UK financial watchdog and ECB president call for more stringent rules. Regulators are sharpening their focus on bitcoin and its use in the international financial system after the value of the digital currency raced higher in a volatile rally that fed concerns over its lack of robust oversight by financial watchdogs.
Numerous exchanges, like Bittrex, have delisted coins that have features to protect user privacy. Explanations of why they’ve done so have been vague or non-existent. It has set up clashes between the exchanges and Zcash, Monero and Dash over whether there is actually regulatory pressure to do so.
Monero leads privacy-oriented coins in year-on-year growth, up 249% in 2020. A symmetrical triangle pattern hints at a possible upswing to $200 following the ongoing consolidation. Monero, a $2.7 billion cryptocurrency performed incredibly well in 2020, leaving other privacy-oriented coins in the dust. According to Messari, a cryptocurrency analysis platform, XMR is up 249% year-on-year and is trading at $155.
The European Data Protection Board wants to ensure that the anti-money laundering measures are compatible with the rights to privacy and data protection as enshrined in Articles 7 and 8 of the Charter of the Fundamental Rights of the European Union.
The price of Bitcoin (BTC-USD) has surged to a new record pushing to above $33,000 (£24,135) for the first time in history on Sunday, after it crossed the $30,000 mark on Saturday. At it’s highest Bitcoin soared by 18% on Sunday morning, reaching a new all-time high above $34,000, before trickling back down.
Bittrex announced Friday it will be delisting monero (XMR), zcash (ZEC) and dash (DASH), continuing a trend of so-called privacy coins being delisted by cryptocurrency exchanges.
Despite the crypto industry experiencing a major rise in mainstream interest in 2020, the year also saw many prominent crypto personnel apprehended by regulators. Over the past year, many prominent and colorful crypto personalities have been apprehended and arrested. From the jailing of antivirus pioneer John McAfee to the laying of charges against executives from one of the world’s largest exchanges, 2020 didn’t exactly shake off crypto’s reputation as a honeypot for criminals.