Hello Steemians, the best articles i have read today
Every day, i read 12 to 15 articles; i choose the most interesting and summarize them in points for you.
Interesting articles, hope you enjoy them
Article no 1:
Market Cap Jumps $ 51 B After Carney Tells G20 Crypto Does Not ‘Pose Risk’
Summary:
- Bank of England governor and head of the Financial Stability Board (FSB) Mark Carney told G20 members that cryptoassets “do not pose risks” to the world’s economy in a letter dated March 13, Reuters reported Sunday, March 18.
- The letter was addressed to G20 Finance Ministers and Central Bank Governors, who will gather for the summit in Argentina starting Tuesday March 20.
- “The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time. This is in part because they are small relative to the financial system.”
- Carney himself had also previously voiced the need for regulating rather than banning cryptocurrencies, despite claiming in February that Bitcoin had “failed” as a currency.
- the FSB “will identify metrics for enhanced monitoring of the financial stability risks” should usage of those assets continue to grow, “updating the G20 as appropriate.”
Personal Opinion:
Governments are lost whether they should put some strict rules on crypto companies or they should allow it to flourish and attract more jobs and new ideas, should they choke it, but they fear other countries will embrace it and win the race, since the crypto market is still small and it does not pose risk to the financial stability as stated by the head of financial stability Mark Carney , the decision is postponed (which is a good thing) and regulations will take place within each country by itself, this will give time to cryptos to advance a little bit in their development.
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Article no 2:
Coincheck Drops Anonymous Monero, Dash, Zcash
Summary:
- The Japanese exchange Coincheck, which is trying to recover from one of the worst hacks in crypto history, is expected to stop handling three cryptocurrencies providing high levels of anonymity. The cryptos are Monero (XMR), Zcash (ZEC), and Dash (DASH).
- It is virtually impossible to identify the recipients of funds denominated in these cryptocurrencies on their blockchains. That’s probably the main reason for Coincheck’s decision.
- The anonymity facilitates their possible use in money laundering, which is not the case with other cryptos, like bitcoin.
- The NEM coins that disappeared in the hack were worth about ¥58 billion (~$550 million USD) at the time. This month Coincheck said it was preparing to start compensating its customers, as news.Bitcoin.com reported. On Tuesday, the exchange announced it had refunded ¥46.6 billion ($440 million) to 260,000 customers who lost NEM.
Personal Opinion:
Although a lot of people argue that it is their right to stay anonymous when sending and receiving cryptos, I think once regulations are set, anonymous cryptos will be first targeted, in the future those currencies will return to the Dark Web.
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Article no 3:
Bittrex to Remove 82 Token Wallets
Summary:
- Bittrex, one of the largest cryptocurrency exchanges on the market, just announced it would be removing 82 token wallets at the end of this coming month. The reason? The U.S based cryptocurrency exchange decided to weed out altcoins that do not meet specific criteria.
- Still, investors of these digital tokens have a little time to get their portfolio’s together. The date they will be removed is the 30th of March giving investors a little under two weeks.
Personal Opinion:
Bravo Bittrex, Exchanges should help in removing tokens that do not meet certain criteria, this will help cleaning the market from fraudulent tokens and if not fraudulent, they may not have a good team to deliver what they are promising, if exchanges help keeping the market healthy and full of only good projects, this will help improving the whole market and will help also in increased trust of the mainstream.
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