TOP 9 crypto world news for September 26, 2020

Judy Rubio

The Bahamas Will Soon Launch CBDC

Official representatives announced that the Bahamas will soon start releasing digital currency. This might become the first retail digital currency launched by the central bank in the world. Journalists and crypto specialists are attracted to the historic event and are willing to share their viewpoints, expectations, and predictions. Enterprise, personal, and low-value wallets will face the KYC approach that banks and other sectors will employ.

The Tron Blockchain Welcome Wrapped BTC

Bitgo’s executives affirmed that their team is planning to launch wrapped BTC and the asset will soon appear on the Tron blockchain. The network will permit users to tokenize the top-ranked cryptocurrency. This will help leverage the speed as well as feed that the blockchain and its system involve. Also, the WBTC project established a partnership with Tron. All the crypto that people deposit will be backed by the Bitgo Trust.

Israel Intends to Exempt Cryptocurrency

Local news agencies noted that Israeli lawmakers intend to exempt the top-ranked cryptocurrency from capital gain tax. Politicians have already proposed a draft law that explains how BTC will be treated as a currency rather than an asset for all sorts of tax purposes. The bill was presented to the parliament on Tuesday. Documents propose several major changes to taxation. At the moment, BTC is regarded as an asset which means that the country has a 25% of capital gains tax.

BTC Whales Expect a Crypto Trend Reversal

BTC whale clusters demonstrate the ten thousand four hundred and seven USD level has finally turned into a strong support zone. This might increase the chance of a renewed bullish uptrend. Crypto analysts see that the price could be in a short-term trend reversal after it recovered beyond ten thousand seven hundred. Recently, the price rose by almost six percent across major exchanges. Clusters do not spend or move their holdings for a long period of time.

What the Newly Formed DeFi Project Suggests

According to statistics, interoperability became the main target of the recent DeFi project. One of the ways of improving the current ecosystem is that it’s based on credit scoring. The protocol currently has one hundred and eighty million USD in crypto assets stored on the platform. As experts state, there are two features that make the project unique. First, it’s interoperability. Next, lending relies on credits and this is what permits loans to be under-collaterized.

BTC Might Hold the Key to Safety

Jack Dorsey pointed out that the top-ranked cryptocurrency is likely to hold all the necessary keys to security. Moreover, he was willing to analyze how the content that is saved through blockchain remains effectively immutable. BTC can provide a trusted environment in a rather distrusted atmosphere, which is the World Wide Web.  Dorsey alsosaid that security as well as methods for protection should also be considered.

Nexo Founders Comments Double Standards

Trenchev believes that the details that leaked vindicate the entire crypto space. Specialists can now state that the major financial institutions cleared more than two trillion USD transactions that they consider to be suspicious. Some parties feel vindication and remind about the talks related to money laundering. According to many, the U.S. dollar is still the major choice for this sort of illegal activity. The fact is that this forma a terrible double standard.

Security Incidents Attract More Attention

Some of the most prominent crypto exchanges, including KuCoin, are hacked. This is what has recently attracted many participants’ attention. As data suggests, KuCoin has been attacked – one hundred and fifty million USD worth of funds were transferred out of the platform to an unidentified address.  At the moment, investigators are doing all possible to detect and find the address. Audit reports prove that all user deposits and withdrawals have been suspended.

A Strong Resistance Wall at 360 USD

Crypto market analysts focus on ETH and state that the asset might face strong resistance at three hundred and sixty USD. DeFi growth has occurred and this led to increased activity. Hashrate has managed to keep up with the difficulty. According to experts, the rise creates numerous opportunities and problems in the ETH network. DeFi boom will increase mcap and have several positive effects while there are a few minuses to the trend.