Visit - https://t.me/freebitmexsignals
For more news latest update on cryptocurrency, Free bitMEX Binance signals & bitMEX Cryptocurrency trading BOT visit above given Telegram group
The US agency puts out a call for prototypes to trace Monero, Zcash, OmiseGo, and other cryptocurrency tokens and platforms.
In brief
The IRS is on the hunt for new crypto tracing tools.
The request is focused on privacy-centric coins, as well as off-chain/side-chain protocols.
Interactive prototypes can be submitted until July 14.
The United States Internal Revenue Service (IRS) is seeking tools that it can use to trace privacy-centric cryptocurrency tokens, as well as Layer 2 off-chain transaction protocols such as Bitcoin’s Lightning Network.
The agency issued a Request for Information earlier this week for the pilot program initiated by the IRS Criminal Investigations Division. The IRS is seeking an interactive prototype with a graphical interface that will let it cluster together transactions from a user, as well as associate “user distributed addresses with distributed ledger addresses” of criminal suspects. The news was first reported by industry publication The Block.
Additionally, the agency wants a prototype that can provide a library of suspects’ distributed ledger addresses, uses open-source intelligence data, and lets agents share data between investigations, as well as export data into various file formats.
The request specifically calls out the cryptocurrencies Monero (XMR), Zcash (ZEC), Dash (DASH), Grin (GRIN), Komodo (KMD), Verge (XVG), and Horizon (ZEN). In addition to Lightning, it also mentions Layer 2 protocol networks Raiden Network and Celer Network, as well as side-chains such as Plasma and OmiseGo (OMG).
The IRS admits that it doesn’t have a lot of options on those particular fronts.
“Currently, there are few investigative resources for tracing transactions involving privacy cryptocurrency coins, Layer 2 network protocol transactions, side-chain ledger transactions, or transactions on distributed ledgers that are adopting signature algorithms that provide privacy to illicit actors,” reads the request document.
Recently, public records discovered by The Block pointed to both the IRS and US Drug Enforcement Administration seeking to purchase Bitcoin tracing tools from Coinbase, much to the horror of the crypto community.
Visit -https://t.me/freebitmexsignals
The Best Bitmex Trade Copier that has a strategy to make 4% to 8% daily
Indeed it is very difficult to generate 4% to 8% dialy – but if you are making a net profit of 160 to 200% Per month then the daily average easily comes to around 4 to 8%.
We only say what we are able to make through our Bitmex Trade Copier – it is very dynamic in nature thus it is also called as Dynamic BOT
Our Bitmex Dynamic BOT displays all the Premium Signals – thus even if you don’t have access to Telegram then also you don’t need to worry about it
Soon our Dynamic Bot will also be available directly on app which will take the trading to never level
Join our largest Bitmex Community here - https://t.me/freebitmexsignals
For more live news latest update on Cryptocurrency & best quality free crypto trading signal on Telegram join below give channel
Visit- https://t.me/freebitmexsignals
Latest Bitcoin News
It is the opinion of Hester Peirce, a SEC commissioner, that is sparking debate convincing many that an elusive crypto bull run is on the offing after an extended dump down that saw prices of mainstream digital assets like BTC register double digit losses throughout 2018.
From her remarks at the University of Missouri School of Law during the Protecting the Public While Fostering Innovation and Entrepreneurship: First Principles for Optimal Regulation, it appears as if her stand on some types of tokens is clear.
From what we can glean, Hester is of the opinion that tokens off functional platforms are utility tokens and shouldn’t be classified as securities and placed under the SEC radar. She also appears to be pushing hard towards the final approval of a Bitcoin ETF which as we know will lead to an influx of institutional money and regulation from the commission.
“Once “a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosure becomes less meaningful” and offers and sales of tokens are no longer subject to the securities laws.”
She goes on adding:
“The SEC’s attitude toward innovation is important because we regulate an industry that is a key gatekeeper for progress and productivity in the rest of the economy. The agency’s opportunity to rethink its approach to innovation also arises out of a decade of technological development related to blockchain and cryptocurrencies.”
Also Read: Bakkt Is ICE’s Bitcoin (BTC) ‘Moonshot’ Bet, And That’s Ok
Trend and Candlestick Formation: Bullish, Double bar Bullish Reversal Pattern
From the chart, BTC is technically bearish trading within a bear breakout pattern set in motion by mid-Nov hash rate war triggered meltdown. Regardless, there is a resurgence but BTC bulls must first clear the $3,800 mark while simultaneously confirming bulls of week ending Dec 23 high. Break and close above Dec highs at $4,500 would catalyze bulls and in another bull breakout pattern lead to the second stage of a classic breakout pattern—the retest—whose targets will be $5,800–$6,000 breakout levels.
Volumes: Bearish, Low
As mentioned above, BTC is trading within a bearish breakout pattern and marking these sellers are climactic volumes of week ending Nov 25. Volumes are huge—434k versus 138k. Week ending Dec 23 bull bar volumes stand at 273k versus 197k and as we can see, subsequent bars are oscillating within week ending Dec 23 high low with low volumes. For our bullish stance to be valid, there must be a wide range breakout bar driving prices above $3,800 and $4,500 complete with high volumes—exceeding 145k averages and 273k of late Dec bull bar.
Her positive comments are a few days after Robert J Jackson Jnr, another SEC official said the commission will eventually approve Bitcoin ETF whom Jay Clayton is wary that the unregulated nature and lack of proper monitoring tools needed to abet and completely stamp out manipulation is lacking.
BTC/USD Price Analysis
Bitcoin
The market is vibrant and after Feb 8 surges when BTC added 8.4 percent by close, there is an across the board renewal. All the same—and as expected after such rallies, BTC prices are contracting gifting savvy traders another opportunity to load on pull backs. Moving on, we shall retain a bullish outlook. However, it is after prices surge past important resistance levels—at $3,800 and later $4,500, is when both set of buyers can buy on dips with targets first at $4,500 and later $5,800–$6,000 resistance levels.
