The SEC should bring more precise regulatory rules on cryptocurrencies, says Peirce. The commission wasted a lot of time focusing on the “illicit,” said the official.

Hester Peirce, a member of the United States Securities and Exchange Commission (SEC), criticized that body’s strict regulatory policies around the approval of a bitcoin exchange-traded fund (ETF). The commissioner stressed that constantly adding more requirements to applicants for bitcoin ETFs “is unfair to innovators.”

The commissioner took part in a virtual conference of the British Blockchain Association on March 15. The commissioner stated in her presentation that regulators should set promotions of more transparent policies to do more accessible work for traditional financial institutions so they can “engage with cryptocurrencies with the confidence that they are complying with regulatory obligations.”

The ​​cryptocurrency-based Exchange-traded Products (ETPs) Area, Which Adheres to Bitcoin ETFs, was a Focal Point of Peirce’s Speech at the Conference

Peirce said the commission’s overly cautious approach makes it more difficult for it to change its stance in the face of successive ETP requests. “If we have said no to one proponent of a product, how can we say yes to another who seeks to offer a similar product?”

Peirce says that the bitcoin ETF is one of the most usual topics in his recent interviews. The official says to date that the SEC has rejected the approval of ETF, “although a growing list of proponents has requested approval.”

Proponents’ Statements and Votes Faced Salvation after the Disapproval of Those Requests

“Rather than applying the fairly straightforward standard that we have typically applied when approving other ETP submissions, including for precious metals like palladium and platinum.”

“We have insisted on increasingly sophisticated analyzes of the relationship between the underlying bitcoin spot market and the market. futures, to determine the susceptibility of these markets to fraud and manipulation.” These words come from Hester Peirce, SEC Commissioner.

It is unclear, Peirce noted, whether previous applications for non-crypto currency ETPs could have received approval under this more rigorous approach.

She also stated that the constantly changing goals and requirements that fall upon applications are unfair to innovators.

“The reluctance of the SEC to allow traditional investment vehicles associated with bitcoin or bitcoin futures has contributed to investors looking for more expensive, less convenient or less direct substitutes,” said the official.

Who is Hester?

Hester Maria Peirce grew up in Cleveland Heights, Ohio (United States), in a family of academics. Her father was an economics professor at Case Western Reserve University, and in 2006 he ran – unsuccessfully – for governor of Ohio with the libertarian ticket.

Peirce studied economics at Case Western Reserve University, where she obtained her BA in 1993. This training “radically shaped my view of things”; as she recounted in an interview with the Wall Street Journal, including her stance on how regulation can distort incentives for companies and entrepreneurs.

After receiving her doctorate in law from Yale (1997), he served, between 1997 and 1998, as secretary to Judge Roger Barry Andewelt in the Court of Federal Claims.

Hester also worked as an associate at the Washington, DC law firm Wilmer, Cutler & Pickering (now WilmerHale). In 2000, Peirce served on the Securities and Exchange Commission, where he worked for eight years. First, he worked as an attorney in the Investment Management Division, and then as an attorney for Commissioner Paul S. Atkins from 2004 to 2008.

By: Jenson Nuñez

The entity is intending to monitor all operations out between bitcoin exchanges. The group aims for better control and surveillance with a centralized approach.

The Financial Action Task Force released a preliminary update on its guidelines regarding bitcoin, cryptocurrencies, and other crucial digital asset service networks. In one section, the entity talks about forbidding every transaction to and from private wallets (self-custodians) in the case of peer-to-peer or P2P transactions.

The organization states that countries must understand the “risks” of operations of this kind to fight money laundering and terrorist financing. The FATF suggestion is to limit the interest of States taking action to “mitigate” P2P processes.

The guideline suggests denying the license to digital asset service providers (VASPs) if they dare to permit transactions to/from non-obligated entities (i.e., private / non-hosted wallets) to accept trades only from/to other services providers of digital assets.

The guideline also suggests that traders could only complete a transaction within a bitcoin exchange or between multiple exchanges. The potential ban would make traders avoid withdrawing their funds to their private wallets but leave them at exchange houses or move them between them.

The funds that operate from that wallet to an exchange would not be allowed to comply with the ‘travel rule.’ According to the rule, exchanges must share information about those users who carry out operations that surpasses $ 1,000.

VASPs’ mission is to get the awareness of all times a transaction is in process, the origin of such transactions, and where they are going. The FATF and this dynamic could be facing an obstruction about using the particular wallets that each user has on their phone.

FATF Centralized Oversight over the Main Cryptocurrency

The FATF guidelines and those other actual suggestions that it does this time seem far from being the complete solution that the industry needs. According to Grob, this is another attempt by supervisors to “control the issue.”

Quoted by digital means, the director explained that the approach that the group tries to implement mainly bases on centralized control or surveillance. The FATF’s purpose would be to give a closer look to financial operations on “all parties similarly, regardless of technology.”

ATwitter user Peter Slagter (@pesla), posted that the FATF draft is an ongoing war on cash and privacy. “It is as optional, but it’s still vicious.”

The FATF would launch a more solid guide for cryptocurrencies and service providers related to bitcoin. This draft is an update of the organization’s guidelines for malicious actors not to launder money or finance terrorism using cryptocurrencies.

The FATF was created in 1989 and received the support of 40 countries. It has since formulated recommendations and a standard to minimize money laundering and terrorist financing. It does not proclaim laws but guidelines that each country may adjust to its local laws or not.

By: Jenson Nuñez

Siacoin creates a licensing system that keeps Skynet being open-source and going up 100%. Filecoin increases 80% after facing its incorporation into the investment funds of Grayscale.

Through March 15-21, 2021, the cryptocurrency market has been bullish. According to Coin Check-Up statistics, more than 60% of altcoins are progressing in a way that surpasses 70%.

The most suitable cryptocurrencies in these seven days are behind Siacoin (SC), which launched a new licensing system for its Skynet platform. Filecoin (FIL) follows because of its inclusion in the list of investment funds of Grayscale. And finally, Beam (BEAM) gets ready for the implementation of smart contracts.

The weekly top resumes its completion with Tron (TRX). The actress Lindsay Lohan will soon be releasing new non-fungible tokens (NFT); and Ripple’s XRP, which is also moving forward with its RippleNet expansion plans outside of the United States.

The price of bitcoin registered a descent last weekend, even though at the beginning of the week, it once again surpassed USD 60,000. At the same time, BTC depreciated by 5% this week.

The pioneering cryptocurrency experienced slight corrections right after the peak it touched the previous week. The price went from a low average of $ 53,393 to a high ridge of around $ 61,600.

Despite the visible decrease, more news shows how institutional investments and interest in cryptocurrency have held up. A new report from the German bank Deutsche Bank released a statement arguing that cryptocurrency’s $ 1 trillion capitalization makes the situation impossible to forget. The report also claims that Bitcoin is solid although its volatility.

The Ether’s Value (ETH) is Also Falling by 5%, lurking between $ 1,719 and $ 1,939 in only a Week

Recently, the co-creator of Ethereum, Vitalik Buterin, assured that the blockchain could experience a hard fork, as happened in 2017 when Ethereum Classic (ETC) emerged.

According to Buterin, the reason could be that some miners and users prefer to keep using the current version of the network and not moving to Ethereum 2.0. However, he considers that the “risks” of the blockchain splitting “are much lower” than they existed before.

Other relevant cryptocurrencies on the market are showing ups and downs. Cardano (ADA) is up 11%, while Ripple’s XRP gains around 12% and ranks in the weekly top. Polkadot, on the other hand, falls 0.4%, and Litecoin loses 10%.

Sia Monetizes Open Source Licensing System for Skynet

This week, the Siacoin team released a new licensing system for Skynet, its platform for the distributed data warehousing service. The new scheme establishes that all outgoing financial transactions on the network will be subject to a 20% fee payment, which will arrive at the Skynet Labs team of developers.

The announcement firstly appeared on March 18 on Sia’s blog amid the constant growth in the value of her native cryptocurrency, Siacoin. SC’s price topped 100% on March 20, when it traded at a high of 0.0296. On average, the cryptocurrency rose 74.2%.

By: Jenson Nuñez

The technical specifications are waiting for their upload through the Ethereum source code. The update would follow on to Phase 0 of development that began in December.

In recent days, right after the phases to complete the final implementation of Ethereum 2.0, the technical specifications faced their launch and now will be ready to allow the merging of both versions of this cryptocurrency network.

These new features would permit both Ethereum version 1.0, which works under the PoW (proof of work) consensus protocol, and version 2.0 that uses PoS (proof of stake) to work parallel. These parallel works will remain only while the final migration is complete to version 2.0. The network would use only the PoS protocol.

These specifications, which can be proposals, met their uploads into the official Ethereum repository on Github by the developer who identifies himself as Mikhail Kalinin (Kalinin). They have their roots in the Beacon Chain’s implementation proposals (chain with PoS of ETH 2.0).

It should be essential to consider that the code belonging to the merger’s new specifications has not yet been uploaded to the Ethereum source code by Kalinin’s request. The corresponding tests are under development.

ETH 2.0 Has Already Gone Through a Long Path. There is Still a Road to Go

On December 1, 2020, the genesis block went through a mining process within the Beacon Chain, the Ethereum blockchain, which works under the proof of stake protocol. A long way since Vitalik Buterin made the first transition proposals from ETH 1.0 to 2.0 back in 2019.

ETH 2.0 is currently in Phase 0. In this phase, the implementations that allow the merging of both networks begin their development. This merging requires a crucial change since this modification implies changing the execution mode in which Ethereum currently behaves.

In later phases, there are plans to complete the merger, which will take place gradually. As planned, being on Phase 2, the ETH 1.0 dApps will be compatible with the ETH 2.0 network.

The Reason behind this Consensus Change in Ethereum

Ethereum has suffered from a growing demand for use. The rise of dApps (decentralized applications) and the ever-increasing interest in DeFi (decentralized finance) has caused the network to suffer saturations that affect all users and applications under the Ethereum spectrum.

The change from PoW to PoS was born to set improvement in scalability and lighten the capacity. This new council model would bring the Sharp Chains, which are sub-chains of the main Ethereum chain. These would also work with PoS and would have their validator nodes.

This change would allow enlightening the load within the main chain since, within the ETH 2.0 network model, each dApp could have its Sharp Chain, which would avoid congestion if the leading network becomes saturated.

Of course, this is just a theoretical model, which seems to solve the current situation in practice. However, the development’s evolution is on its way, and the number of delays in the launch of ETH 2.0 phase 0 is also something too worrying.

By: Jenson Nuñez

The driver appeared in public and later got removed by Nvidia, but it now seems to be released on other websites. There is also another method to mine Ethereum with the RTX 3060 even without using the new driver.

A limitation to Ethereum mining on RTX 3060 graphics processing cards (GPUs) from the company Nvidia was accidentally unlocked by the same manufacturer thanks to a driver that they published by accident.

Last February, Nvidia released a series of GPU cards designed for professional cryptocurrency mining (CMP). But Nvidia also limited the hash rate achievable by the RTX 3060 to separate the two markets that demand its products the most: video games and cryptocurrency mining.

Nvidia applied this strategy to prevent its products such as the RTX 3060 and other GPUs from selling out since the massive demand for equipment suitable for cryptocurrency mining occupies a large part of the graphics card market, leaving gamers without access to the famous graphics processing cards.

The Hash Rate Limitation on the RTX 3060 Card got removed by accident

 Nvidia clarified to The Verge that the hash rate limitation on the RTX 3060 card had been accidentally removed, with the publication of a later removed driver on its website.

“One driver included internal development code that inadvertently removed the hash rate limiter on the RTX 3060, in some configurations,” said the source.

Currently, the driver appears unavailable on the Nvidia website, although those who managed to download it and have the technical capabilities to do so may have started mining Ethereum with the RTX 3060 card.

The GeForce 470.05 Beta Driver Increases By Far the Performance of the RTX 3060 Cards

The GeForce 470.05 beta driver increases the performance of the RTX 3060 cards, making them capable of mining Ethereum. Now the driver file is spread around the web indiscriminately, without Nvidia having a single chance to stop it.

Without using the GeForce 470.05 driver, Andreas Schilling, editor of the specialized medium HardwareLuxx, checked a rumor that serves as a solution on other websites. Schilling took a GeForce RTX 2080 card as the primary GPU and docked the GeForce RTX 3060 as a secondary GPU via an HDMI cable as a dummy.

The dummy concept allows the first GPU to be “tricked” into believing that the second GPU is a screen or monitor for viewing. It has complete capabilities of increasing the equipment’s generalized hash rate until it can mine Ethereum, with some additional configurations.

However, the driver that Nvidia published would allow using accidentally the RTX 3060 directly without significant troubles, serving as a neutralizer of the limitations imposed by the company in this new series of GPU cards. Nvidia also plans the launch of the RTX 3080 Ti for April and May and will also include mining limitations.

One of the competing brands is AMD, which is preparing the launch of its line of chips to mine Ethereum. A whole new level of excellent tools is paving its way to enrich the crypto-environment.

By:Jenson Nuñez

An early 20th century expert with a permanent installation at the Museum of Contemporary Art (MoMa) is about to return to life in block slavery.

In collaboration with NFT marketplace Mintable, the Wladimir Baranoff-Rossine community will launch a collection of the esteemed painter’s work.

There will be a series of digitized paintings for an auction of 1,000 prints, three auctions of pieces digitized in an NFT, and a hybrid NFT / physical painting auction. That sale will send the highest bidder both a unique painting of Baranoff-Rossine and an NFT of the work.

 Mintable CEO Zack Burks pointed out that the upcoming auction could be the most prominent example of a physical tokenization box. Mintable talked about this matter on the podcast by cryptocurrency market data provider Courageous New Coin.

“This is historical; we’ve never had little like this in the NFT ecosystem,” Burks said. “NFTs have been out there three springs, at least on Ethereum, and a work of art has never been a token. There has always been little that we have discussed in the NFT ecosystem, but it has never really been finished, and especially not true that it has such an ambassador as Wladimir Baranoff-Rossine”.

Mintable Postponed the Interest of Art Collectors, Ethereum Nouveau Riche, and Casual Collectors

Baranoff-Rossine’s grandson said that the combination of physical art and blockchain is a good fit for the Russian artist. A plastic artist and a period are known for his experiments and avant-garde pieces that fused sound, color, and technology, such as the “orthophonic piano.”

Burks and Baranoff-Rossine’s grandson said that Mintable postponed the interest of art collectors, Ethereum nouveau riche, and casual collectors.

Without blocking, donated the insane $ 69 million price tag of Beeple’s “Everyday: The To start with 5000 Times” at Christie’s auction house. Burks believes the bid will turn into a dispute between an NFT collector and a collector of fine arts, donated that the combination can attract the two worlds:

“For me, I run an NFT market, I like NFTs, I collect NFT, and when I see this, I want to buy it. I want to hang this on my partition. I want to have an art bedroom in my house AND have the NFT. That is the beauty of this auction.”

Critics Now Are Playing the Role of Collectors

Many collectors in the art world have been demanding about the new incursion into cryptocurrencies. They complain that digital artists and NFT are childish behavior and something that should not cash enough interest.

His grandson responded on the matter:

“Absolutely. It’s little that Rossine did during his entire career, so yeah, definitely, I think that’s the exciting thing about block slavery,” Rossine’s grandson said. “The other thing is, as an actor, the most important thing is that you want the crowd to see your work, whether you are dead or alive, so all the artistic spectacle in the Blockchain technology and the NFT space is bringing many more fans. To the collection”.

The auction will feature some works with a variety in prices. The main auction will be the physical painting linked to the NFT (the champion will receive the picture by mail) and three other auctions of digitized works and six “open editions”: 1,000 digitized fixed price pieces.

By: Jenson Nuñez