He added: "You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed."
Meanwhile, the chairwoman of the Federal Deposit Insurance Corporation said recently U.S. officials are looking to provide guidance on how banks and their clients can hold cryptocurrencies, according to reporting by Reuters.
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“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
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Amsterdam-based bitcoin mining firm – Bitfury Group – appointed Brian Brooks as its new Chief Executive Officer. His previous experience includes serving as the United States Acting Comptroller of the Currency and being in charge of Binance US.
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Crypto.com has become the first official global marketing partner of Twitch Rivals.
It’s the first time Bitcoin has been adopted as a legal tender in a sovereign nation.
Like most things with cryptocurrency, regulation comes with hurdles. “There are different agencies that may or may not have jurisdiction to oversee everything,” says Wang. “And it differs state by state.”
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Following the platform’s launch, up until November 1, 2019, the trading fees on the Binance.US will be kept at zero for all supported trading pairs. This move is described as a part of the company’s efforts to remove barriers to a broader adoption of crypto assets.
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Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
A cryptocurrency monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties such as central banks, corporations or governments. Cryptocurrencies are powered by cryptographically secure, verifiable transaction databases called blockchains, which provide their security and transparency.