Crypto Traders Turn to Crypto Loans To Buy Cheap Bitcoin During the Dip 4666

Have you noticed the crypto market’s volatility lately? It seems every week there are new opportunities to capitalize on one coin’s surge and another’s decline. However, are you being an active crypto participant and taking full advantage of these opportunities or just sitting quietly by watching your portfolio take a hit? If you think crypto trading is only for seasoned experts, you’re wrong. Crypto loans are a fantastic tool to step foot into the profitable world of crypto trading and here’s how.

Use crypto loans to buy the dip and profit later

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Take a look at this Ethereum/USD (ETH) chart. On September 2nd, ETH took a colossal fall from $475 to $335 dollars. Since then, it’s rallied over 10% to 368. Now, if you are simple HODLing ETH, your portfolio took a hit and is starting to recover. While that’s nice, you are not using the full potential of your crypto. That’s where crypto loans come in.

Using your ETH as collateral, you can receive an instant cash loan. Then, while the market is in the red, you use those funds to buy more ETH. Later, when the recovery starts and ETH starts increasing, you profit from that deal and also offset some of your losses from the previous dip.

There are several platforms that can help you do this but nto all are created equal. FinTech platform YouHodler has the best mix of value, innovation and efficiency to help you climb the ranks of the crypto world.

7 reasons why crypto loans on YouHodler are the best

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To get an instant crypto loan with the best value and features, YouHodler is by far the top platform on the market for the following reasons.

  1. Industry best loan to value ratio (LTV) of 90%
  2. Withdraw fiat funds directly to bank account or bank card
  3. Top 20 coins as collateral options
  4. $150 million pooled crime insurance from Ledger Vault
  5. Receive a loan in USD, EUR, CHF, GBP, BTC and stablecoins
  6. Flexible loan terms and customizable loan management tools
  7. 24/7 customer support

Other creative ways to use crypto loans on YouHodler

Besides their classic crypto loans, users can profit from market volatility in either direction with YouHodler’s original Multi HODL tool. Powered by their innovative crypto lending engine, Multi HODL helps users buy more crypto or sell more crypto depending on which way the market is going.

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Users simply choose the source, the amount, how much they want to multiply their crypto, and the direction they think the market will go in (up or down). In addition, users can set their own Take Profit and Margin Call levels to make sure they exit the market precisely at the right time without having to watch the charts 24/7.

So next time the market takes a dip, don’t just sit there passively waiting for it to go up again. Activate your crypto and make it work for you with the power of crypto loans.

Click here to get cash now at YouHodler

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Digital assets in business activities 20362

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The introduction of cryptocurrencies encouraged business owners and individuals to preserve their capital in a decentralized currency. Instead of cash, they prefer advanced financial instruments, which are currently the basis of the new economy, as well as conducting business activities in digital rather than in paper form.

Smart contracts as a replacement for paper documents have their own algorithm, and smart contract transactions are guaranteed by a digital asset (DA), which is an information resource derivative of the right to a value and circulating in the distributed ledger in the form of a unique identifier.

In other words, a digital asset ownership confirms the ability to dispose of the right to a digitized object (any values, such as real estate, securities, shares in business, means of transport, facilities, etc.).

Digital asset: essence and components

The concept of a digital asset includes several components:
· economic – determination of properties of a unique identifier;
· legal – representation of the property of a digital asset as a derivative of the right to a value;
· information – data on digital assets recorded on digital media and structured, thus providing capability of storing, transferring, exchanging, etc.;
· value – digital representation of values of a digitized resource.

A blockchain token possessing certain properties can be a digital asset. This can be digital data in the form of a video/audio file or a set of electronic documents, e.g. folders on a PC. Thus, here appears the main difference between cryptocurrency and a DA, which is that the first is not backed by property/property rights. It should also be noted that digital assets circulate in digital environment according to the protocol, which establishes the rules and conditions of this circulation, so that they cannot be copied during transferring.

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There is another difference between a digital asset and cryptocurrency, which is that an asset as a unique identifier is more secured. This is due to the territorial (geographical) reference to the country of digitized resource registration (location, use). The concept of a digital asset and the use of such an instrument can vary significantly in different countries, since there are considerable differences in methods for assessing real assets and their accounting.

The scope of digital assets is quite wide. Thus, they can be used for:
· financial transactions without involving financial intermediaries (exchange websites) and high fees;
· preserving a value of funds, i.e. no one will ever freeze your account, since you need to have a secret key;
· investment;
· confidential transactions;
· purchasing or providing services;
· high-priced purchases (starting with exclusive cars and jewelry to works of art).

Moreover, you can buy or sell a token, with a right of a digital asset, as an intangible asset in the course of business activities of an enterprise. It is necessary to correctly determine the type of a blockchain token as different states developed their own tests and guidelines for testing them. The reason is the risk of investing in the project and the loss of substantial amounts of money if there are no legal grounds for distribution of a token.

Crypto Testing Options

There exist several testing methods that differ in a number of criteria:
· The Howey Test determines transferring or distributing of a token, as securities transaction;
· The MFSA Test determines correspondence between assets based on the DLT technology and virtual tokens, which makes it possible to regulate them under the laws of the European Union.
· The FINMA Token Classification allows classifying tokens as securities subject to their commercial sale. However, cryptocurrencies and payment services are not included in this category and remain under the anti-money laundering rules.
· The digital asset diagnosis is the Digital Asset Test developed by Simcord, which allows determining whether this token can be classified as a digital asset or not. The test is based on the 16-point scale of a blockchain token belonging to the category of digital assets.

As a result, a digital asset has become more popular than cryptocurrencies as it ensures safety of digitized tangible and intangible values. That is the ownership of a digital asset that provides more opportunities for learning new, high-tech format of the economy and business activities.

Bitcoin Association Becomes Switzerland Non-profit Association, Expands Global Work to Advance Bitcoin SV 22888

Bitcoin Association, the global industry organization that advances Bitcoin SV, announces it has become a non-profit association (Verein) in Switzerland. The Association supports Bitcoin Satoshi Vision (BSV) because it is the only project adhering to Bitcoin creator Satoshi Nakamoto’s original protocol, design and vision for Bitcoin to become a peer-to-peer electronic cash system and global data ledger for enterprise.

The initial Voting Members of the new Association are: CoinGeek (entrepreneur Calvin Ayre’s multi-faceted Bitcoin mining, media and investment business); nChain (the leading global blockchain technology company where Bitcoin creator Dr. Craig S. Wright is Chief Scientist); TAAL Distributed Information Technologies, Inc., a publicly-traded Canadian company involved in blockchain transaction processing (mining) and infrastructure; and Jimmy Nguyen, global advocate for Bitcoin SV and the Association’s Founding President.

The Association’s Executive Committee consists of: President Jimmy Nguyen; Vice President Steve Shadders, CTO of nChain; Calvin Ayre, Founder of CoinGeek; Stefan Matthews, Chairman of TAAL; and Jodok Wicki, a partner at the CMS von Erlach Poncet Ltd. law firm in Zurich, Switzerland and counsel to the Association.

Under its previous structure, the Bitcoin Association grew to approximately 1500 members from over 65 countries – including enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners) and others in the Bitcoin SV ecosystem. The new Association will transition to a new membership structure, with Voting Members, Non-Voting members and Affiliates, in order to better serve the differing interests across its broad range of constituents. Information about participation options for 2020, which will serve as a transitional year, as well as details about future years will be communicated to all members of the previous organization structure.

Bitcoin Association’s Founding President Jimmy Nguyen commented on the move, saying: “As I have said before, it is time for Bitcoin to grow up. That means that the industry, especially its technology development, business infrastructure, and regulatory oversight, need to mature. This also means that our own organization needs to take steps forward in its maturity. Switzerland is a renowned global capital for finance, technology and digital currency. It is an ideal base for our global association, as we lead the maturation of the entire Bitcoin industry and significantly increase our international activities to advance Bitcoin SV. We also expect more exciting BSV developments to happen in Switzerland as a result of this move.”

Interest in Bitcoin Association has rapidly grown as Bitcoin SV has captured the digital currency spotlight. The BSV blockchain has seen application development explode globally as developers and businesses make use of BSV’s superior scaling, data and micropayments capacities. Growing usage has led BSV’s daily network transactions and average block size counts to regularly surpass BTC and even surpass the Ethereum network on some days.

To further accelerate BSV’s growth, the Bitcoin Association has an ambitious agenda for 2020 and beyond. This includes work to support the underlying BSV technical infrastructure; standards setting with a new Technical Standards Committee; host and sponsor Bitcoin SV business conferences, programs and events around the world; launch a developer training curriculum, Developer Conferences (“BSV DevCons”) and workshops; conduct global media work in multiple languages; and policy work with government bodies to encourage responsible usage of Bitcoin and blockchain technology.

Bitcoin Association’s efforts are truly global. To carry out its work, the organization has built an international team, including staff in Australia, China, Japan, Singapore, Switzerland, United States, and United Kingdom. They are supported by Bitcoin Association Global Ambassadors in Argentina, Australia, Brazil, China, Germany, Israel, Japan, Netherlands, Panama, Russia and CIS region, the Scandinavia region, Slovenia, South Africa, South Korea, Spain, and the United States.

If you are a business or developer interested in Bitcoin SV, join the new Bitcoin Association for BSV and participate in building the future of Bitcoin and blockchain. We welcome participation by anyone interested in Bitcoin SV, even if you also support or work on other blockchain or digital currency projects. Visit our website at new.bitcoinassociation.net/swiss-membership/ to learn more about the new Bitcoin Association’s membership structure.

New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments 57173

The draft law on the prevention of the legalization of proceeds from crime and the financing of terrorism and weapons of mass destruction proliferation was supported by a significant majority in the Rada. The bill was amended to incorporate “virtual assets” which have been described as property and as a digital expression of value that can be traded or transferred and used for payment or investment purposes.

Ukraine’s anti-money laundering (AML) legislation introduces the standards for virtual assets adopted this year by the Financial Action Task Force (FATF). The members of the inter-governmental organization recently agreed to monitor and assess the implementation of the crypto requirements in different countries, as news.Bitcoin.com reported in October.

The law also introduces the term “provider of services related to the transfer, exchange and storage of virtual assets,” the crypto information outlet Forklog reveals in an article. An interesting detail is that not only corporate entities but private individuals as well will be allowed to offer such services under the new regulations.

All crypto operations will be subject to different levels of financial monitoring depending on the amount and destination of each transaction. The Ministry of Digital Transformation, which has been quite active this year, will be tasked to regulate the circulation of virtual assets in Ukraine. It will also conduct oversight to verify compliance with AML regulations in the crypto sphere.

Nordea Wins Danish Court Battle to Ban Staff Trading in Bitcoin 53897

Nordea Bank is free to prevent its employees from investing in Bitcoin and other cryptocurrencies in their own time, a Danish court ruled.

The risks associated with cryptocurrencies justify the restriction, according to a verdict published on the Copenhagen-based court’s website late Monday. Denmark’s union for financial industry employees had filed suit against Nordea, saying the ban interfered with employees’ personal lives.

In a January 2018 memo, Nordea told staff that “the risks were too high” because the cryptocurrency market isn’t regulated and had been linked to criminal activity, including money laundering. Employees might damage the reputations of Nordea and its customers, the bank said.

The restriction didn’t cover financial instruments tied to cryptocurrencies that Nordea had sold to clients; nor did it apply to any cryptocurrencies that employees might have owned before the ban.

“We filed suit because of the principle that everyone obviously has a private life and the right to act as a private individual,” Kent Petersen, the union’s chairman, said in a statement. “It was important for us and our members to establish what rights managers have. In this case, it was more far-reaching than what we find to be appropriate.”

Former CFTC chair and ‘Crypto Dad’ says 2019 is the year to get serious about crypto policy 51741

Former CFTC Chairman Christopher “Crypto Dad” Giancarlo left his role at the regulator this summer, but now he’s stepping even further into the crypto world. Now as a board member for the Chamber of Digital Commerce, Giancarlo is using his expertise to further policy talks across the board, not just on a CFTC/SEC level. Giancarlo sat down with The Block to talk transitions in the regulatory space, as well as his own transition in the industry.

The Block: At the time of your departure from the CFTC how do you feel attitudes toward crypto have shifted from the time you took the position as chairman?

Giancarlo: I think quite dramatically, one of my perspectives on the CFTC at the time I took the helm, it was inordinately backward-looking, perhaps justifiably, but inordinately. So much of its energy and attention was on completing Dodd-Frank reforms to derivative markets. And in Dodd-Frank, there’s no mention about anything technological including crypto assets or blockchain, and the agency’s attention was primarily drawn to that. To its credit, the agency had developed an informal working group under Jeff Bandman that was looking at emerging crypto assets, primarily bitcoin. It was that effort that I accelerated with the formation of Lab CFTC.

The Block: How are you looking at the EOS and Sia settlements with the SEC? Can you provide any insight into what might have gone on there?

Giancarlo: One of the things I want to avoid doing is commenting on activities by the agency. I’m not the type, and don’t want to be seen as the type of former chairman who is looking over the shoulder of the incoming team and commenting on them. What I would say is that it generally shows a continuing focus and attention in this space by the agencies.

The Block: How have you seen the attitudes of regulatory bodies shift in recent years? What is the current attitude characterized by?

Giancarlo: 2017 I think was the year that regulators really woke up to the accelerating pace of crypto assets because of the bitcoin bubble. I would say 2019 is the year in which there’s a growing recognition that regulators and policy makers need to do more than just be aware of these, but may actually need to look at some policy responses. And I think the thing driving that in 2019 is a combination of Libra and the prospects for central bank digital currencies.

The Block: Looking at recent developments, we saw Regulation A+ emerge as a possibly compliant way forward for some companies. What is your take on that innovation, and what other innovations can we perhaps expect to see?

Giancarlo: I think that it shows that the SEC under Jay Clayton is moving beyond just getting smarter and more aware, but actually thinking about some of the policy responses.

The Block: I understand you’ve said you’re not interested in looking over new leadership’s shoulder, but members of the SEC have said they feel federal securities laws adequately tackle digital assets because they are technology agnostic. Do you see the legislation as operating fully for the digital assets space?

Giancarlo: I would go further afield than just SEC/CFTC specific. I do think the time has come for thoughtful consideration of a digital dollar. I think that the dollar’s status as the world’s primary reserve currency should be enhanced with a digital component and done in a way that doesn’t have to disintermediate the traditional banking system but can be done so traditional finance financial intermediaries can play a role in a digital component to the dollar. I don’t see the Federal Reserve becoming a deposit-taking institution, but where banks would continue to do that, but would use a uniform set of technology protocols in order to provide access to a digital dollar format.

The Block: Looking into some of your ventures now, I understand you’ve joined the Chamber of Digital Commerce.

Giancarlo: Yes. I’ve been very impressed with their work over the past several years in serving as a sort of a go-between. There’s this FinTech phase of innovation and policymakers helping to both translate the technology into concepts and things that policymakers can understand and interact with and giving policy makers a similar ability to interact with the innovators. And so I think with the chamber, almost uniquely, I think provides a very good interface between the world of Washington and the world of financial innovation.

The Block: I remember I read somewhere when you joined that you were looking to streamline and modernize the regulatory landscape. Which areas are you specifically immediately looking to streamline and modernize in your role on the board?

Giancarlo: As a former chairman, I will leave the new leadership to focus on CFTC-related matters, and I have every confidence in the leadership of the SEC to do that. But there’s a need for policy makers and innovators to come together to lay down a policy framework upon which these innovations can move forward with greater regulatory and legal certainty. A good example, although not a perfect analogy, is the period during the Clinton Administration when a Republican Congress and the Democratic administration came together to develop the foundation for the first phase of the internet revolution, the digitalization of information.

It’s a do-no-harm approach that allowed for very rapid innovation and global leadership. The reason why it’s not a perfect precedent is because digitization of information is a process that certainly falls into a regulatory light zone because of the First Amendment restrictions on regulation of speech. When it comes to financial areas, that’s always been a regulatory heavy zone. Some of the same precedents don’t apply, but what I think should apply is that same commonality of purpose between policy makers and innovators to want to create a regulatory and policy foundation upon which innovation can proceed in a way that is, intelligent, that’s thoughtful, aware of policy concerns, whether it be about privacy, whether it be about appropriate anonymity, whether it’d be about regulatory transparency,or for oversight where we can make sure that the right policy imperatives are brought to bear and yet a framework that can bring certainty to innovators so that they can move forward with innovation, and knowing the consequences of decisions they make.

So what I hope to do in my post-CFTC life is be an advocate for sound policy development. Not CFTC or SEC specific, but across the board where I can use skills I have as a communicator and an advocate for innovation in a well-regulated environment, and with relationships I build, hopefully help communicate that message for the need for sound policy here in the U.S. So that once again the U.S. can emerge as a leader in this new phase of the digitization of our modern world, digitization of finance in this case.

The Block: You’ve been affectionately dubbed “Crypto Dad” by the industry. How do you feel that title came about and where did this generosity towards digital assets stem from, especially in a regulatory environment some consider hostile towards the digital asset world?

Giancarlo: So the title came about out of that February, 2018 hearing that chair Clayton and I did before the Senate Banking Committee. We had been asked to testify on Bitcoin and crypto assets. We’d prepared a lengthy written testimony to Congress, and the night before, I was preparing my oral remarks and I looked at this 60-plus page, 100-footnote document and said, you know, I cannot summarize that in five minutes. I went in the next morning and when I was asked to speak in my opening address, I actually put the paper down and said, look, you’ve got my written submission. What I want to do is speak to you for a moment not as a chairman of a regulatory agency, but as a father, as a dad. I explained that I had just come back from our annual family ski trip with my children and my nieces and nephews and at the dinner table every night all they wanted to talk about was Bitcoin.

My children grew up in a financial family. I’ve worked on Wall Street for my career and I’ve tried to interest my kids in the stock market since they were young, and they had no interest in it and suddenly they’re very, very interested in Bitcoin. And some of my nieces, in fact, one of my nieces was a bitcoin holder. I said to Congress, I noticed some of your heads are nodding, some of you probably have the same conversations. I said, it strikes me that we owe it to this generation to treat their interest in this new asset class not with derision and disdain, but with respect. If nothing else, we owe it to them to get the policy right so that they’re not prey to fraud and misappropriation, but more that they can build a framework upon which they can build this new structure.

And it was from that my Twitter account exploded and I was dubbed Crypto Dad. It’s something that was unexpected, delightful at the same time, but more importantly, I think it showed that I stumbled onto something. We have a generation that came of age in a financial crisis when all of the traditional institutions that were supposed to provide stability and certainty seem to have fumbled, and in some cases failed. I think there is a generational interest here that is not going away, is not worthy of being dismissed, but should be taken seriously. I take it seriously, and I must say that, in the early days of the internet, and I’m old enough to have been around them, the same people dismissing crypto assets now were dismissing the internet as good-for-nothing other than access to pornography. It was dismissed as a fad that would fade. Well in fact you can’t even hail a taxi today without using an internet app. Our whole world has been dramatically changed in many cases for the better by the internet. What I called it, the digitalization of information, well now we’re on the digitalization of assets, the digital tokenization of a value, and it’s as fundamental a change as the early internet was.

I think for the adults in the room the choice is to put down solid policy frameworks upon which this new phase of digitalization can be built or to do nothing and see jurisdictions that put down solid policy foundations become the leaders in innovation. I don’t want to see the U.S. left behind. I want to see the U.S. do what it’s traditionally done in the face of technological revolution. And that is take a leadership role. I think that’s achievable if we put down the right policy prescriptions, and that’s why I’m pleased to join the Chamber of Digital Commerce, because it advocates for solid policy foundations and does a great job of putting the right experts forward and engaging the right communications with policy makers to maximize the opportunities. So if Crypto Dad can answer that effort, then I’m delighted to do so.

Source: Theblockcrypto.com

Argentina Imposes Capital Controls as Reserves Drain Away 38718

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Argentina’s government imposed capital controls to halt a slump in foreign currency reserves and the peso that has pushed the country to the brink of default. The central bank set a limit of 5 days for exporters to repatriate foreign currency, while institutions will need authorization of the bank to buy dollars in the foreign exchange market, except in the case of foreign trade, according to a statement from the bank. Individual Argentines will be limited to dollar purchases of no more than $10,000 a month.

The announcement comes as Argentina’s currency crisis spirals out of control. About $3 billion drained out of foreign currency reserves on Thursday and Friday alone as the government struggled to repay short-term debt and slow the drop in the peso. The country risks exhausting its net reserves, which stand at under $15 billion, within weeks if it keeps losing money at this pace.

The peso collapsed more than 25% last month after primary election results showed the market-friendly government has little chance of retaining power in October’s polls. Interest rates soared as the central bank tried to roll over debt, culminating Wednesday in a decision to delay payments on $7 billion of bills coming due this year.

The opposition had called for currency controls, saying the government was in “virtual default.” Central bank reserves have slumped to $54.1 billion from $66.4 billion the day before primary.

The re-imposition of currency controls will be an embarrassment for President Mauricio Macri, who came to office over three years ago pledging to free up the economy after years of state intervention. While money originally flooded in the country, the expanding fiscal and current account deficits eventually unnerved investors, prompting the peso to lead emerging-market currencies declines last year.

Now, faced with an electoral defeat in October, Macri has given up trying to restore investor confidence and has instead resorted to the policies he had criticized his predecessors for imposing.

As well as pushing back maturities on local short-term debt on Aug. 28, Argentina also said it will ask holders of $50 billion of longer-term debt to accept a “voluntary reprofiling.” It also plans to renegotiate payments on $44 billion it has borrowed from the International Monetary Fund.

The IMF will “continue to stand with Argentina during these challenging times,” according to a statement by a Fund spokesman Sunday. The “capital flow management” measures aim at “protecting exchange rate stability and the savers.”

Fitch Ratings now classifies Argentine debt as RD (restricted default); Standard and Poor’s as CCC-; and Moody’s as Caa2. Credit default swaps are pricing in more than a 90% chance of a fully-fledged default within five years.