Many people in the crypto space have likely had experiences where others ask them questions about various aspects of cryptocurrency, and trying to cohesively explain all the intricacies in one sitting can be a challenge. This tricky situation is what inspired the latest report from Cointelegraph Research.Continue Reading on Coin Telegraph More
In general, investors can reduce the risk of wash-sale rule violations by waiting at least 31 days before buying back a substantially identical security or crypto asset, or by selling a security or crypto asset at a loss and immediately buying a similar but not substantially identical security or crypto asset. Continue Reading on Coin Telegraph More
As a news site dedicated to keeping readers safe regarding crypto trading, DailyCoin will provide reviews of crypto projects catering to a diverse clientele.This review will look into Cryptex, a crypto exchange that has been in operation since 2017 and is headquartered in the United Kingdom.Since 2017, Cryptex has provided a wide range of financial services for cryptocurrency trading to both individuals and businesses.Their offerings include spot trading, OTC desk,…Continue Reading on DailyCoin More
Litecoin creator Charlie Lee argued in a recent tweet that it’s difficult to dispute the worth of Litecoin. LTC is a cryptocurrency that boasts several advantages, such as low transaction fees, compatibility with Bitcoin’s protocol, similar game theoretical attack risks as Bitcoin, and its own dedicated set of ASIC miners ensuring security.Lee also added that Litecoin has been launched fairly and has a track record of 11.5 years with no downtime.At present, Litecoin is valued by the market at slightly above 1% of Bitcoin. While it’s debatable whether this valuation is fair or not, Lee believes that the market’s estimation is on point. However, according to Lee, Litecoin has enormous potential due to its superior design, which facilitates higher throughput compared to Bitcoin.Additionally, the founder cited that Litecoin’s scalability is enhanced through extension blocks, which enable it to integrate new features without disrupting the existing network. Moreover, with the integration of MimbleWimble Extension Blocks (MWEB), Litecoin’s privacy and fungibility are expected to improve significantly.Lee anticipates that Litecoin has the potential to reach an upside target of 10% (0.025 LTC/BTC) in the future. “Even in the next bull market, achieving 5% (0.0125) should not be a challenging feat.”In his opinion, it is unlikely for Litecoin to go below the 1% mark (0.0025) on the downside. It’s also worth noting that the next halving event is set to occur in approximately 92 days, which is an exciting time for the Litecoin community.Overall, the LTC founder believes that the future of Litecoin looks promising, and it will be intriguing to observe how it evolves in the upcoming months.The post Litecoin Has A Ton Of potential: Founder Charlie Lee On LTC’s Future appeared first on Coin Edition.See original on CoinEdition More
The lawsuit stemmed from claims made in a February 2021 YouTube video by crypto influencer Emre Aksoy linking Sirer to an Islamist group the Turkish government calls the Fethullah Terrorist Organization (FETO).Continue Reading on Coin Telegraph More
New York Magazine writer Jen Wieczner recently reached out to a few crypto and government officials to ask about Operation Choke Point 2.0. She stated that she found troubling cases and sources that stated that this is more than a conspiracy theory.Wieczner stated that she reached out to five regulatory agencies, including the OCC, Fed, FDIC, NYDFS, and SEC, to inquire about Operation Choke Point 2.0. She stated that a White House spokesperson said that the allegations were categorically false. However, another administration official stated that much of it is a coincidence in timing.One primary thing that she pointed out was the joint statement by the Fed, FDIC, and OCC in January. She cited the statement that mentioned crypto activities are “highly likely to be inconsistent with safe and sound banking practices.”Wieczner spoke about the seriousness of the statement and said:Operation Choke Point 2.0 is alleged to be a secret mission by the Biden administration. The operation is aimed at bringing down the cryptocurrency industry in the US. The alleged operation seems to be quite active, which is evident from the actions of regulators, including the SEC and others.This targeted action by the US regulators comes at a time when other global nations are trying to embrace the cryptocurrency industry.The post White House Spox Says Operation Choke Point 2.0 Is Categorically False appeared first on Coin Edition.See original on CoinEdition More
According to a report published in Bloomberg, Dubai’s Virtual Assets Regulatory Authority (VARA) sent a written notice to Zhu and Davies along with two other OPNX executives. In a statement to Bloomberg, VARA said it is still investigating the exchange’s activities and reportedly assured corrective measures would be taken against the firm for violating laws.Continue Reading on Coin Telegraph More
The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) has levied a $7.59 penalty on California-based crypto exchange Poloniex. The crypto exchange has agreed to pay the amount in order to settle the charges related to the alleged violation of multiple sanctions programs.As per a press release from the Office of Foreign Assets Control (OFAC), the multi-million dollar penalty is part of a settlement agreement that will clear Poloniex of any potential civil liability associated with the violations that allegedly occurred over the past decade.The Treasury Department’s OFAC alleged that between January 2014 and November 2019, Poloniex allowed customers from sanctioned jurisdictions including Crimea, Cuba, Iran, Sudan, and Syria, to engage in online digital asset-related transactions on its platform. Users were allegedly allowed to trade, deposit, and withdraw a combined sum of $15.3 million.OFAC accused the crypto exchange of offering services to customers from sanctioned regions, despite having sufficient data of their location from know-your-customer (KYC) formalities and internet protocol (IP) address data. The exchange was also accused of failing to screen existing customers to identify users from sanctioned jurisdictions.However, Poloniex reportedly took corrective action and started implementing a block on IP addresses from sanctioned regions starting in June 2017. In fact, the crypto exchange implemented a sanctions compliance program in May 2015, which required a review of KYC information for new customers in jurisdictions subject to OFAC sanctions.OFAC revealed that as per its Economic Sanctions Enforcement Guidelines, the penalty on the exchange would be more than $99 million. “The settlement amount reflects OFAC’s determination that Poloniex’s apparent violations were not voluntarily self-disclosed and were not egregious,” the agency added.The post OFAC Imposes $7.6 Million Fine on Poloniex For Violating Sanctions appeared first on Coin Edition.See original on CoinEdition More
