Several factors explain why Binance.US launched a separate platform. Changes in regulations and Binance’s own rules reaction to external changes stand out as a large driver.
The cryptocurrency’s price began to surge on Sunday night (7 November) as investors pumped the price from $62,319.98 at 8pm to $66,101.46 by 10am on Monday morning.
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Users can buy SafeMoon by setting up a crypto wallet on the Binance Chain Network and add Binance (BNB) coins to your account.
Bitcoin was trading 3.7% higher Friday morning. The price was around $61,200 per coin.
That can mean serious savings for investors, especially compared to some other exchanges. For example, if you want to buy $100 worth of Bitcoin on Coinbase, you’d actually end up with about $96.51 in Bitcoin, after fees. On Binance.US, you’d still have $99.99 to purchase Bitcoin after accounting for the 0.1% fee.
Bitcoin (BTC) is the preeminent cryptocurrency and the first to be used widely. However, hundreds of cryptocurrencies exist, and more spring into being every month.
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In the wake of both Coincheck’s hack–as well as a big one that hit the South Korean exchange Coinrail–governments in East Asia began to crack down. Over the course of a few months, China, Japan, and South Korea all announced different measures to better regulate crypto-trading. The world was watching to see if this new technology would hit the mainstream–and government crackdowns following gigantic hacks helped poison the public perception.
The algorithm allowed for secure, unalterable information exchanges between parties, laying the groundwork for future electronic currency transfers.
A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS.
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"While we expect the US Federal Reserve to adopt a soft approach to monetary policy going into 2022, timing a potential hike is not a simple thing.
Similar to forex — foreign exchange — trading, there can be significant risks involved with a largely unregulated market, and your best bet is to get informed beforehand, and don’t invest any money you can’t afford to lose. Regulators are still trying to figure out how to classify cryptocurrencies, for purposes of trading, payments, antifraud, taxation, and more. Clear regulation may help us understand how to use cryptocurrency and what its future may look like, but we aren’t there yet.
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Under Brooks' leadership at OCC, the regulator issued guidance regarding banks' use of stablecoins and blockchains, as well as an interpretive letter clarifying that national banks are allowed to provide cryptocurrency custody services.
@thebearablebull it’s time to switch to a digital currency. Fiat is dirty and is cause for the spread of the corona virus. Could this be the catalyst that advances utility of XRP???
And cryptocurrency exchanges are somewhat vulnerable to hacking, representing the most common venue for digital currency theft by hackers and cybercriminals like those responsible for taking down Mt. Gox.