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Members Area Crypto Daily BitDigest March 19 · Issue #618

Crypto Daily BitDigest March 19 · Issue #618

March 19, 2020

Gregory Landegger AUTHOR OF BITDIGEST, DAILY CRYPTO NEWSLETTER

BitDigest March 19 · Issue #618

Crypto markets are late to celebrate St. Patrick’s Day, but shining green this morning. Excluding dollar pegged stable coins, the top 50 digital on Coinmarketcap.com are all in positive territory over 24-hours

Singapore’s fnancial watchdog has released updated AML guidelines covering virtual assets South Korea and are preparing own oversight regimes ahead of the G7’s upcoming FATF implementation deadlines Every few days I ending up talking about one of the North American public companies participating in the digital ecosystem. While I will continue to report on their respective corporate announcements, I am going to start providing the following basic chart every week to show key market data. I am happy to consider adding names to this list.

The Headlines

Singapore Updates AML Crypto Guidelines

WWW.MAS.GOV.SG

The Monetary Authority of Singapore has released new guidelines on prevention of money laundering and countering the fnance of terrorism. The updated framework highlights the risks arriving from the use of continually evolving virtual assets including its potential abuse due to its pseudonymous nature, the convenience they provide as a near-instantaneous value transfer medium, and the cross-border nature of its transactions.

Canada to Increase Crypto Oversight and Surveillance WWW.COINDESK.COM

Canada’s fnancial watchdog is preparing to increase oversight of digital currencies as part of its adherence to the G7’s Financial Action Task Force’s June deadline. Companies with over $10,000 CAD in crypto business activity will be forced to register as a Canadian money service business and any transaction over $1,000 will required detailed KYC documentation on both the sender and receiver.

South Korea Preparing for FATF Crypto Framework

WWW.DECRYPT.CO

South Korea is working with local crypto frms to activate the country’s Special Financial Information Law (SPIL) a regulation requiring businesses to register with fnancial authorities and adhere to the Financial Action Task Force (FATF) guidelines. “The Special Financial Information Law prevents money laundering and criminal activities using digital assets, and it complies with international standards for digital asset regulation,” the Financial Intelligence Unit explained.

Hawaii Launched Digital Currency Innovation Lab

WWW.GOVERNOR.HAWAII.GOV The State of Hawaii launched a “Digital Currency Innovation Lab,” a pilot initiative allowing approved digital currency issuers to do business in the fftieth state without the requirement of a state money transmitter license. Insights gained during this two-year test will be used to guide the development of legislation and determine the future of digital currency activities in Hawaii.

Gemini Growing European Team

WWW.LINKEDIN.COM

It looks like Gemini Trust is looking to expand its presence in the European market. A new job posting has appeared on LinkedIn looking for a “Director, European Sales” who can help grow the exchange’s business activities including Gemini Custody across Europe.

Market Data

Bitcoin Activity Increasing

WWW.DAILYHODL.COM According to Whale Alert, a tracking app following activity on major digital currency exchanges, over $560 million of (107,209 BTC) has moved between unknown wallets and exchanges signifying the potential of large upcoming trades.

Competition Among Miners Increasing as Pool Dominance Subsides

WWW.DAILYHODL.COM According to Whale Alert, a tracking app following activity on major digital currency exchanges, over $560 million of bitcoin (107,209 BTC) has moved between unknown wallets and exchanges signifying the potential of large upcoming trades.

Exchange, Custody and Product News

Huobi to Eliminate Sudden Liquidations of Leveraged Positions

WWW.PRNEWSWIRE.COM In what may be a crypto frst, Singapore-based Huobi is introducing a process to systematically minimize user exposure during times of severe market volatility. Huobi’s deriavtives exchange will implement a partial liquidation mechanism that gradually reduces a user’s positions rather than liquidating them in full in a single event.

BitGo Increasing Insurance Coverage Over $100M

WWW.FINANCEMAGNATES.COM Crypto custodian Bitgo announced it has obtained excess specie insurance allowing users to selectively purchase their own dedicated excess limits above BitGo’s $100 million policy.

Binance Introduces Peer-to-Peer Trading for South American Currencies

WWW.BINANCE.COM

Binance has announced the launch of peer-to-peer (P2P) trading South America. Users can now buy and sell bitcoin (BTC), ether (ETH), tether (USDT), and Binance’s native token (BNB) and dollar pegged stablecoin (BUSD) against the (BRL), Argentine (ARS), (COP), (MXN) and Peruvian sol (PEN).

Thoughts on the Ecosystem

BitMEX Questions Regulatory Approval of Digital Currencies

WWW.BLOG.BITMEX.COM BitMEX research expects that a central bank digital currency (CBDC) replacement for paper money would increase credit expansion while it believes allowing retail customers to have deposits directly with the central bank would casue contraction. BitMex does not believe fnancial regulators are likely to allow either of these CBDC schemes to succeed in any meaningful way.

Bitcoin Will Still 'Moon'

WWW.MOBILE.TWITTER.COM

Crypto analyst Will Woo says the market is still “looking for its bottom” as investors are experiencing a “fight to safety,” but looking forward he remains positive tweeting that “once the bottom is in there are strong bullish pressures ahead. It’s this economic environment in the years ahead that Bitcoin was built for.”

BitDigest is a weekday news update on digital currencies and blockchain technology distributed by Parsons & Whittemore, a single-family ofce based in Rye Brook, New York. It is being distributed to subscribers of FSInsight Digital Assets under agreement with the Author. The commentary, analysis, opinions and recommendations in this newsletter represent the personal and subjective views of the Author, and are subject to change at anytime without notice. The information provided in this newsletter is obtained from sources which the Author believes to be reliable. However, the Author has not independently verifed or otherwise investigated all such information. Neither the Author, FSInsight nor any of their respective afliates make any guarantee or other promise as to any results that may be obtained from reading this newsletter. While past performance may be analyzed in this newsletter, past performance should not be considered indicative of future performance. No reader should make any investment decision without frst consulting his or her own fnancial advisor and conducting his or her own research and due diligence. BitDigest is not making a solicitation or ofer to buy or sell any securities of any kind.

Gregory Landegger AUTHOR OF BITDIGEST, DAILY CRYPTO NEWSLETTER Disclosures (show)