Bitcoin has continued to rise over the following week, adding to a gain of more than 50% through December.
The value of bitcoin has been close to $30,000 consistent with bitcoin in the more than 24 hours, achieving $29,300 consistent with bitcoin on the Luxembourg-based Bitstamp exchange, an increase four times since the beginning of 2020 and on track of its largest monthly profit-consistent since May 2019.
Now, after the U. S. Treasury Department has been able to do so. But it’s not the first time Proposing new “costly” regulations on bitcoins and cryptocurrencies, the executive leader of one of the world’s largest exchanges, Coinbase, warned that they constituted “a truly extensive intrusion into their privacy for no reason,” and called on the bitcoin and cryptocurrency network to “directly express their concerns” with the Treasury.
“The back is that exchanges will have to collect the call and deal with you sending or obtaining cryptography for any transaction value greater than $3,000,” Coinbase CEO Brian Armstrong wrote in a blog post. “This is a really extensive intrusion into your privacy without an intelligent explanation of why, and much stricter regulation than classic monetary establishments must comply with. “
Proposed bitcoin and crypto regulations, brought through the Financial Crimes Enforcement Network on December 18, may allow the government to particularly track crypto transactions, purchase non-public knowledge, and deliver it to the government on demand.
“This is a great replacement and the Treasury does not take into account the effect it will have on you, our customers,” Armstrong wrote. “This worries us. “
The proposed regulation is recently subject to a 15-day observation period, however, it is shorter than the same 60-day observation window.
“Worse, while the era of commentary began friday before Christmas, we have less than nine days to evaluate this vital regulation that can have long-term consequences for anyone who interacts with crypto,” Armstrong added.
In addition to control considerations, bitcoin and cryptocurrency exchanges are a known weakness for cryptocurrency users’ privacy.
Earlier this month, the network of bitcoins and cryptocurrencies was shaken through a large knowledge gap that saw the non-public data of more than 270,000 users of bitcoins and cryptocurrencies published online. a hack in July, was published on RaidForums, a market for the purchase, sale and exchange of pirated data.
Elsewhere, while the U. S. Securities and Exchange Commission were not able to do so. But it’s not the first time Preparing to take legal action against Ripple, the author of the XRP virtual token, investors in bitcoins and crypto were warned that regulators “will one day attack Bitcoin”.
“I’m waiting for the day when one of those regulators is attacking Bitcoin,” Canadian investor and TELEVISION personality Kevin O’Leary told CNBC’s Squawk Box last week. “Adult men will cry when this happens. You’ll never see a loss like that. capital in your life. It’s going to be brutal. “
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