Citta Slow

With new plans for further monetary policy intervention, the US Federal Reserve makes additional publicity for Bitcoin.

The Federal Reserve continues to unintentionally advertise Bitcoin, with Federal Reserve Chairman Jerome Powell advocating further „money printing“.

In a tweet on November 6, Tyler Winklevoss, co-founder of the Gemini crypto stock exchange, says that Powell’s recent speech is „a code for buying Bitcoin“.

Powell: Congress to authorise further intervention

Powell made these comments at a press conference on 5 November on the current economic situation and possible monetary policy measures.

He reiterated that the US Federal Reserve had not yet exhausted the full range of its possibilities. However, it should be noted that the US Federal Reserve, in cooperation with the government of the country, has already intervened heavily in the stock markets, injecting funds and distributing aid to the population.

„I think that we will have a stronger economic recovery if we bring in some fiscal support where it fits…Congress also thinks it makes sense,“ Reuters quotes the Federal Reserve Chairman as saying.

Bitcoin advocates repeatedly warn of the long-term consequences of short-term intervention in the economy by the state and the central bank, as evidenced by the ever-increasing national debt in the US and elsewhere.

On Friday, the books of the „Fed“ showed almost 7.14 trillion US dollar, while government debt exceeded 27.2 trillion dollars for the first time in history. US dollar for the first time in history.

No BTC left?

With its monetary policy interventions, the central bank is following the theory that the economy is driven primarily by demand, which is why financial injections are supposed to have a „boosting“ effect. Bitcoin, meanwhile, is quite simply driven by supply and demand, a mechanism that seems to work perfectly well in view of the crypto-currency’s current climb.

The crypto market leader has gained more than 15% since the beginning of the week, reaching spheres last seen at the end of 2017.

According to crypto-analyst PlanB and some of its colleagues, this is not surprising, as according to the so-called stock-to-flow forecast model, which puts the existing circulation of Bitcoin (stock) in relation to the rate of increase (flow), such a price development after the „halving“ in May is the logical consequence. And indeed, investors seem to follow this prediction.

Investors are no longer just private investors, as institutional investors are also increasingly discovering the crypto-currency for themselves. In the third quarter of 2020, the payment service provider Square generated 80% of its revenues through Bitcoin alone.

„There is no more Bitcoin for sale“, as Twitter user Girevik sums up the current situation.

Hong Kong para Apertar a Regulamentação em todas as Plataformas Comerciais Crypto

Os reguladores em Hong Kong estão preparados para reprimir as plataformas de comércio de moedas criptográficas.

De acordo com um discurso de um de Bitcoin Billionaire seus principais reguladores, todas as empresas de comércio de criptografia precisarão de uma licença de SFC no futuro.

As mudanças propostas não afetarão as plataformas que já operam sob o regime de token de segurança.

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Licença Crypto de Hong Kong

O governo de Hong Kong está pronto para mudar as regras para as empresas comerciais de moeda criptográfica que operam dentro da jurisdição da cidade.

Continue lendo abaixo

Os reguladores financeiros em todo o mundo ainda estão no processo de formular a melhor abordagem para a regulamentação da indústria de moedas criptográficas. Até agora, Hong Kong – lar de muitas trocas criptográficas – tem sido de certa forma um laissez-faire neste sentido.

Em contraste, centros financeiros asiáticos similares, como o Japão e Cingapura, têm regimes de licenciamento que exigem regulamentação uniforme de todas as plataformas de negociação de criptografia.
Outras medidas de regulamentação

Em uma declaração relatada pela Reuters na terça-feira, o principal fiscalizador financeiro da cidade anunciou que todas as plataformas de negociação de moedas criptográficas seriam regulamentadas em breve, quer negociassem valores mobiliários ou estritamente moedas criptográficas em Hong Kong. A mudança representa um afastamento de sua abordagem „opt-in“ anterior.

Antes desta notícia, a Securities and Futures Commission (SFC) de Hong Kong funcionava com uma estrutura regulatória „opt-in“ para plataformas de negociação de criptografia.

Mas de acordo com um discurso proferido por Ashley Alder, chefe executivo da SFC, as regras atuais não são suficientes:

„sob a atual estrutura legislativa, se um operador de plataforma estiver realmente determinado a operar completamente fora do radar regulatório, pode fazê-lo simplesmente assegurando que seus ativos criptográficos negociados não estejam dentro da definição legal de um título“.

Alder prosseguiu dizendo que, como resultado, o governo de Hong Kong proporia um novo regime de licenciamento sob sua legislação contra a lavagem de dinheiro, „exigindo que todas as plataformas de negociação de moedas criptográficas que operam lá, ou investidores alvo na cidade, solicitem uma licença de SFC“.

Ethereum has seen a sharp rally to $ 406 – an 8% increase in the past 24 hours.

ETH is expected to rise higher as there appears to be an accumulation trend among Ethereum investors.

According to new data, 250,000 ETH were transferred from Binance in the last 24 hours, which corresponds to 10% of the stocks on the exchange.

Data show: Ethereum is accumulating heavily

Ethereum has seen a strong rally in the past few hours on the news about ETH2 and Serenity. ETH is currently being traded for $ 406, which is an increase of around 8% in the last 24 hours alone.

The coin is now outperforming Bitcoin, which also experienced an upturn last day.

It is assumed that ETH will be quoted higher, as a trend towards accumulation can be observed among Ethereum investors.

A crypto asset analyst has shared the data below amid the ETH uptrend and commented that the accumulation occurs according to on-chain trends. According to the data, 250,000 ETH were transferred from Binance in the last 24 hours – this corresponds to 10% of the stock exchange holdings.

Some believe this is a consequence of the release of the ETH2 custody contract. This could add to the Ethereum accumulation as investors seek to amass ETH in order to generate returns through this blockchain appreciation.

ETH2 introduces a proof of stake consensus mechanism into the Ethereum system. It rewards those who use their coins as long as they properly validate the blocks in the chain.

“$ 258k ETH was withdrawn from Binance in the last 24 hours. Almost 10% of what Binance had in its wallets. Let’s turn this into another 10% sales liquidity crisis that will come in a few months. Where are you going to get Eth from when it’s all locked in smart contracts and DeFi? Do you think ahead? “

ETH owned by top crypto asset exchanges shared by Pentoshi, head of TA at Blockfyre

ETH is also being driven forward by the institutional takeover. For one, the Australian reserve bank recently announced that it would use Ethereum technology for its CBDC.

“Reserve Bank announced today that it is partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software, a blockchain technology company, in a collaborative effort to study the potential use and impact of a wholesale form of Central Bank Digital Currency (CBDC) using Distributed Ledger Technology (DLT) … The project includes the development of a Proof-of-Concept (POC) for the issuance of a tokenized form of the CBDC used by wholesale market participants for financing, settlement and repayment of a tokenized syndicated loan can be used on an Ethereum-based DLT platform. „

In addition, CFTC chairman Heath Tarbert recently stated that he supports Ethereum – and even described the blockchain as innovative and exciting.