Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech

Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech

Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech

A new bill filed on Thursday, H.R.9067, seeks to create an office that will “coordinate” federal applications of blockchain technology. 

Sponsored by Rep. Darren Soto, a Democrat representing Florida’s 9th district, the bill would “establish an office within the Department of Commerce to coordinate all non-defense related deployment and activities related to blockchain technology within the Federal Government.”

As of Dec. 31, the bill was referred to the House Committee on Energy and Commerce.

While the text of the bill has yet to be released, the bill’s sponsor might give some indication of the kinds of blockchain technology applications such an office would seek to “coordinate.”

Soto has proven in recent months to be an increasingly vocal proponent for both cryptocurrencies — which he accepts for campaign donations — and for blockchain technology in general.

Following news that the United States Postal Service had filed a patent for a blockchain-based mail-in voting system, the co-chairman of the Blockchain Caucus told Cointelegraph in an interview that he hoped it would be put to use in the near future.

“Certainly I could see it being utilized very soon, over the next couple of election cycles,” he said.

Additionally, in September Soto announced the culmination of “nearly two years of pushing” his colleagues in the Committee on Energy and Commerce: the Digital Taxonomy Act, which will lead to a study on the use of blockchain technology in government. Creating an office as described by H.R.9067 would presumably lead to faster adoption and implementation of such technologies.

Soto’s cryptocurrency advocacy has been especially strong as of late. The Florida native was also among the nine congresspeople who chastised the Treasury for allowing just over two weeks for comments on a new crypto monitoring rule. The rule has led to a call-to-arms across the cryptocurrency community, and some have speculated that the Treasury may face a lawsuit for violating procedure.

Title: Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech
Sourced From: cointelegraph.com/news/bill-seeks-to-create-office-to-coordinate-federal-use-of-blockchain-tech
Published Date: Sun, 03 Jan 2021 00:00:36 +0000

Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech

Rep. Soto seeks to create office to ‘coordinate’ Federal use of blockchain tech was originally published here https://newsgrowing.wordpress.com/2021/01/03/rep-soto-seeks-to-create-office-to-coordinate-federal-use-of-blockchain-tech/

XRP enthusiasts seek to force White House’s hand on SEC suit

XRP enthusiasts seek to force White House’s hand on SEC suit

XRP enthusiasts seek to force White House’s hand on SEC suit

As token prices plunge and Ripple prepares for court, a band of XRP enthusiasts have rallied around a petition that may force a White House statement on the recent SEC lawsuit alleging Ripple conducted an unregistered securities offering. 

A petition filed on the White House-run We the People website titled “We the People ask the federal government to deem XRP, the virtual currency, a currency,” has now crossed 10,000 signatures.

Created by the Obama administration in 2011, We the People allows users to create petitions that, upon reaching 100,000 signatures within 30 days, will prompt an official White House response. While many of the petitions are serious, the platform has been home to more than one lark: one of the most famous petitions called for the construction of a Death Star.

The XRP petition, created by “J.W.”, calls for the SEC to “cease” its “frivolous” lawsuit, referencing a previous FinCEN determination that XRP is a currency. The petition also references XRP’s rapidly-deteriorating marketcap — a drawdown that TheTIE’s Joshua Frank has called the “third largest collapse of all-time” — as well as the “hundreds of thousands of ordinary Americans” who are “suffering irreparable harm and damages.”

XRP’s market cap has fallen by 93% from $137B to under $10B. That makes the value of the XRP collapse bigger than Enron and Worldcom.

While not a bankruptcy, XRP is effectively the third largest collapse of all time behind Lehman Brothers and Washington Mutual.

— Joshua Frank (@Joshua_Frank_) December 30, 2020

The petition effort comes as Ripple prepares for a February pretrial conference, the first of what may prove to be a long and contentious legal process. Following the SEC’s filing a suit on December 22nd, the number of major exchanges who have delisted XRP continues to grow, and Ripple has released a statement encouraging investors and the press to wait to hear the company’s side of the story before coming to any conclusions. 

As the legal process moves forward, petition signers find themselves with few options. Said one redditor:

“I feel like you could get a million signatures and it wouldn’t do a damn thing. That being said, I signed it.”Title: XRP enthusiasts seek to force White House’s hand on SEC suit
Sourced From: cointelegraph.com/news/xrp-enthusiasts-seek-to-force-white-house-s-hand-on-sec-suit
Published Date: Sat, 02 Jan 2021 16:05:30 +0000

XRP enthusiasts seek to force White House’s hand on SEC suit

XRP enthusiasts seek to force White House’s hand on SEC suit was originally published here https://newsgrowing.wordpress.com/2021/01/03/xrp-enthusiasts-seek-to-force-white-houses-hand-on-sec-suit/

BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC

BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC

BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC

Bitcoin (BTC/USD) extended recent gains early in today’s North American session as the pair appreciated to the 29688.88 area after trading as low as the 28751.82 area during the Asian session, with the intraday high representing a fresh lifetime high.  Traders are curious to see if the pair will challenge the psychologically-important 30000 figureStops were recently elected above the 29119.99 area, an upside price objective related to buying pressure that emerged around the 3858 area earlier this year.  Stops were previously triggered above the 27079.7827388.2827769.99, and 28387 levels during the pair’s ascent.  Some bullish clues emerged after BTC/USD was supported above the 25667.32 area during recent pullbacks, a previous upside price objective related to buying pressure that emerged earlier this year around the 3858 area.  Additional upside price objectives include the 30456.39 and 31424.78 areas. 

Following the pair’s recent moves to successive all-time highsdownside retracement levels and areas of potential technical support include the 28764.8328192.8427853.9727730.72, and 27268.59 areas. BTC/USDtraded up more than 44% in January, and closed 2020 with a gain of approximately 292%.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 26713.37 and the 50-bar MA (Hourly) at 28923.04.

Technical Support is expected around 25914.25/ 25510.87/ 24386.59 with Stops expected below.

Technical Resistance is expected around 29688.88/ 30456.39/ 31424.78 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.                                                                                                                                                   

Title: BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC
Sourced From: cryptodaily.co.uk/2021/01/btc-to-test-30000-in-new-year-sally-ho-technical-analysis-1-january-2021-bitcoin-btc
Published Date: Fri, 01 Jan 2021 18:23:23 +0000

BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC

BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC was originally published here https://newsgrowing.wordpress.com/2021/01/02/btc-usd-to-test-30000-in-new-year-sally-hos-technical-analysis-1-january-2021-btc/

$28 Million Maryland Ponzi Scam Offered Crypto Payout

$28 Million Maryland Ponzi Scam Offered Crypto Payout

$28 Million Maryland Ponzi Scam Offered Crypto Payout

Title: $28 Million Maryland Ponzi Scam Offered Crypto Payout
Sourced From: cryptopanic.com/news/10988710/28-Million-Maryland-Ponzi-Scam-Offered-Crypto-Payout
Published Date: Fri, 01 Jan 2021 18:23:58 +0000

$28 Million Maryland Ponzi Scam Offered Crypto Payout

$28 Million Maryland Ponzi Scam Offered Crypto Payout was originally published here https://newsgrowing.wordpress.com/2021/01/02/28-million-maryland-ponzi-scam-offered-crypto-payout/

ETH/USD Extends Sideways Trading Activity: Sally Ho’s Technical Analysis 1 January 2021 ETH

ETH/USD Extends Sideways Trading Activity: Sally Ho’s Technical Analysis 1 January 2021 ETH

ETH/USD Extends Sideways Trading Activity: Sally Ho’s Technical Analysis 1 January 2021 ETH

Ethereum (ETH/USD) gained marginal ground early in today’s North American session as the pair moved higher to the 745.59 area after trading as low as the 726.71 area during the European session, with the intraday low above the 723.50 area that represents the 50% retracement of the appreciating range from 688 to 759.  The next downside retracement levels in this depreciating range include 715.12 and 704.76.  Chartists are observing that the 50-hour and 100-hour simple moving averages continue to converge, evidencing some recent sideways trading activity.   Upside price objectives include the 770.03787.22, and 828.97 areas.  Additional technical support has also recently emerged around the 717.00 area, right around the 50% retracement of the recent depreciating range from 747.00 to 688.00. 

Significant Stops were recently elected above the 615.19637.79668.87679.78, and 698.88 area during the march to successive multi-year highs. Additional upside price objectives include the 819.23879.23910.42939.22, and 985.15 areas.  Following the pair’s recent moves to successive all-time highsdownside retracement levels and areas of potential technical support include the 702.42683.66667.31653.74628.40, and 601.94 levelsETH/USD gained approximately 21% month-to-date in December, and closed 2020 with approximately a 450% gain.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 687.85 and the 50-bar MA (Hourly) at 740.94.

Technical Support is expected around 699.32/ 612.33/ 530.32 with Stops expected below.

Technical Resistance is expected around 759.00/ 819.23/ 877.71 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

Title: ETH/USD Extends Sideways Trading Activity: Sally Ho’s Technical Analysis 1 January 2021 ETH
Sourced From: cryptodaily.co.uk/2021/01/eth-usd-extends-sideways-trading-activity-sally-ho-technical-analysis-1-january-2021-eth-ethereum
Published Date: Fri, 01 Jan 2021 18:23:12 +0000

ETH/USD Extends Sideways Trading Activity: Sally Ho’s Technical Analysis 1 January 2021 ETH

ETH/USD Extends Sideways Trading Activity: Sally Ho’s Technical Analysis 1 January 2021 ETH was originally published here https://newsgrowing.wordpress.com/2021/01/02/eth-usd-extends-sideways-trading-activity-sally-hos-technical-analysis-1-january-2021-eth/

Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

Nine congresspeople have signed on to a letter to Treasury Secretary Steven Mnuchin, telling him to hold his horses. 

The Thursday letter is in response to the Treasury’s recent proposal to make registered crypto businesses hold on to more customer information, especially when transacting with self-hosted wallets.

The proposal has been met with widespread outrage from the crypto community. Among grievances, many cite the fact that Mnuchin is pushing this rule out just weeks before the administration of Joe Biden comes into power, and with it his likely replacement, Janet Yellen. 

Accompanying new proposals for rules are invitations for public comment. This remains true in this case, but while the usual comment period is 60 days, the Treasury has here asked for just 15. The comment period expires on Monday, which is the point that the signatories to yesterday’s letter are fighting against: 

“The proposal in question was made public just before the Christmas holiday, and it announced that the public would be afforded 15 days to file comments. A comment period consisting of eight business days over two holidays is not appropriate for regulating any industry, and could result in in stakeholders being unable to meaningfully respond.”

The congresspeople who signed the letter include many of the usual suspects in crypto legislation. Blockchain Caucus members Warren Davidson, Tom Emmer, David Schweikert, Darren Soto and Ted Budd all signed, as did AI caucus leader Bill Foster. However, some figures less involved in the crypto industry have joined, including Tulsi Gabbard, Sen. Tom Cotton and incoming chair of the New Democrat Coalition, Suzan DelBene. 

Given that the formal period for open comments closes on Monday and today is, as you may have noticed, New Year’s Day, it’s unlikely that the Treasury is going to back down. There is, however, talk of a lawsuit against the department on the basis of a violation of procedure, should this rule come into effect. 

Title: Congresspeople chastise the Treasury for rushing new crypto monitoring proposal
Sourced From: cointelegraph.com/news/congresspeople-chastise-the-treasury-fro-rushing-new-crypto-monitoring-proposal
Published Date: Fri, 01 Jan 2021 15:05:24 +0000

Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

Congresspeople chastise the Treasury for rushing new crypto monitoring proposal was originally published here https://newsgrowing.wordpress.com/2021/01/02/congresspeople-chastise-the-treasury-for-rushing-new-crypto-monitoring-proposal/

FinCEN is now interested in offshore crypto holdings, proposes new regulation

FinCEN is now interested in offshore crypto holdings, proposes new regulation

FinCEN is now interested in offshore crypto holdings, proposes new regulation

The United States Financial Crimes Enforcement Network, or FinCEN, issued a brief note on Dec. 31, announcing its intention to propose a change in the Bank Secrecy Act, regarding reporting of foreign financial accounts holding digital currency. Currently, digital assets are not covered by the Foreign Bank and Financial Accounts, or FBAR, regulations.

However, the notice indicates that FinCEN wishes to amend these regulations. This would require U.S. citizens to report cryptocurrency accounts held with foreign institutions, if they are more than $10,000 in value.

There is no indication of when this proposal to amend the regulations may be published, simply that there is an intention to propose it.

The note comes just three weeks before an expected change in leadership at the U.S. Treasury Department, as the Trump administration gives way to incoming President Joe Biden’s team.

This follows another proposal by the Treasury Department earlier in December, to monitor cryptocurrencies being transferred from U.S. exchanges to self hosted wallets.

Many in the crypto community have urged users to file comments against this proposal, which is seen by some as a parting shot against cryptocurrencies by current Treasury secretary, Steven Mnuchin.

Title: FinCEN is now interested in offshore crypto holdings, proposes new regulation
Sourced From: cointelegraph.com/news/fincen-is-now-interested-in-offshore-crypto-holdings-proposes-new-regulation
Published Date: Fri, 01 Jan 2021 10:17:00 +0000

FinCEN is now interested in offshore crypto holdings, proposes new regulation

FinCEN is now interested in offshore crypto holdings, proposes new regulation was originally published here https://newsgrowing.wordpress.com/2021/01/01/fincen-is-now-interested-in-offshore-crypto-holdings-proposes-new-regulation/