TOP 9 crypto world news for September 27, 2020

Annabella Cornelly

Penalties for Crypto Holders in Russia

Russia has decided to propose harsh penalties. Punishment is aimed at individuals who possess unreported cryptocurrencies. Officials have drafted a bill that includes fines as well as jail terms. There are some certain levels set and people who do not report their crypto holdings shall be responsible for this. Amendments will help authorities prevent money laundering and other criminal activities performed by people owning cryptocurrencies.

Manufacturer in China Announces an Offshore Factory

Microbt’s official representatives have recently announced that their team is planning to create an offshore company that will produce various devices and parts and supply them to North America. Also, executives reported that they have established a partnership with a firm located in New York. Mining rigs by Microbt has gained great popularity in the last few years and is now ready to create equipment for customers overseas.

6 New Trading Pairs and Perpetual Contracts

BTCMEX is an exchange focusing on crypto derivatives. Recently, the team has launched new perpetual contracts. According to developers, USDT will be used as a collateral, which will make it easier for people to calculate profits and losses. This will also allow traders to access multiple pairs that the service will offer. Moreover, representatives announced that their exchange will offer up to 125X leverage. Traders will have the same speed, low slippage, and deep liquidity.

Mining Regulations and Crypto Hedge Funds

This week has been rather challenging for all crypto enthusiasts, including those who deal with the top-ranked cryptocurrency. BTC’s price has dropped about five percent in the past days and reached ten thousand four hundred USD. Professionals state that if this move continues, the crypto will fall below ten thousand USD. It’s possible that the price will fall since there is a significant decline in the number of BTC addresses that hold a single BTC.

Ethereum Is Not Yet Prepared for DeFi

Crypto market analysts agree that Ethereum might not seem or feel ready enough for DeFi. There are a few issues that the team needs to fix first. It’s true that Ethereum is one of the greatest things the industry has and can use for DeDi. However, the problem is that the network’s capabilities are not sufficient. Currently, Ethereum cannot hold more than fifteen transactions per second. Its block-time is fifteen seconds and this is what finance finds incredibly long.

NFT Marketplaces Grow Thanks to Spikes in Gas Prices

Specialists confirm that new NFT marketplaces will have to leave Ethereum. This will be done to help the team deal with high gas fees. As many participants state, gas prices have been an issue for NFT marketplaces. Right now, the sector seems to approach an inflection point. Another factor is the scaling problem and that’s why several platforms have halted minting. Others have faced a serious decline in activities. Platforms have started to work on layer-2 solutions.

Irish Licensing for Winklevoss Brothers

The famous twins reported that they intend to hedge their bets and for these purposes, they are going to apply for an Irish license. According to news agencies, the Winklevoss twins admit and fully understand the risks that Brexit may cause. However, the two decided to file for a license since their next step is to starts operating in Ireland. Many professionals state that what the brothers will do might make the capital city a springboard for many other EU countries.

Changes That Accelerate XRPL Development

Crypto specialists point out that the recent decision of the XRP ledge foundation will significantly improve the situation. Recently, the team confirmed that the service is ready to make the right steps to accelerate the development of XRPL and make its adoption easier. Executives admit that XRP community is looking forward to innovation and support. Professionals agree that the multiple grants the team has received will help them move ahead.

The Tech Sector Offers Investment Opportunities

Individuals who are looking for better investment opportunities should definitely consider the tech sector, according to many crypto market specialists. This is the area that boasts a great number of firms with the potential to develop and grow in the upcoming years. Audinate Group Ltd. is one of such services. Another company that offers deals is Jumbo Interactive. Finally, professionals pay attention to Nearmap Ltd. That is a popular location data firm.