every effort to protect the US financial system from fraud» he said.
5. Brad Garlinghaus, director general of fintech-company Ripple, said that Mnuchin had discussed the problem of cryptocurrency with him.
Garlinghouse agreed with the opinion that new digital currencies will not succeed in replacing fiat currencies, at least «not in our era».
«If we want to move on, we must work together with the current financial system and not going against it. Otherwise, we can crush innovation in the United States and allow foreign interests to seize the new sector of the global economy» he said.
Speaking of Libra, Garlinghaus noted that the same requirements and standards that apply to other regulated financial institutions should be presented to this initiative.
6. Omkar Godbole, CoinDesk analyst, believes that the price of Bitcoin may overcome its local maximum if the performance of David Marcus, head of the Facebook cryptocurrency project before the US Senate Committee on Banking, Housing and Urban Affairs, gives a positive outcome.
Godbole noticed an interesting pattern. In the middle of last year, Bitcoin fell from $ 6,820 to $ 6,070 5 days before the hearing of the House Financial Services Committee, which discussed the topic of cryptocurrency as a new form of money, but then rate has risen sharply to $ 8,500, because skeptics were not justified.
Exactly the same situation was observed in February last year, when the heads of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) spoke to the Banking Committee.
7. David Marcus, the day before the hearing, said that Facebook will not launch Libra until all the doubts of the regulators were resolved.
Marcus expects that the regulators of the initiative will deal with the Swiss regulators, because the Libra Association is registered in this region. However, he also promised that the US authorities would be involved in the regulation of Libra-related services, including Calibra’s wallet.
8. Philip Hammond, Chancellor of the Exchequer, believes that Libra has certain prospects with proper regulation.
On Monday, in a conversation with CNBC he said that the company is not obliged to obtain a banking license. «This problem should be solved by regulators, not politicians. We don`t plan to turn our backs on the project, but on the contrary, we will interact and try to work with the others to ensure proper regulation. In that case, Libra could will be a good tool».
9. Japan plans to analyze the impact of Facebook’s Libra stablecoin on the global economy.
The authorities organized a special working group for make it. In addition to research, it will make recommendations for regulators.
10. Meanwhile, US lawmakers are discussing a bill that bans large technology companies from issuing cryptocurrencies.
Large technology companies mean any firms with annual revenues of more than $ 25 billion. They will have to pay $ 1 million for each day of such a violation if they break the rule.
The bill came against the background of fears about Libra.
11. Tether accidentally released USD 5 billion on the Tron blockchain and almost immediately burned them. Some representatives of the cryptocurrency industry have suggested «the company simply made a mistake in the number of zeros».
12. Chinese police arrested 22 suspects in illegal mining and confiscated 4,000 ASIC-miners from them. Losses of electricity suppliers are estimated at about $ 3 million.
13. CoinMarketCap changed the principles for calculating BNB emissions and thus «cut back» a quarter of capitalization. Until recently, the total volume of BNB was 189,175,490 and the reverse one was 141,175,490. Now both values are 109,175,490.
Adjustments were made after CZ announced a change of the program of burning tokens. Now for these purposes 80 million BNB will be involved, which were allocated for the team. Now they are considered CoinMarketCap as inaccessible to the market.
As a result, the capitalization of the token at the time decreased by $ 900 million, which is why it shifted to 8th place in the list of the largest assets (previously it was 6th).
14. Huobi reported that it increased spending on the HT burning program by 232% quarterly due to «improved market conditions» and sales growth.
15. Bitfinex announced that it will use 27% of profit from margin trading for the purchase of LEO and subsequent burning. It should be reminded, that previously only 27% of the profits from Tokinex were used.