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Red tape for Coinbase – Clearly, margin trading is Crypto Code causing problems for the Coinbase trading platform. It has just announced the termination of this service, obviously due to a new regulatory framework in the US.

No more margin trading from 25 November
Margin trading allows you to borrow a multiple (x2, x3, x50, …) of your actual contribution to create leverage. This can either increase the gains tenfold or cause the entire contribution to be lost more quickly if the trade does not go in the right direction.

Via a publication on their blog, the teams at Coinbase Pro – the version dedicated to Coinbase professionals – have just announced the imminent cessation of the margin trading service.

As a result, it will no longer be possible to open new margin transactions as of this Thursday 25 November at 23:00 (Paris time).

Clients who have taken out a loan to create a limit order will have their limit order cancelled. For positions already opened, the service will only be permanently offline in December, once all positions have expired (loans have a 25-day duration).

US regulatory history too unclear
According to Paul Grewal, Coinbase’s General Counsel (CLO), the sudden shutdown of the margin trading service was due to „new directions“ from the Commodity Futures Trading Commission (CFTC), one of the main financial regulators in the United States.

„We believe that clear and common sense regulation of margin lending products is necessary to protect and reassure US clients. We look forward to working closely with regulators to achieve this goal. »

Paul Grewal
Coinbase is having a hard time with the US administrations, since yesterday it was because of the IRS (the US tax authorities) that the crypto stock exchange also had to stop one of its services.

According to CoinDesk, if Coinbase stopped sending a tax form that made it easier for its US clients to declare their profits, it’s because the IRS seems to wrongly think that traders have under-declared their earnings. Another form (IRS Form 1099-MISC) will be used instead, in the hope that it will not create new problems.

Although the regulations governing cryptosurveillance have evolved (slowly), they still pose problems for companies in the cryptosphere. This is the last straw since, apart from that, everything is going very well for Coinbase, which has just revealed that it has reached the 20 billion crypto-actives under management. Otherwise, for investors who are keen on margin trading, there will always be the FTX platform to console themselves.

Romina Sejas, Community Manager of Buenbit, gave a talk from Argentina on „The foundations for a new financial paradigm

Within the framework of the Blockchain Summit Latam Online 2020, Romina Sejas, Community Manager of Buenbit, gave a talk from Argentina on „The foundations for a new financial paradigm“, emphasising decentralised finance, also known as DeFi.

Sejas highlighted that the Crypto Genius network is the platform where DeFi is mostly developed. However, he clarified that there are also other blockchains where DeFi is being tried to be built.

On the other hand, he commented: „With regard to those who say that the DeFi winter is coming, I believe that in reality the ecosystem is being purified and we are in a first stage of maturation“.

Thinking that in DeFi you can find several elements to manage finances in decentralized ways, Sejas also highlighted the contrast between different markets: „From LATAM we can see DeFi as a way to protect ourselves or save money. But in Spain they are looking at how to maximize returns.

He went on to say that it is important to see whether we are evaluating DeFi from a numbers perspective or whether we are evaluating the great development on a technical level. In that sense, he said that there are „brilliant developers“.  And he also highlighted that what is happening includes various fields, such as finance, micro and macro economics, programming.

He said that we are witnessing one of the most complex moments in the ecosystem and „it will be hard to digest“.

He also did not let it pass that one of the criticisms this year was the increase of gas in the Ethereum network. But he clarified: „There are already people to provide solutions about this“.

En topptillsynsmyndighet förklarar betydelsen av kryptovaluta i det nuvarande ekonomiska klimatet och i framtiden för banktjänster för den amerikanska senaten.

Som en del av hans vittnesbörd under en utfrågning som hölls av senatskommittén för bank-, bostads- och stadsfrågor, gav chefschef för kontoret för valutaövervakaren (OCC) Brian Brooks detaljer om de ansträngningar OCC gör för att säkerställa federala banksystemet fortsätter att vara en källa till styrka och lättnad för konsumenter, företag och samhällen som är undervärderade under pandemin.

Brooks lyfter fram vikten av innovationerna i kryptovaluta som har gynnat miljontals amerikanska konsumenter och företag

”Idag äger ungefär 60 miljoner amerikaner någon typ av kryptovaluta, med ett totalt marknadsvärde på nästan 430 miljarder dollar. Dessa siffror illustrerar tydligt att denna betalningsmekanism nu är fast förankrad i den finansiella mainstream.

Kryptovaluta har blivit en populär mekanism för att skicka och ta emot betalningar för varor och tjänster eftersom transaktioner bokförs i realtid och ger bekvämlighet och säkerhet. Bitcoin Revolution beskriver också kategorier av specifika valutor av värde, och ökningen av användningen av stablecoins visar konsumenternas komfort med dess användning. ”

När amerikaner fortsätter att omfamna innovation och nya sätt att få tillgång till finansiella tjänster, säger Brooks att OCC har en skyldighet att tillhandahålla regleringsriktlinjer, främja ansvarsfull innovation och stödja utvecklingen av säker, försiktig och rättvis finansiell infrastruktur.

För detta ändamål beskriver Brooks viktiga steg som OCC tog 2020 för att ge tydlig reglering inom kryptoindustrin

”Den 22 juli 2020 publicerade OCC ett tolkningsbrev som klargjorde de nationella bankernas och federala sparföreningars myndighet att tillhandahålla tjänster för kryptovalutaförvaring för kunder. Nationella och statliga banker och banker har länge tillhandahållit förvaringstjänster, inklusive fysiska föremål och elektroniska tillgångar. OCC har specifikt erkänt vikten av digitala tillgångar och bemyndigande för banker att tillhandahålla skydd för sådana tillgångar sedan 1998. ”

Lo scambio di derivati Crypto FTX ha lanciato un nuovo modo di commerciare le azioni più popolari del mondo.

Annunciato giovedì, gli utenti dello scambio sono ora in grado di registrarsi per fare trading su oltre 12 coppie di azioni e di criptovalute attraverso l’offerta di azioni frazionate della piattaforma in quello che FTX definisce un prodotto „primo del suo genere“.

Le aggiunte significano che gli utenti possono iniziare a negoziare azioni ad alta domanda come Tesla, Apple e Amazon, rappresentate da token, contro bitcoin (BTC, +2,85%), stablecoin e altro ancora.

„Questi prodotti dimostrano un futuro potente, in cui gli asset sono digitalizzati e i trader hanno un potenziale creativo illimitato per esprimere le loro convinzioni sui mercati“, ha detto il CEO di FTX Sam Bankman-Fried.

Per facilitare la liquidità, i gettoni rappresentano una frazione di un’azione, il che significa che i trader saranno in grado di scambiare metà di un’azione alla volta se lo desiderano, ha detto Bankman-Fried a CoinDesk via Telegram.

L’offerta è condotta in collaborazione con il fornitore di soluzioni per i mercati dei capitali Digital Assets AG e la società di investimento CM Equity.

„Questi prodotti azionari frazionari riflettono la realtà che i trader di oggi sono operatori industriali e di settore e vogliono opportunità di trading che corrispondano pienamente ai loro interessi e alla loro mentalità“, ha detto l’amministratore delegato.

I trader negli Stati Uniti e nelle altre giurisdizioni ristrette di FTX non potranno negoziare i prodotti.

Inoltre, giovedì, FTX ha annunciato il rilascio di TixWix – un prodotto rivolto ai clienti al dettaglio nel mondo del trading di opzioni – in collaborazione con la piattaforma di gioco a catena di blocchi HXRO.

Have you been hodling Bitcoin (BTC) for a while now?

Then there’s a very good chance that you’ve made a profit, according to data from an analysis company. In addition, the number of addresses with a balance on them has increased enormously this year.

Buying 1000 euros of Bitcoin without commission? Get started at Bitvavo

Bitcoin in green

Data from Intotheblock shows that a significant proportion of all addresses containing a bit of Bitcoin Formula are profitable. It would be almost 90% of all addresses.

Of course, this high number has everything to do with the price development of the cryptocurrency. The price has been above $10,000 for 77 consecutive days. Never happened that long before!

Intotheblock is a blockchain analysis company that analyzed all of Bitcoin’s 31.94 million addresses. You can use a node to see exactly when the Bitcoin was placed on these addresses. By comparing this with the current market price, you can easily see whether the address is on profit or on loss.

89.28% on profit

Out of a total of 31.94 million Bitcoin addresses, around 89.28 percent are currently profitable, according to Intotheblock. If you look back in time, this year has been different as well. During the global stock market crash, gold and also Bitcoin in March, only 45 percent of all addresses were at a profit.

You must have had a lot of bad luck to lose with BTC’s hodling. Bitcoin is currently 3709 days old and has been cheaper than $11,450 in 3612 days. In 97.4% of the time, Bitcoin’s price was lower than today. LookIntoBitcoin has captured this in a nice graph.

New and active addresses

They also mention that no less than 11.9% of the addresses were generated this year. So we have had a good year.

The number of addresses used each day is also approaching an old record. In December 2017, this was slightly more than 1 million a day. Currently, there are around 800 thousand addresses that are used every day.

Translated with www.DeepL.com/Translator (free version)

• Bitcoin potrebbe non sostenere i suoi massimi dopo aver spinto fino a 11.500 dollari il venerdì sera.
• Un trader ha recentemente notato che una semplice analisi frattale suggerisce che la moneta subirà un ritracciamento dopo aver raggiunto gli 11.400 dollari.
• Il trader ha detto che la criptovaluta ha alcune analogie con l’azione dei prezzi di circa due settimane fa.
• Anche se il frattale può essere valido di per sé, la discussione sul prossimo disegno di legge di stimolo fiscale negli Stati Uniti probabilmente guiderà l’azione di prezzo della Bitcoin nel prossimo futuro.

IL BITCOIN POTREBBE DIMINUIRE, L’ANALISI FRATTALE SUGGERISCE

Il Bitcoin potrebbe diminuire di qualche punto percentuale rispetto ai livelli attuali se deve seguire un frattale osservato da un trader di criptovalute.

Il trader ha condiviso il grafico sottostante l’11 ottobre, osservando che ci sono chiare somiglianze tra l’azione del prezzo a fine settembre e quella osservata nei giorni scorsi. Questo frattale suggerisce che ci sarà un „dump standard della domenica“, probabilmente verso i bassi $11.000.

LO STIMOLO PARLA PER GUIDARE L’AZIONE DEI PREZZI

Anche se il frattale può essere valido di per sé, la discussione sul prossimo disegno di legge di stimolo fiscale negli Stati Uniti probabilmente guiderà l’azione dei prezzi della Bitcoin Code nel prossimo futuro. Dopo tutto, gran parte della recente azione sui prezzi di BTC, incluso il rally in corso, è stata alimentata dalle aspettative di un altro stimolo.

Purtroppo, è stato recentemente rivelato che „la Presidente della Camera Nancy Pelosi e i Repubblicani del Senato sabato hanno rifiutato la proposta di stimolo del Presidente Donald Trump per circa 1,8 trilioni di dollari“.

Ulteriori ritardi nell’approvazione della proposta di legge di stimolo potrebbero portare il dollaro americano ad un aumento rispetto alle altre valute. Questo, a sua volta, costringerà Bitcoin ad abbassare il Bitcoin in quanto la criptocurrency è vista come una copertura contro gli stimoli fiat e l’inflazione.

CFTC sigter mod at narre en uregistreret platform til at betale amerikanske investorer tilbage deres penge efter at have investeret i crypto futures.

Mandag sagsøgte Commodity Futures Trading Commission Laino-gruppen for at rådgive amerikanske investorer om at handle futures på råvarer som Ether, Litecoin og Bitcoin. Virksomheden havde ikke tidligere registreret sig i Kommissionen.

Ifølge CFTC’s klage brugte den St. Vincent-registrerede Laino Group Bitcoin Era, der fungerer som PaxForex, et netværk af amerikanske datterselskaber for at tiltrække amerikanske detailinvestorer. Dermed overtrådte Laino-gruppen loven om handel med varer.

CFTC sagde ikke specifikt, hvilke aktiviteter Laino Group var involveret i. Kommissionens anmodning om decharge angiver, at den ikke ved, hvor meget handelsplatformen har tjent uden registrering. CFTC’s retssag kræver ikke kun fuld tilbagebetaling af alle penge, men også:

En kendelse om, at sagsøgte og enhver efterfølger for retten skal redegøre for alle deres aktiver og passiver. Han skal også angive alle de midler, som han har modtaget fra og betalt til kunder.
Definitionen af ​​ansvarsgrænsen er en specialitet her. CFTC har gentagne gange henvist til Bitcoin som en vare i de senere år. Ether og Litecoin er på samme liste som Bitcoin og traditionelle råvarer som guld og sølv. Dette antyder, at Kommissionen også behandler disse andre som varer, som CFTC-formand Heath Tarbert sagde sidste år.

Spørgsmålet om, hvilke kryptokurver der skulle høre under CFTC’s jurisdiktion, blev behandlet i to lovudkast, der blev præsenteret for Repræsentanternes Hus i sidste uge.