🗞 Daily Crypto News, October, 4th 💰
- Gold, Not Bitcoin, Is Drawing Haven Demand on US Recession Fears ;
- Coinbase-Led Crypto Ratings Council Draws Skepticism From Legal Experts ;
- Bitcoin Price Trapped Below $8,500 as Bears Call for a Drop to $6K ;
- Apple Says No to Libra-like Altcoins ;
- Binance Integrates Coinfirm’s AML Platform to Comply With FATF Rules ;
- 🗞 Daily Crypto News, October, 4th 💰
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
🗞 Gold, Not Bitcoin, Is Drawing Haven Demand on US Recession Fears
Fears of a U.S. recession have resurfaced over the last two days and the resulting risk aversion is bringing a boost to gold. For bitcoin, though, it’s a different story.
The U.S. Institute of Supply Management said Tuesday its manufacturing index fell to a 10-year low of 47.8 percent last month from 49.1 percent in August. A below-50 reading indicates contraction in manufacturing activity.
The gloomy data suggests a boosted risk of a recession in 2020, as seen in the chart below tweeted by popular analyst Holger Zschaepitz.
🗞 Coinbase-Led Crypto Ratings Council Draws Skepticism From Legal Experts
An initiative led by crypto exchanges to categorize digital assets has drawn mixed reactions from leading legal experts and industry players.
Coinbase, Kraken, Bittrex and a number of other exchanges announced Monday that they were forming the Crypto Rating Council (CRC) to clarify whether cryptocurrencies are securities. The CRC uses a 1-5 rating scale, with 1 being a clear non-security (bitcoin, litecoin, dai), and 5 being clear securities (none of which were disclosed publicly) – at least in the eyes of the consortium.
A number of assets fell somewhere between 1 and 5, including XRP, maker, EOS, augur and ethereum.
Reactions to the plan have ranged from welcoming to derisive. While some have expressed optimism about the CRC as a concept, others have criticized how the rollout has been handled and whether the body will really serve to sway the minds of regulators.
🗞 Bitcoin Price Trapped Below $8,500 as Bears Call for a Drop to $6K
Around this time last week, the situation was looking increasingly dire for Bitcoin (BTC) and murmurs of a drop to $6,000 and even $3,000 began to circulate amongst traders. Even today there are still those that consider this a real possibility and perhaps it is. For the moment, Bitcoin appears to have stabilized and traders are hopeful that a strong move to $8,500 will occur over the coming days.
Where are we going?
Bull, bear or chimera?
🗞 Apple Says No to Libra-like Altcoins
Apple has joined a fast-growing group of companies that are suddenly getting cold feet about Libra-like digital tokens. The other cautious companies are reportedly some of Facebook’s biggest-name Libra partners: PayPal and Stripe, as well as Visa and Mastercard.
Reuters reports that Apple’s CEO Tim Cook stated that a Libra-like crypto-project was not in the company’s plans, and even went on to pour scorn on the Libra project.
Cook stated,
“I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency.”
🗞 Binance Integrates Coinfirm’s AML Platform to Comply With FATF Rules
Major cryptocurrency exchange Binance has partnered with crypto analytics startup Coinfirm to improve its anti-money laundering (AML) compliance.
New platform for FATF compliance
The integration of Coinfirm’s blockchain-agnostic AML Platform will purportedly streamline Binance’s compliance with the AML rules issued by the Financial Action Task Force (FATF), according to a press release published on Oct. 3.
The new measures set up by the FATF require that cryptocurrency operators establish the identity behind crypto funds senders and recipients, conduct proper due diligence to ensure they are not engaging in illicit activity, and develop risk-based programs, among others.
🗞 Daily Crypto News, October, 4th 💰
- Pundi X (NPXS)
"On Oct 4 at 10:00 am GMT+8, CEO and Co-Founder of #PundiX @zibin will host a video session to talk about the progress made in Q3 and..."
- Kyber Network (KNC)
In 2 weeks’ time, on 4th October, the maxGasPrice parameter in the Kyber Network contract will be updated from 100 gwei to 50 gwei.
- 3DCoin (3DC)
"Our weekly AMA approaching... This Friday evening special edition!"
- "Our weekly AMA approaching... This Friday evening special edition!"
The next BlockTalk event will be held at Bober Cafe, Surabaya on 4th of October 2019. This event is totally free.
- Holo (HOT)
"Arthur Brock will be attending & presenting at Beyond Paradigms, The New Economy Network of Australia's annual conference this week."
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Since yesterday, we are having a low UP on the STEEM and so we are still progressing in the direction of the resistance line at 0.155$. The moves are very slow and without any volatility and we could have a correction at any moment but let's stay positive and think that we are going in the good direction. Let's hope we won't have a correction on the BTC which could stop that progress.
Last Updates
- 🗞 Daily Crypto News, October, 3rd💰
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- 🗞 Daily Crypto News, September, 24th💰
- 🗞 Daily Crypto News, September, 22nd💰
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- 🗞 Daily Crypto News, September, 20th💰
- 🗞 Daily Crypto News, September, 19th💰
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