📰 News Alex Morris

US Lawmakers Urge SEC to Take Definitive Stance on Crypto

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A dozen House members are joining bipartisan effort in order to stop crypto startups from fleeing the US due to regulatory uncertainty
US Lawmakers Urge SEC to Take Definitive Stance on Crypto
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Just days after the forum held by US Rep. Warren Davidson with over 50 industry influencers, Congress is now asking the Securities and Exchange Commission (SEC) to clarify where it stands on cryptocurrencies. On Sept. 28, a dozen House members sent a letter to SEC Chairman Jay Clayton, urging his agency to outline their plan on regulating the new asset class.

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Clearing up the regulatory uncertainty

The letter states that it is important to determine which virtual currencies are securities. During the aforementioned meeting, one of the speakers also raised this issue. For instance, Ripple is currently fighting tooth and nail in order to prove XRP’s non-security status after being hit with numerous lawsuits for allegedly violating US security law. The SEC did clarify that Bitcoin (BTC) and Ethereum (ETH) are commodities, but the lion's share of ICOs are regulated as securities.

This initiative might be an icebreaker when it comes to changing US security laws that are currently in place. Back in June, Clayton weighted in on this issue, claiming that the SEC is not going to change the traditional definition of a security. Under a 1946 U.S. Supreme Court ruling (SEC v. W. J. Howey Co.), an instrument is considered a security if it involves an investment of money. In order to be defined as a security, the asset has to pass the so-called “Howey Test.”

Keeping crypto innovations at home

Similarly to TechCrunch founder Michael Arrington, US lawmakers seemingly acknowledge the fact that lack of regulatory clarity may put a damper on US dominance in the rapidly growing industry as many crypto-oriented startups are fleeing to other countries. The letter clearly states the current regulatory uncertainty is “hindering” innovations in the US.

The letter also emphasizes that there should be a hands-off approach to dealing with digital assets, which would help to create a welcoming environment for crypto-oriented businesses.

Earlier, U.Today also reported about US Rep. Tom Emmer introducing three bills that are aimed at propelling the cryptocurrency industry.

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Everyone Is Hyped for Samsung Galaxy S10’s New Crypto Wallet That Will Support Bitcoin (BTC) and Ethereum (ETH)

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There is a lot of excitement in the air since Samsung Galaxy S10’s native crypto wallet will be a boon for cryptocurrency adoption
Everyone Is Hyped for Samsung Galaxy S10’s New Crypto Wallet That Will Support Bitcoin (BTC) and Ethereum (ETH)
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Feb. 20 is the day when the world is finally going to witness Samsung’s new flagship smartphone, the Galaxy S10. As revealed earlier, the much-anticipated smartphone will feature an in-built cryptocurrency wallet for major currencies.

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The least secretive release

If there was a Guinness World Record for the world’s most leaked smartphone, the Galaxy S10 would probably get one. The new phone started leaking more than six months (!) before its official release. The leaks went on even on the cusp of the Galaxy UNPACKED event that is going to take place on Feb. 20. A Norwegian TV station accidentally revealed the official TV commercial on Dec. 19. Now that’s embarrassing!

Crypto hype isn’t fizzling out

U.Today reminds its readers that the photos of Blockchain Keystore, the Galaxy S10’s native crypto wallet, leaked on Jan. 27. The wallet will support such major currencies such as Bitcoin (BTC) and Ethereum (ETH).    

Prior to that, HTC, another smartphone giant, rolled out the first Blockchain smartphone, called Exodus.

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Bitcoin (BTC) Is Far Better Choice Than Cash, Tesla CEO Elon Musk Claims

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The number one cryptocurrency got a lot of praise from Elon Musk, but it doesn’t mean that Tesla is going crypto
Bitcoin (BTC) Is Far Better Choice Than Cash, Tesla CEO Elon Musk Claims
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During a podcast interview with ARK Invest, Elon Musk, the CEO of Tesla and SpaceX, finally confirmed that he’s a huge Bitcoin proponent. He states that crypto is ‘a far better choice’ than paper money, and the latter will eventually go away.

No use for Tesla

While Musk thinks that Bitcoin’s structure is ‘brilliant’, he also called the number coin ‘energy intensive.’ Hence, Bitcoin, which uses the power-hungry proof-of-work (PoW) consensus algorithm, wouldn’t be a good choice for Tesla that focuses on renewable energy.

It’s worth noting that Bitcoin mining is very popular in countries that rely on green energy. Case in point: Iceland. Here, cryptocurrency miners consume more power than all households combined.

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A Bitcoin fan is born

This is the first time when Musk publicly voices his support for Bitcoin. In October 2018, the 54th-richest person in the world dazzled the crypto community with his anime-inspired Bitcoin tweet. In spite of numerous theories, he finally confirmed that it was just a joke.
 

Ethereum, the second largest cryptocurrency, appeared on Musk’s Twitter feed even earlier. In August 2018, he said that he mentioned the coin after his account was swarmed with Ether bots.
 

 

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Bitcoin, XRP Show Significant Gains as Crypto Market Adds $12 Bln in Just Two Days

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In less than two days, the crypto market has added $12 bln, pushing Bitcoin, XRP and other major crypto coins up and letting bulls overtake bears
Bitcoin, XRP Show Significant Gains as Crypto Market Adds $12 Bln in Just Two Days
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On Sunday, the Bitcoin rate jumped from $3,600 and has been rising to the current price of $3,967 on Coinmarketcap. Some other sources are even showing $3,900, such as the Bitstamp exchange, located in Luxembourg.

Ripple, Ethereum

Among coins in the top-ten category, high gains are shown by XRP and Ethereum. Ripple has risen by around 10 percent.

Bitcoin, XRP Show Significant Gains as Crypto Market Adds $12 Bln in Just Two Days

Ethereum started appreciating back on Sunday, when the crypto community again began betting on Ethereum’s Constantinople hard fork, which so far has been delayed and according to the new plan is about to occur on Feb 27. Based on this upgrade, later this year Ethereum will change its current proof-of-work algorithm to proof-of-stake.

Presently, XRP is trading at $0.3418, having risen 8.78 percent. Ethereum stands at $148.92.

Expert’s comment

An eToro top manager, Mati Greenspan, has commented on the current situation in the market, saying that the community is questioning whether the momentum will continue, letting Bitcoin, XRP, Ethereum and other altcoins keep ascending.

As per him, the market has added $8 bln over the last day. Its current volume totals more than $36 bln – this is a high that was last noticed in spring last year. However, he added, Bitcoin must take the $5,000 – until it happens, a bearish U-turn can happen at any moment.

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Wall Street gurus keep their faith

Despite the overall bearish dominance, last week several big-names from the crypto financial world predicted that Bitcoin along with the rest of the crypto company will regain the highs they reached in December 2017.

Among them are the crypto investor and billionaire Tim Draper, CEO of Grayscale Barry Silbert, and long-term BTC supporter Mike Novogratz, the founder of the Galaxy Digital crypto investment fund.

Tim Draper even expressed the thought that the recently announced launch of JP Morgan’s digital JPM Coin will provoke a further interest in Bitcoin and the crypto market in general.

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Tron Hosts Over 200 DApps, Justin Sun Says 9th ERC20 Coinburn Has Taken Place

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More dApps are appearing on the Tron blockchain, some of them with a user base of over 50,000 people
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Unlike blockchains of the first generation, Tron is not focused on its native coin only. Just like Ethereum or EOS, Tron allows developers to build decentralized apps and their own platforms on it, hoping to get the whole Internet decentralized in the end.

Tron’s success with dApps

So far, Tron has been making progress in hosting dApps. Now reps of the platform report that there are more than 200 decentralized apps in the blockchain already.

Tron has been making fast progress in this area. Slightly over 20 dApps running on it have around 65,000 new daily users. Its rivals, EOS and Ethereum, which also produce dApps, do not have such popular applications running on them.

Dappradar.com

This website provides data on dApps that run on the major global DLT platforms. Dappradar says that among the most popular dApps in the world, three are Tron-based – PLAY GOC, Crazy Dogs Live and Epic Dragons. The first two are gambling ones, the last one is a game.

Dapp Rankings

These three dApps are part of the top ten category. The other seven are EOS-powered. Tron has managed to reach this level of popularity in a short period of time – the platform was founded less than two years ago, and by the summer of 2018 it got off of Ethereum and onto its own mainnet. Thus, the success with dApps has been achieved in less than one year.

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Tron burns its old tokens

A short while ago, Justin Sun tweeted that one more stash of old ERC20 coins has been burned. When launching its own mainnet in the summer last year, Tron announced a token swap where old Ethereum-based ERC20 Tron coins were exchanged for new TRX tokens based on the newly launched independent blockchain.

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EOS Soars Nearly 24 Percent Overnight, Bitcoin Almost Reaches $4,000 in the Green Market

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The cryptocurrency market is enjoying a ‘green’ day on Tuesday, EOS spikes overnight with Bitcoin Cash following it, being the second top gainer
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On Tuesday, Feb 19, the market is pleasing investors with positive news – nearly all top-100 coins are heading North, and all the top ten and top twenty coins are in the green area.

Bitcoin and the top gainers

This morning, Bitcoin has shown a rise by 5.01 percent, now standing at $4,937. Over the past few days, its trading volume has appreciated by around $4 bln, as has its market cap.

The highest gains are being shown by EOS (the Enterprise Operating System), which has appreciated almost 24 percent over the last day. The coin’s price now stands at $3.61.

It is followed by Bitcoin Cash with a rise by nearly 14 percent and the current price of $148.43.

The next big gainer is out of the top-ten list – Cardano. Over the last few days, ADA has managed to overtake Bitcoin SV and claim spot #11.

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EOS does not have a frontman – is it good or bad?

Many top-ten crypto assets do have a famous figure leading them into the future and mass adoption. When thinking of Ethereum, Vitalik Buterin springs to mind; when talking about Bitcoin, there is at least Satoshi Nakamoto; Bitcoin Cash is mostly associated with Roger Ver; and for Bitcoin Cash SV, you have Craig Wright, who also claims to be Satoshi Nakamoto.

In this respect, EOS seems to have a wide field of freedom for their PR team initiative. Still, each of the abovementioned crypto figures has its own haters or people who dislike them.

Some think that Vitalik Buterin is weird-looking and lacks charisma. Roger Ver is believed to be hysterical to some. When one talks about Mr Craig Wright, for every fan there is at least a dozen people who laugh at his Satoshi claims.

Speaking of Craig Wright

Speaking of negative reaction towards the Bitcoin Cash SV public leader, on Monday, U.Today reported that Mr Wright has assured the US CFTC that he is the one, undisguised Satoshi Nakamoto and even went as far as suggesting swearing an oath to prove that.

Still, the absence of a public figure at the head of EOS may be even a good thing under these circumstances.

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