The major United States crypto exchange Kraken is in the latest cryptocurrency news for its recent decision to delist Bitcoin’s (BTC) offshoot named Bitcoin SV (BSV) according to an official announcement by the firm which came on April 16th.
The official press release went viral. Even through there were speculations that Kraken is considering a delisting (especially after Binance delisted Bitcoin SV), the official news came very quickly in which Kraken said that BSV is not suiting the exchange or the crypto community and its standards.
“Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them. The threats made last week to individual members of the community were the last straw, ” the exchange noted.
However, the crypto exchange Kraken and its latest altcoin news also pointed out to the fact that this decision was not made alone by the exchange. As they said:
“Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV. Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31.”
There was even a poll which could be answered by Kraken’s users about the decision – in which 71% of the users answered “Yes, it’s toxic” on the question whether the exchange should delist Bitcoin SV (BSV).
The crypto exchange Kraken also cited the erratic behavior such as fraudulent claims, threats and legal action as the main catalysts for the delisting. This decision comes days after Binance and ShapeShift, both reputable cryptocurrency exchanges, have decided to also drop the coin earlier this week.
Even though Kraken’s announcement did not refer to any names, it said that “the threats made last week to individual members of the community were the last straw” and that such aggression won’t stand.
Bitcoin SV’s price is also featured in the coming altcoin news, dropping by more than 30% on the week as a result of the delisting.
Binance Removes US Resident Ban: Launching In “A Month Or Two”
“3. Prohibition of use By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that "Binance is unable to provide services to any U.S. person," - which is why the difference is obvious.
China’s Digital Fiat Currency Is Not A Real Cryptocurrency
“Since last year, the staff at the Digital Currency Research Lab have been working 996 to develop the system. We can say the CBDC is now ready to launch at one’s call," was his speech, later shared by many best cryptocurrency news sites.The CBDC with this aims to replace MO, meaning cash in circulation through a two-tier system. The central bank will issue the digital yuan only to commercial banks, who will further issue it to the public. Meanwhile the PBoC and its Digital Currency Research Lab are the ones standing behind China's digital fiat currency - along with more than 50 patent applications which are all either invented or co-invented by Yao Qian. One patent application reads:
“The emergence of digital currency is an inevitable trend. So far, privately issued digital currency bears the features of anonymity and volatility. Central banks must take their impacts on the payments, monetary systems and financial stability seriously. As such, it’s inevitable for central banks to push for digitized fiat currencies to optimize their circulation.”However, physical cash is still arguably the only form of fiat money inside China that can remain anonymous. We can see that China's digital fiat currency is not close to cryptocurrency - and the only third-party methods which are compared to bank wire can be offered by companies like Alibaba or WeChat - both requiring real-name verification authenticated by users' IDs as well as additional banking information.
“Existing M0 (banknotes and coins) are subject to counterfeit and money laundering risks. … The [CBDC] system should follow the existing rules about anti-money laundering and anti-terrorism financing imposed on cash, and should report to the PBoC on large amounts and suspicious transactions,” Mu emphasized in a speech.
Market With Mixed Signals As Ether And Bitcoin Record Minor Gains
XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis
"Although many of the technicals like RSI, and position relative to moving averages looks like XRP is severely oversold and could bounce, traders should be cautious because the token has been falling out of favor with many crypto market participants, and there are many competing projects with similar characteristics and arguably a much better value proposition that have come to market."
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