Recap | Crypto markets rattled, Bitcoin breaks below $10k as altcoins crash | “Keep Big Tech Out of Finance Act” proposes $1 million per day fine on tech companies acting as financial institutions
BTC: $9464 / ETH: $197.87 / XRP: $0.29 / BCH: $276.73 / LTC: $79.33
|CryptoSlate||Jul 16, 2019|| 2|
Forty-year trading veteran Peter Brandt made the headlines earlier this month when he stated that a violation of the “parabolic phase” that started in December 2018 could ignite an 80 percent correction of the entire parabolic advance.
After the major surge in mid-December 2018, the market seems to have found an exhaustion point. The retrace gives an opportunity for sideliners to buy in before the next upswing.
“Keep Big Tech Out of Finance Act” proposes $1 million per day fine on large tech companies acting as financial institutions
A recent bill, “Keep Big Tech Out Of Finance Act,” recommends prohibiting giant tech firms from serving as financial institutions or launching their own cryptocurrency.
The co-founder of Ethereum, Vitalik Buterin, proposed using Bitcoin Cash as a short-term solution for adding a data availability layer to Ethereum.
Despite an initial difference in mining speed between the two Bitcoin forks, an increase in BTC’s hashpower has been steadily narrowing Bitcoin’s supply lead.
Tether, the issuer of the USDT accidentally issued $5 billion worth of its own stablecoin while Poloniex was conducting a USDT chain swap from Omni to Tron.
In a recent briefing held by the U.S. Secretary of the Treasury Steven Mnuchin, the U.S. government revealed its stance on cryptocurrencies and the efforts it will carry upon to regulate Bitcoin because of its use in criminal activity and the threat it poses to the financial system.
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