Transparent financial systems won’t get real traction, blockchain exec argues

As the conversation around privacy intensified with the recent Litecoin (LTC) upgrade called Mimblewimble and regulators’ reaction to the feature, Adrian Brink, the founder of blockchain protocol Anoma, weighed in on the topic and shared his perspectives to Cointelegraph.  According to Brink, privacy is an essential tool for democracy because it prevents huge corporations from targeting people and segregating them into different bubbles. The Anoma founder told Cointelegraph that: “The fact that you have surveillance capitalism allows micro-targeting to such an extent that it can put people into their own…

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SEC has no authority over crypto, CFTC commissioner argues

Amid the United States Securities and Exchange Commission (SEC) expanding the scope of oversight of the cryptocurrency industry, a commissioner with the Commodity Futures Trading Commission (CFTC) argued that crypto regulation doesn’t fall under the SEC’s jurisdiction. CFTC commissioner Brian Quintenz took to Twitter on Wednesday to declare that cryptocurrencies like Bitcoin (BTC) should be regulated by the CFTC rather than the SEC. Quintenz stressed that cryptocurrencies are commodities and thus fall under the CFTC’s jurisdiction, as opposed to securities that are regulated by the SEC, stating: “Just so we’re…

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Ethereum price can gain 40% on Bitcoin, argues analyst as London fork nears

Ether (ETH) could rise by almost 40% against Bitcoin in the coming trading sessions, according to one analyst.  So believes Michaël van de Poppe, an Amsterdam-based market analyst who predicts that the ETH/BTC exchange rate would climb from its current 0.05-0.06 sats range to as high as 0.07 sats soon. The technical chartist based his bullish analogy on the pair’s support level at 0.063 sats. The price floor was instrumental in maintaining ETH/BTC’s bullish bias during the mid-May 2021’s notorious crypto market crash. It also served as solid support during…

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Vitalik argues that proof-of-stake is a ‘solution’ to Ethereum’s environmental woes

At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late. In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x. The comments come amid a period of rampant…

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Africa is the future of DeFi, argues Cardano’s Charles Hoskinson

In one of his frequent Youtube missives to his following, CEO of IOHK — the developers behind the Cardano Blockchain — Charles Hoskinson revealed that the company’s long-term developmental focus will hinge on Africa, going so far as to say the world’s second-most populous continent might be the future for decentralized finance (DeFi) development.  ““When we ask ourselves, ‘who will be the consumers of DeFi who will be in need of identity systems and payment systems and new ways of representing equities’ — will it be the ossified, highly regulated…

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NYC court has no right to hear ‘international’ case argues Bancor firm

The legal team for a crypto firm facing possible securities law violations is asking for the case to be dismissed on geographical grounds.  According to court records filed Oct. 13 in the U.S. Southern District of New York, lawyers for blockchain firm BProtocol Foundation argued that a court outside the U.S. would be more suited to oversee the case due to the “international” nature of the complaint. The BProtocol Foundation legal team said the complaint was “based on a man in Wisconsin using an exchange in Singapore to purchase tokens…

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XRP Is Not a Security, Argues US Congressman Tom Emmer

On Aug. 20, Representative Tom Emmer (R-MN) held the first ever Cryptocurrency Town Hall, bringing together a number of leaders from the Blockchain space. Conducted in collaboration with the Chamber of Digital Commerce PAC, the event featured major crypto figures like Circle CEO Jeremy Allaire, Ripple CEO Brad Garlinghouse, eToro’s Guy Hirsch, BitPay’s CEO Stephen Pair, and Paxos’ Chad Cascarilla. Ripple CEO Garlinghouse outlined that the biggest challenge faced by Ripple so far is the lack of clarity around the regulatory status of XRP. “The biggest challenge Ripple has faced…

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Holding Ripple’s XRP is “Not an Effective Strategy,” Argues Top Analyst

XRP, the underlying token of the Ripple’s flagship blockchain, is not a practical cryptocurrency for holding, said a top market analyst. The statements appeared in the wake of XRP’s dismissive performance in 2020 against its better-performing rivals, such as bitcoin. The analyst said the Ripple token could fall by another 50 percent before it pursues a retracement price rally. Holding XRP is not an effective strategy, says a top cryptocurrency analyst. The Ripple blockchain’s native asset is down by more than 91 percent from its all-time high, explained the pseudonymous trader,…

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Canaan Used ‘Bogus’ Deal to Attract Investment, Argues Analyst

A report by Marcus Aurelius Value, an analysis organization, argues that the Nasdaq-listed ASIC manufacturer Canaan (NASDAQ: CAN) misrepresented its potential revenue for 2020. At least one of its clients is an alleged related party who is unable to honor the $150 million purchase contract. Aurelius Value also considers Canaan’s AvalonMiner series to be uncompetitive within the ASIC market, noting that the manufacturer’s R&D budget is vastly inferior to competitors like Bitmain. Following the Feb. 20 report, the analysts have deemed the company’s stock to be uninvestable and revealed that…

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Quantstamp Defends QSP, Argues US Dollars, Ether Accepted Out of ‘Necessity’

A week after Quantstamp community members began accusing the smart contracts auditing startup of undermining the value of its $65 million token, the company responded with a statement on Thursday. As previously reported by CoinDesk, for at least the past week, Quantstamp token holders have been alleging that the company misled them by accepting U.S. dollars and ether, rather than its token, QSP, as payment for its auditing services. According to the company’s published materials, customers are meant to trade QSP to pay for, receive and improve verification services within…

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