TOP 10 crypto world news for September 16, 2020Endy Callahan
Stable Coin Inflow Proves Binance’s Serious Intents
The recent inflow of stablecoin worth one hundred and thirteen million BUSD proves that Binance feels quite serious about decentralized finance. The mcap is swiftly increasing and the exchange is prepared to move ahead and become a key contender of DeFi. Statistics show that the past few days have been especially efficient and productive – the service wants a slice of the DeFi pie.
Tassat Is Likely to Launch BTC Swaps
Executives of the famous fintech company had to reinstate its registration after one year of no trading. However, the firm will not need to meet an enforcement action. The commission has allowed Tassat to proceed with the top-ranked cryptocurrency swap contracts. This decision comes despite the fact that executives failed to meet requirements set by the authorities.
Total Coverage by the Famous Exchange
Binance is the service that will soon cover one hundred percent of the country. This is the major goal of the team. Right now, executives are on track to launch in all fifty states by the end of this year. Thanks to the newly developed legislation, the exchange will be able to open its doors to absolutely all traders and this includes all U.S. states. The marketplace basing on digital assets has recently launched in Georgia.
Privacy Coins Are More Secure Thank Others
Money laundering is one of the risks posed by some certain coins. According to experts, privacy coins are not a major risk. Zcash and Grin as well as Dash and Monero are safer. All of the mentioned are more secure than other cryptocurrencies when we talk about money laundering. Information sources announce that AML measures that regulatory bodies take have been quite sufficient and extra oversight may not be of utmost importance at the moment.
Greater Regulatory Risks for DeFi
Currently, regulatory pressure on DeFi seems to be too hard. The sector may fall under it if the market looks at it as a haven for money laundering. Greater regulatory attention may occur due to the yield farming. This year the growth in DeFi has been very rapid and the situation has created the right potential for money laundering. Professionals remind all that DeFi has no LYC requirements for users and this is another aspect for authorities to pay attention to.
Integration of Additional Public Chains in China
China’s blockchain service network is finally ready to integrate additional public chains. The country is moving forward with new projects. BSN is going to add another three public chains into the existing ecosystem. Currently, the plan is at its second stage. At the moment, users can see Nervos, Neo, Tezos, EOSIO, and IrisNet. All of the services provide unique opportunities and have strong user cases that allow people to solve issues.
Digital Transfer of Rights by a Russian Star
Oleg Kenzov has become one of the first musicians across Russia who has managed to employ the system and transfer the digital rights. Data was sent via a blockchain platform. The popular singer has partnered with FONMIX – the music service that distributed his song to various public spaces. The list includes gyms and stores. From now on, it will be possible for businesses to use his song for marketing purposes. Major record companies and labels too part in the event.
Gold Is Not as Safe as BTC
Jim Cramer has affirmed that he is going to invest one percent of net worth in the top-ranked cryptocurrency. According to the host, gold might not be as safe as Bitcoin. He called the precious metal ‘dangerous’. Also, he compared the two assets and pointed out the importance of hedging against possible inflation. Cramer feels it is worth trying to take a shot at the crypto with one percent.
Crypto Becomes Accessible Thanks to Simmons
The frontman of the legendary music group stated that he is putting every effort to make cryptocurrency more accessible. It seems that the rock star is deeply interested in the blockchain space. Information sources confirmed that Simmons is willing to make the top-ranked cryptocurrency and other digital assets more accessible. This is not the first time the manhas referenced to Bitcoin. He seems to have no confusion about the digital asset.
Philippines Authorities Warn of Cloud Mining Ponzi
Local authorities and SEC have finally identified ‘Mining City’. According to the press, this is a Ponzy scheme. Regulators warn all promoters of the mentioned scam that they will have to face up to twenty years of imprisonment. It’s an unlicensed group and functions in no accordance with existing guidelines. The case of the ‘cloud mining’ company is now being investigated and the public is not advised to deal with this sort of firms.
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