1. Digital Currency Support from White House

President Donald J. Trump has announced that he will be naming Mick Mulvaney as the new acting White House Chief of Staff. Mulvaney is a well-known Bitcoin proponent and has previously expressed his support of digital currency blockchain technology. 

Link: https://bitcoinist.com/trump-bitcoin-mulvaney-chief-staff/

2. Blockchain is a “Systemic Risk”

The Depository Trust & Clearing Corporation (DTCC) issues a report every year on the stability of the global financial system, ever since 2013. This year’s report might seem to fans of Bitcoin and the blockchain like it should have come out back in 2013. That’s when Mt. Gox and associated events had shaken the very foundations of cryptocurrency as revelations surrounding its demise came to light and the price dropped from $1,000, gradually bottoming a couple of years later.

Link: https://www.ccn.com/blockchain-is-a-systemic-risk-for-financial-industry-dtcc-exec/

3. Swiss to improve Legal and Regulatory Frameworks

Switzerland is displaying its pro-blockchain prowess once again as the Swiss Federal Council reveals intentions to “further improve framework condition for blockchain” The press release of 14 December published by the State Secretariat for International Finance (SIF) reflects on a meeting held on 7 December 2018. It revealed and adopted a regulatory report titled “Legal framework for distributed ledger technology and blockchain in Switzerland – An overview with a focus on the financial sector.”

Link: https://bitcoinnews.com/swiss-federal-council-seeks-to-improve-legal-and-regulatory-frameworks-for-blockchain/

4. SEC thinks rules are needed for ICOs

In a speech published last week that focused on reviewing the SEC’s progress in 2018 and also discussing the agenda for the coming year, Jay Clayton the chairman of the SEC addressed some of the advantages of raising capital using ICOs. He claimed that the new form of crowdfunding is an effective way for entrepreneurs to raise capital. However, where appropriate, security rules will have to be adhered to.

Link: https://usethebitcoin.com/sec-icos-are-effective-for-raising-funds-but-rules-are-needed/

5. What crypto will survive the Bear Market

Digital cryptocurrency Bitcoin Cash (BCH) has fallen below Litecoin (LTC) for the first time since it was created as an endless sell-off continues amid slowing economic data in China, falling stocks and a brutal year long crypto bear market.

“Crazy” Fed keeps on strengthening the dollar which is now close to passing 100 on its index. Tether thus is now a top four crypto.

Link: https://www.trustnodes.com/2018/12/15/which-crypto-will-survive-the-bear-market

6. Dutch Central Bank to Curb Malicious Use of Crypto

In order to curb the use of cryptocurrencies for malicious activities such as money laundering and the funding of terrorism, the central bank of Netherlands, De Nederlandsche Bank (DNB), has decided that it would be issuing licenses to cryptocurrency service providers.

Link: https://cryptoslate.com/dutch-central-bank-to-bring-crypto-business-under-licensing-regime-to-curb-malicious-use/

7. Canadian Police Warns about Bitcoin Scams

Canadian police have warned the public about getting caught up in Bitcoin scams.  People should exercise some caution when investing their money in digital currency. Some of the most famous names in the world such as Floyd Mayweather and DJ Khaled are already getting caught up in the affray. However, it is the online crypto-hackers users have to watch. 

Link: https://www.ccn.com/canadian-police-warn-public-about-emerging-bitcoin-scams/

8. Teenage Thoughts about Bitcoin

Erik Finman, a teenager and early bitcoin ( BTC ) adopter who became a millionaire when the flagship cryptocurrency’s price reached nearly $20,000 late last year, recently warned investors about the potential risks of investing in a digital currency such as Bitcoin (BTC) or Ethereum (Eth).

Link: https://www.cryptoglobe.com/latest/2018/12/bitcoin-is-dead-due-to-too-much-infighting-says-teenage-btc-millionaire/

9. Nearly 32 Million BCH Moved

An astounding 32 million bitcoin cash (BCH), worth approximately $2,3 billion, have been moved in the last 24 hours. This equates to more than the total supply of bitcoin cash (128%). When it comes to transfered value, BCH’s network saw over 25 times more value move than that of ETH, but fell shy of the BTC network’s $3.1 billion.

Link: https://www.cryptoglobe.com/latest/2018/12/31-million-bitcoin-cash-moved-in-the-last-24-hours/

10. Bitcoin Tax Confusion amongst Accountants

Every time you convert Bitcoin to anything, be it goods or services, other cryptocurrencies, or even tax payments, it might be a taxable event, depending on your local regulations. It’s not something a lot of digital currency users think about when carrying out their daily lives, but potential penalties can be steep for tax evasion.

Link: https://www.ccn.com/bitcoin-tax-confusion-has-accountants-turning-to-specialized-software/

Tweet of the day: