Tuesday, January 25

mining

Iranian President Calls for National Crypto Mining Strategy
mining

Iranian President Calls for National Crypto Mining Strategy

Iranian President Hassan Rouhani has ordered the government to draw up a renewed national approach for the emerging crypto industry. Chairing Iran’s economic coordination headquarters – a seminar for the national economic strategy – earlier this week, Rouhani told officials from the Central Bank of Iran (CBI), energy department and information and communication technology ministries that they needed to devise a new national strategy for crypto mining, including regulation and mining revenue, Iranian news site ArzDigital reported Wednesday. The news comes barely two days after the Iranian parliament published a bill proposing to apply the country’s strict foreign exchange and currency smuggling regulation to cryptocurrencies. The new parliamentary law would also require crypto exchanges o...
Crypto ‘Gray’ Markets Could Be Unintended Consequence of FATF Travel Rule
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Crypto ‘Gray’ Markets Could Be Unintended Consequence of FATF Travel Rule

Could an overbearance of regulation divide the crypto space and create a “gray” market composed of unregulated exchanges, where digital assets trade at lower prices? At a panel at Consensus: Distributed exploring the impact of the Financial Action Task Force (FATF) “Travel Rule,” Bakkt President Adam White said yes. “We are going to see a bifurcation in the crypto space,” said White. “We are going to see white crypto; we are going to see gray crypto. And those different forms of crypto will most likely trade at different prices.” The FATF, a kind of global anti-money laundering (AML) watchdog, makes recommendations on how best to fight financial crime, which countries and their regulators then implement. There has been some progress with the licensing and regulation of crypto in places li...
What I Learned the First Time I Lost a Million Dollars
mining

What I Learned the First Time I Lost a Million Dollars

Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities.“Did you look both ways?”I recently took my 7 year old son out for a bike ride and he started to cross the street without looking.  I grabbed his handlebars and shouted, “Did you look both ways?,” and he responded, “Oh, I forgot.” Fortunately, there was no traffic that day, and I was right next to him, but I explained to him that remembering to look both ways is not a luxury you can afford to forget. But looking back, I realized that I failed to remind him of that before we set out.  Foolishly, I ...