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Representatives Introduce Anti-Terrorism Financing Bill to US Congress

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In a bid to combat the use of digital currencies as means of financing terrorism, a group of representatives from the Republican and Democratic Parties has introduced a bipartisan bill to the House on Jan 13, which seeks to create a task force focused on preventing the usage of cryptocurrencies in sponsoring terrorism. 

Bill Against Crypto-Powered Terrorism

U.S Representative Ted Budd, the Republican member representing North Carolina’s 13th District, has sponsored new legislation in order to facilitate the creation of a new agency saddled with the responsibility of combating the use of cryptocurrencies in terrorist financing. 

Following the introduction, the bill was referred to the Committee on Financial Services and the Committee on the Budget for further deliberations. Rep. Budd is a known advocate of crypto and blockchain in Congress.

Aside from creating the task force, the bill also seeks to:

“Provide rewards for information leading to convictions related to terrorist use of digital currencies, to establish a Fintech Leadership in Innovation and Financial Intelligence Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies, and for other purposes.”

Speaking of terrorism, some participants in the recent riot at the U.S Capitol are rumored to have received large bitcoin donations from a French programmer. U.S. law enforcement agencies are investigating the links between the bitcoin donations and the riot. 

Many other states like the EU have also drafted their own laws to fight terrorist financing fueled by cryptocurrencies.

Cryptocurrency Still Not The Preferred Method

Rep. Rudd is one of the crypto community’s known allies in Congress. In 2019, he had championed the call for more clarity in the U. S crypto tax laws in order to eliminate the gray areas, in addition to introducing a couple of bills to the House, aimed at improving the regulatory standard of the crypto industry. 

However, this new bill may not be in line with the crypto’s spirit of decentralization and censorship-resistance, which many pundits have fervently pushed.

And although Anti-Money Laundering (AML) and combating financial terrorism are some of the reasons why government agencies are rather unreceptive to the usage of cryptocurrencies, forensic data gathered on their usage indicate the limited adoption by terrorist organizations. In May 2020, blockchain intelligence outfit Chainalysis debunked the rumors of ISIS owning about $300 million in Bitcoin.

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Source: https://btcmanager.com/representatives-introduce-anti-terrorism-financing-bill-to-us-congress/

Blockchain

Dogecoin becomes the most popular cryptocurrency

TL;DR Breakdown Doge now more popular than altcoin About Doge crypto Meme cryptocurrency, Dogecoin, now ranks as the most popular digital asset even ahead of Bitcoin, the number one cryptocurrency by market capitalization. According to data from crypto tracker ICO Analytics, Dogecoin became the most popular cryptocurrency after it was mentioned last month on Twitter […]

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TL;DR Breakdown

  • Doge now more popular than altcoin
  • About Doge crypto

Meme cryptocurrency, Dogecoin, now ranks as the most popular digital asset even ahead of Bitcoin, the number one cryptocurrency by market capitalization. According to data from crypto tracker ICO Analytics, Dogecoin became the most popular cryptocurrency after it was mentioned last month on Twitter more than any other cryptocurrency.

ICO Analytics notes that Dogecoin commanded 10.4 percent of all crypto-related mentions on the social media platform in February, with Bitcoin recording 10.1 percent of all crypto-related mentions. Dogecoin was mentioned ten times more than Uniswap—an Ethereum-based decentralized exchange that has 17,000 active users.

About Dogecoin cryptocurrency

Dogecoin came into existence in 2013 as a joke featuring a Shiba Inu dog as a mascot. The coin is now valued at over $6.5 billion, with many celebrities, tech experts, and investors having a stake in the meme coin. One of the coin’s biggest fan is the world’s richest man, Elon Musk, the CEO of electric car makers Tesla. The CEO never stopped tweeting about the crypto, even stating that the coin would go to the moon in one such tweet.

While Musk continued talking about the altcoin on Twitter, the crypto continued to gain popularity on TikTok, another social media sparking a Dogecoin’ Challenge’, which trended for several days. The coins’ popularity has led the altcoin price to surge. The crypto went from less than $0.002 in January 2020 to an all-time high of $0.083 last month a 4050% increase.

However, the crypto has also faced a series of criticism, with one single address holding more than 27 percent of the coins’ total supply. It is believed that the coin price is usually artificially pumped. Elon Musk detests the coin for this reason. The monopoly of investors also has slowed down active development for the coin and is one reason investors are afraid of taking on the coin, according to Elon Musk.

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Source: https://www.cryptopolitan.com/dogecoin-now-most-popular-cryptocurrency/

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Ethereum, UNI, Verge, FTX Token Price Analysis: 03 March

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Ethereum, the world’s largest altcoin, recaptured the $1,600-level and targeted a break above its 200-SMA. The market’s bulls maintained control of the Uniswap market, with the $27.2-resistance likely to be toppled in an extended bullish scenario. Verge flipped the $0.019-resistance at the time of writing, one of the many levels that need to be overturned for a bullish comeback. Finally, FTT presented an upside at over $35 after breaking north of its symmetrical triangle.

Ethereum [ETH]

Source: ETH/USD, TradingView

Successive green candlesticks on Ethereum’s 4-hour chart underlined the bullish sentiment in the market after it regained the $1,600-level at press time. However, what was interesting was that ETH posted gains even as the 200-SMA (green) crossed above the 50-SMA (blue), usually considered a bearish development. Perhaps, the press time gains were more reflective of a positive correlation with Bitcoin since it also moved north, at the time of writing.

The on-chain metrics indicated that ETH was up for additional gains over the next few trading sessions. The RSI rose sharply and eyed the overbought region as bulls sought control of the price. The Awesome Oscillator also noted a pickup in bullish momentum. A rise above the 200-SMA looked certain going forward.

Uniswap [UNI]

Source: UNI/USD, TradingView

The Parabolic SAR’s dotted markers moved under the candlesticks as Uniswap maintained its uptrend after picking up from the $20-mark. A reading of 20 on the ADX Indicator showed some weakness, but the index was pointing north since bullishness was strengthening in the market.

If trading volumes pick up over the coming sessions, the market’s bears could struggle to hold on to the $27.2-resistance mark. Conversely, if UNI moves south, the 50-SMA (yellow) could act as a buffer against a price drop.

Verge [XVG]

Source: XVG/USD, TradingView

A look at Verge’s 4-hour chart showed that the cryptocurrency was still reeling from losses suffered post a broader market correctional phase. In a matter of just 4 days, the cryptocurrency dropped by over 40% and finally cushioned losses at its $0.015-support. However, at the time of writing, the bulls had managed to flip the $0.019-resistance as momentum picked up on the buying side.

The same was pictured by the Awesome Oscillator after green bars rose above the equilibrium mark. On the other hand, the Stochastic RSI peaked in the overbought region and signaled a pullback in price. Nevertheless, an upside of $0.023 can still be projected considering the broader market trend.

FTX Token [FTT]

Source: FTT/USD, TradingView

FTX Token witnessed a breakout from a symmetrical triangle a couple of days ago and was heading towards its upside at over $35. The On Balance Volume made a series of higher highs as buying pressure drove the price towards record levels. However, some selling pressure was also evident over the last few sessions.

The Bollinger Bands showed that volatility was on the up as the bands were diverging at press time. If sellers assume control of the price, there is a chance that FTT could trade below the Signal line moving forward. Such a move would put the bulls at risk of losing out to $28.5-support.


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Source: https://ambcrypto.com/ethereum-uni-verge-ftx-token-price-analysis-03-march

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Blockchain

Ethereum, UNI, Verge, FTX Token Price Analysis: 03 March

Avatar

Published

on

Ethereum, the world’s largest altcoin, recaptured the $1,600-level and targeted a break above its 200-SMA. The market’s bulls maintained control of the Uniswap market, with the $27.2-resistance likely to be toppled in an extended bullish scenario. Verge flipped the $0.019-resistance at the time of writing, one of the many levels that need to be overturned for a bullish comeback. Finally, FTT presented an upside at over $35 after breaking north of its symmetrical triangle.

Ethereum [ETH]

Source: ETH/USD, TradingView

Successive green candlesticks on Ethereum’s 4-hour chart underlined the bullish sentiment in the market after it regained the $1,600-level at press time. However, what was interesting was that ETH posted gains even as the 200-SMA (green) crossed above the 50-SMA (blue), usually considered a bearish development. Perhaps, the press time gains were more reflective of a positive correlation with Bitcoin since it also moved north, at the time of writing.

The on-chain metrics indicated that ETH was up for additional gains over the next few trading sessions. The RSI rose sharply and eyed the overbought region as bulls sought control of the price. The Awesome Oscillator also noted a pickup in bullish momentum. A rise above the 200-SMA looked certain going forward.

Uniswap [UNI]

Source: UNI/USD, TradingView

The Parabolic SAR’s dotted markers moved under the candlesticks as Uniswap maintained its uptrend after picking up from the $20-mark. A reading of 20 on the ADX Indicator showed some weakness, but the index was pointing north since bullishness was strengthening in the market.

If trading volumes pick up over the coming sessions, the market’s bears could struggle to hold on to the $27.2-resistance mark. Conversely, if UNI moves south, the 50-SMA (yellow) could act as a buffer against a price drop.

Verge [XVG]

Source: XVG/USD, TradingView

A look at Verge’s 4-hour chart showed that the cryptocurrency was still reeling from losses suffered post a broader market correctional phase. In a matter of just 4 days, the cryptocurrency dropped by over 40% and finally cushioned losses at its $0.015-support. However, at the time of writing, the bulls had managed to flip the $0.019-resistance as momentum picked up on the buying side.

The same was pictured by the Awesome Oscillator after green bars rose above the equilibrium mark. On the other hand, the Stochastic RSI peaked in the overbought region and signaled a pullback in price. Nevertheless, an upside of $0.023 can still be projected considering the broader market trend.

FTX Token [FTT]

Source: FTT/USD, TradingView

FTX Token witnessed a breakout from a symmetrical triangle a couple of days ago and was heading towards its upside at over $35. The On Balance Volume made a series of higher highs as buying pressure drove the price towards record levels. However, some selling pressure was also evident over the last few sessions.

The Bollinger Bands showed that volatility was on the up as the bands were diverging at press time. If sellers assume control of the price, there is a chance that FTT could trade below the Signal line moving forward. Such a move would put the bulls at risk of losing out to $28.5-support.


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Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://ambcrypto.com/ethereum-uni-verge-ftx-token-price-analysis-03-march

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