FinCEN director warns banks about cryptocurrency risk exposure

FinCEN has warned U.S. banks that it is closely watching how they respond to crypto risk exposure with their AML programs. The U.S. Financial Crimes Enforcement Network (FinCEN) director Kenneth Blanco has warned banks to think seriously about their cryptocurrency risk exposure. During the virtual 2020 ACAMS anti-money laundering Conference in Las Vegas this week, Blanco discussed the obligations of banks in implementing effective anti-money laundering (AML) policies. Current FinCEN regulations (FIN-2019-A003) state that it is the responsibility of all financial institutions to identify and report suspicious activity concerning how…

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Bitcoin price in flux: Bulls target $11.5K, bears desire drop to $9.8K

As Bitcoin price consolidates, bulls target $11.5K and bears expect a drop below $9.8K. Bitcoin (BTC) price appears to be gearing up for another shot at the $11K mark but traders shouldn’t get overly excited as resistance in the $11,000-$11,200 zone and at $11,389 have kept the price from moving higher for the last few weeks.  Crypto Fear & Greed Index. Source: Alternative.me Currently the Crypto Fear & Greed Index registers 49 which shows crypto investors feel neutral about the current state of the market. While it’s difficult to gauge…

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Court tosses out short-sellers’ lawsuit targeting Overstock’s ‘digital dividend’

The lawsuit, accusing Overstock of market manipulation through its security token airdrop, has been turfed by a federal judge. A Utah federal judge has tossed out a lawsuit that accused Overstock ($OSTK) of market manipulation by distributing a ‘digital dividend’ of security tokens to shareholders and repeatedly revising retail earnings guidance upward to punish short-sellers. U.S. district judge Dale Kimball granted two motions to dismiss the suit on September 28, finding that the digital dividend did not manipulate the market, and that the revised earnings statements were protected by the…

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‘DeFo’ staking enabled for Waves’ Neutrino stablecoins

Crypto traders can earn passive income through Neutrino stablecoin staking. U.S.-based cryptocurrency exchange Waves.Exchange, which supports the price-stable multi-asset Neutrino protocol, is introducing a way for crypto traders to earn passive income through stablecoin staking. According to a Sept. 29 announcement from Waves, the exchange has expanded its tokenized assets ecosystem to include seven different Neutrino stablecoins — synthetic versions of national currencies — through a decentralized foreign exchange market, or ‘DeFo’. Holders of the Neutrino US dollar (USDN), euro (EURN), yen (JPYN), yuan (CNYN), ruble (RUBN), Ukrainian Hryvnia (UAHN)…

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Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2 billion in total value locked (TVL) this week. Tuesday’s data shows out of all the decentralized finance (defi) application’s Uniswap dominates the $11 billion landscape by over 18%. Just recently, the defi space has touched a few new milestones as the ecosystem’s TVL this week has topped $11 billion. The dex Uniswap is dominating the defi landscape by 18.65% with over $2 billion TVL to-date. Uniswap is followed by Makerdao ($1.9B), Aave ($1.56B), Curve.fi ($1.22B), and the…

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‘No coiner’ TikTok star launches finance podcast with Bitcoin bull Pomp

‘I do believe crypto is its own asset class and one worth exploring,’ said the TikTok star. A 21-year-old social media star famous for his TikTok videos is entering the crypto space, guided by Bitcoin bull Anthony ‘Pomp’ Pompliano. Bryce Hall has launched a finance podcast with Pompliano called “Capital University”. Unlike Pomp’s regular podcast, which is focused on business, investing, and promoting Bitcoin (BTC), the joint venture will cross the generational divide, as the 32-year-old Pomp learns how social media influencers are making money, while Hall learns tips about…

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Easily Spend Your Bitcoin via Prepaid Debit Card or a PayPal Account with Bitcoin of America’s Easy to Use Trading Platform

Bitcoin of America offers a number of convenient ways to transfer your bitcoin or litecoin to commonly used USD payment gateways like prepaid debit cards or a PayPal account. Read the guides below to find the method that’s best for you. Most commonly, bank transfers are used to transfer bitcoin, but using popular fiat gateways like PayPal and Prepaid debit cards can make it easy to spend Bitcoin and Litecoin anywhere that accepts USD. Sell Bitcoin to Prepaid Debit Card Want to spend your crypto at any location across the…

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Afraid of DeFi? Here’s how to earn 41% APY on Bitcoin without wrapping it

Decentralized finance yields are incredibly attractive, but options markets can also provide similar sized returns for those willing to take risks. The number of investors interested in yield farming has grown immensely over the past 6-months as decentralized finance (DeFi) applications became better known and easier to use.  This has led to an uncountable number of liquidity pools offering annual percentage yields (APY) surpassing 1,000% and the total value locked in DeFi contracts has risen to billions of dollars. Bitcoin investors who wanted a piece of the action managed to…

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US Senate Candidate Is a Hodler, Sees Bitcoin as Alternative Store of Value to US Dollar

US Senate candidate Cynthia Lummis is pro-bitcoin. She bought her first bitcoin during her time in Congress. Now she calls herself a hodler and sees the cryptocurrency as a viable alternative store of value to the US dollar. Bitcoin Advocate in the Senate Cynthia Lummis served Wyoming as a conservative Republican in the U.S. House of Representatives for eight years. She is now in the running for the U.S. Senate, with the endorsement of President Donald Trump. Lummis revealed during the third annual Wyoming Blockchain Stampede on Sunday that she…

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Malaysian billionaire steps down to pursue ‘horse currency’ offering

“I am handing over the public-listed company’s business to the new directors and I will concentrate on cryptocurrencies,” said the 65-year-old. The founder of Malaysian investment giant Country Heights Holdings is stepping down from his position to focus on issuing a cryptocurrency. According to a Sept. 28 article in news outlet The Edge Markets, billionaire Lee Kim Yew — also known as Lee Kim Tiong — will no longer be the executive chairman of Country Heights as of Jan 2021.  “I am handing over the public-listed company’s business to the…

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