The US Senate Debates 2020 Budget and Global Regulations:
In the meantime, across the ocean, in the United States, the Senate held a detailed analysis of the upcoming 2021 budget volume and at this event, the US Treasury Secretary Steven Mnuchin was asked by senior members in what manner will the United States Treasury increase the budget for the monitoring of suspicious cryptocurrency transactions as well as prosecuting terrorists and other criminal organizations that are financing illegal activities with cryptocurrency.
The Treasury Secretary quickly replied that they are close to rolling out several new requirements that are important to take place within the Financial Crimes Enforcement Network – FinCEN. He continued his statement by saying that they want to make sure that the technology development moves forward and what they want is to be sure of fact that cryptocurrencies are not used in the same practice as the Swiss secret bank accounts are.
Binance Futures has recently announced the release of the new BAT/USDT contracts that bare a leverage of 50X, these agreements will become active beginning with the 13th of February 2020 at 08:00 AM UTC.
OKEx the digital assets platform has recently launched the options trading feature for the BTC/USD pair which consists of a volume of $170 million within a uniform span of one month.
This monetary movement has placed the OKEx in second place after Derebit which, for the time being, is the largest BTC options platform.
Today the BTC/USD pair is currently trading in the vicinity of $10,200 and it went downwards by a neutralizing value of -1.40% at the same time analysts believe that the price needs to hold especially during the small pullback of $10,000 or it might risk a reverse movement on the chart.
The ETH/USD pair is trading next to $268 consequently going up by a confident value of +1.80% and the price faced some cooling in the session as it let out some steam, nonetheless, it will continue moving north.
A big astonishment today came from the XRP/USD pair which is now trading close to $0.3287 and it went skyward by a big value of +9.20%, XRP smashed with no effort the $0.3000 psychological mark.
As for the 100 most significant cryptocurrencies, the best of the day are HBAR trading in close to $0.069314 and going upwards by +64.53%, followed close up by CHZ which is trading in the proximity of $0.018062 and went upwards by +54.41%, continuing with THETA which is trading next to $0.157147 and it went upwards by a value of +21.73%. On the other side of the analysis chart the worst movements registered are as follows: NEM is trading next to $0.067643 going downwards by a value of -9.39%, MANA is trading close to $0.059672 and it is going downwards by a negative value of -8.31%, QNT is now trading low next to $4.61 and it went downwards by a value of -8.21%.
Industry Development and Crypto Security Features
Global news feature MouseBelt, the blockchain accelerator that has recently announced the incorporation of 11 new founding members into its Blockchain Education Alliance – BEC.
Mastercard, Ripple, Binance as well as senior representatives from Neo, KuCoin have banded together into scaling Matic Network. They will be joining the already existing 13 companies.
Notable security news headlines highlight Dexive as an innovative non-custodial and decentralized exchange that is impervious to any type of hacks. Dexive encapsulates a safety characteristic that halts malicious operators from hacking each peer individually.
One benefit is that it has no custody whatsoever of its users’ funds and all transactions are conducted on a peer-to-peer basis, this way the capital is retained by the user, not the exchange.
According to Japanese newspaper Nikkei, a new alliance is being formed in Japan and it includes mostly policymakers and they are led by Chairman Akira Amari, a senior member in the Japanese Liberal Democratic Party – LDP. The first act on order and debate is a proposal to urgent the Japanese government to begin arrangements for a new digital currency.
The legislators are already handling the legal framework of the new currency and the final proposal will be sent over to Prime Minister Shinzo Abe.