1. Last week, the Singapore branch of the Binance exchange froze the account of one of the users, which angered the cryptocurrency community.
The user wanted to withdraw Bitcoins to the address of the Wasabi wallet, which caused dissatisfaction of the exchange. Although, the freeze turned out to be temporary, nevertheless, a similar practice can spread to other exchanges, which will lead to the division of the cryptocurrency ecosystem into two parts. Many analysts believe so.
«It seems to me that exchanges are gradually going to crossroads» Gergely Hajdu, developer of the Wasabi wallet, said on this occasion. «Some platforms may be cut off completely».
Some companies will take the regulatory path, obeying the laws of global regulators, such as the Financial Action Task Force on Money Laundering (FATF). Others rely on Bitcoin’s original ideas- anonymity and lack of transaction verification.
2. Swiss President Ueli Maurer believes that Libra in its current form has no chance to gain a foothold in the financial world, because central banks will not accept a basket of currencies that supports it.
«The basket of currencies must undergo changes, otherwise the project will fail» he said.
3. Brad Garlinghouse, CEO of Ripple, believes that the number of active cryptocurrency projects will decrease in 2020.
«At the moment, more than 3,000 cryptocurrencies are represented, most of which are not needed» he said, adding that in the end, approximately 1% of the existing coins will remain.
Garlinghouse believes that the industry will gradually form around quality projects that are applicable and have practical importance.
David Schwartz, CTO of Ripple, expressed a similar point of view.
4. Bitfinex has made the process of users identifying more complex.
Verified customers received letters to their email addresses in which the company announced the need to bring the accounts «to the same level».
Bitfinex Technical Director Paolo Ardoino noted that the company is always improving its legal compliance program.
It is says in the letters that users must provide a document confirming the source of origin of the funds, as well as confirm the address of residence with a special document, for example, a utility bill.
«We allow unverified customers to participate in the trading process, but for them the number of trading operations is limited. We try to ensure that all customers comply with the same fundamental rules» Ardoino said.
5. The Insurance Fund «BitMEX» has grown by 62% this year. At the moment, it contains 0.18% of all issued Bitcoins.
From January 1, it increased from 20,776 BTC to 33,470 BTC (about $ 240 million at the current rate).
It should be reminded, that the insurance fund is growing due to liquidations that are occur on the market at a price more favorable than the bankruptcy price of a particular position.
6. Pete D’Abrosca, Republican Party candidate for the Republican Party for the Seventh District of North Carolina, said that he would invest in Bitcoin and ammunition over the next decade.
Earlier, d’Abroska didn`t speak out about cryptocurrencies. Accordingly, we can assume that with his statement he wants to persuade a certain part of the electorate. Andrew Young is also betting on cryptocurrency market participants in the presidential campaign. He provided his own industry regulation plan.
A person close to the cryptocurrency industry also plans to enter the Senate. This is Kelly Loffler, the former Bakkt platform CEO. She will become a senator from the state of Georgia on January 1.
7. The Central Bank of the Bahamas began testing its own crypto dollar. A pilot project has already been launched in the Exuma area, and it is planned to connect the Abako area next year.
Local authorities believe that the conversion of the national currency into digital form will make the functioning of the financial system more efficient. Firstly, it will be possible to reduce the economic costs associated with the use of cash, and secondly, the tax system will improve. The Central Bank is also confident that the digital currency will help to combat money laundering, terrorist financing and other abuses.
8. Google has removed Android app «MetaMask» from its Google Play. The company noted a violation of the policy prohibiting mining applications on mobile phones as the reason for this decision.
It is interesting that there was no such function in the MetaMask application, as the developers informed the company. However, Google refused to overturn the ban.
«It is unclear whether the examiner is not versed in this issue, or unwritten politicians are practiced» the MetaMask developers wrote.
9. Meanwhile, YouTube commented on the removal of hundreds of cryptocurrency educational videos. A service representative called these measures a mistake.
«There is a huge amount of content on our resource, and sometimes we make the wrong decisions. When someone reports that the video was unfairly deleted, we immediately return it» he said, adding that there were no changes to the service’s policy in relation to cryptocurrency content.
However, some users report that their content is still unavailable. Chris Dunn said that at first, the video was really restored, but then it was deleted again, and in addition, those that were not deleted before the restoration were blocked.