IMF plans, with regulations, to prevent crime and supervise all the transactions. IMF experts revealed that the FATF guidance intends to regulate bitcoin.

Three officials from the International Monetary Fund (IMF) revealed the need for a global regulatory framework for cryptocurrencies. The goal, they explained, intends to consolidate the prevention of crimes with bitcoin (BTC) and other digital assets.

The three leading directors of the organization, Tobias Adrian, Dong He, and Aditya Narain, proposed to the IMF Financial Stability Board the development of a global regulatory framework. The goal would be to bring a more comprehensive and coordinated approach to keep track of all the trades executed with BTC and other cryptocurrencies.

According to officials, cryptocurrencies, characterized by their cross-border and cross-sector capacities, put limits on the effectiveness of national approaches to their regulation. Countries are adopting different strategies and, according to the executives, they may end up setting preventive measures for the comprehensive coverage of these assets.

The directors also talked about the Financial Action Task Force, which recently updated its guide to regulate bitcoin. However, they clarified that, while this and other regulatory proposals are quite useful, they are not sufficiently coordinated towards a global framework to handle risks against financial and market integrity, financial stability, and consumer protection.

The Proposals Seem to be Inconceivable from the Bitcoin Ecosystem

IMF officials highlighted all the aspects that the proposed regulatory framework must contain to make it global. For this, they rely on the crimes of corruption, money laundering, and terrorist financing that can get committed with cryptocurrencies. According to the international payments organization, Swiftthese digital currencies may play a simple role in these illegal actions.

Some proposals got applied in many countries and received the support of many companies such as Binance.  In the case of Binance, the most popular exchange according to its volume of trade, this year called for better regulation for BTC.

The entity explained that those who provide services related to cryptocurrencies, such as digital wallets, exchanges, and others, must have a license or authorization to operate.

The requirements must get tailored to the first assets and stablecoins use cases. Thus, investment services and products must comply with the same obligations as brokers and securities dealers, in addition to being supervised by the relevant regulator.

Meanwhile, services and products for payments with cryptocurrencies should meet similar requirements to those of bank deposits and get supervised by the Central Bank or the payment supervision authority of each jurisdiction.

Regardless of the authority to approve services and products connected to cryptocurrencies, all supervisors, from central banks to securities and banking regulators, must coordinate to address the various risks that arise from different and changing uses, they point out.

The directors also propose that authorities should provide more clear requirements to already regulated financial institutions regarding their exposure and commitment to cryptocurrencies. Meanwhile, all regulated entities that bring custody services will notice that every requirement needs to get clarified so these entities can address the alleged risks that could arise from that function.

By: Jenson Nuñez

The value of NEXO recently reached a low of USD 1.94, which could be the start of new bullish momentum. If the price does not break through resistance at USD 2.41, there will be more losses in the short term.

Although the situation is difficult in the cryptocurrency market, some struggle to recover the bullish trend in the short term. For example, the NEXO token is making an effort to start having signs of an optimistic future.

This currency is currently trading at around USD 2.28 and accumulated a 2.6% profit in the last hour. Its trading volume is above USD 10.3 million, and its market capitalization is about USD 1.3 billion. According to CoinGecko, it occupies 94^th place in the cryptocurrency ranking.

NEXO is the native token of a platform that offers loans backed by cryptocurrencies. They recently announced a partnership with Fidelity Investments, seeking to increase the reach of the blockchain protocol.

Technical Analysis of the Price of NEXO

The news of the partnership with Fidelity led the NEXO cryptocurrency to rebound strongly. However, it could not confirm whether the bulls regained control of the market.

The monthly chart shows that the price of NEXO fell throughout November and reached a low of USD 1.94 this week.

NEXO found quite relevant support in this drop, and it seems to be an excellent start for new bullish momentum.

At the moment, it is evident that buyers are the dominant force in the market of NEXO. The price recently went over the top of a symmetrical triangle, resuming the long-term trend. As the drop was a simple correction, the search for new all-time highs may be about to begin.

Predictions about the Price of NEXUS in the Short Term

The daily candlestick chart indicates that the price of NEXO has remained bearish in the short term. The continuous lows and increasingly lower highs have contributed to that drop.

The NEXO cryptocurrency recently reached a higher low attempting to change the trend in the short term.

However, unless the price breaks through resistance at USD 2.41, there will be more losses in the next few hours/days.

When the daily chart starts showing increasingly high lows, the price of NEXO will more probably reach new highs soon.

Bitcoin Is Also Trying to Regain the Bullish Trend

Despite the market crash, the Bitcoin holders who are more likely to sell are unconvinced to do it. In contrast to HODlers or strong hands, they usually get rid of their holdings at the slightest sign of alarm.

The Paper Hand ratio metric results from dividing young coins by the supply of Bitcoin. The value of that indicator is the lowest compared to the lowest point of the bearish market of 2018.

That could mean that the value of Bitcoin is very close to hitting the floor. Several analysts even consider that the correction could be ending and that the price has already bottomed out.

The cryptocurrency market has gone through crashes like the current one on other occasions. It is a matter of time before crypto assets resume the bullish trend.

By Alexander Salazar

DAOs will eventually replace traditional corporate structures, allowing users to vote or move funds in a few minutes. NFTs will have other applications besides buying and selling art, music, and videos, in the future.

Over time, cryptocurrencies are becoming a crucial component for buying tickets, forming and managing businesses, and paying salaries. That is the opinion of Lane Rettig, a former developer of Ethereum, the second most popular decentralized system.

Rettig stated that cryptocurrencies would have a profound and lasting impact on people. He believes that what has happened so far is relatively superficial since the social impact has only just begun.

The developer considers that cryptocurrencies have only taken the first steps towards their adoption. He compared the current situation to 1980 before Apple introduced its Mac personal computer.

A DAO Is a New Form of Business Organization

The cryptocurrency sector will make the creation and management of companies easier and cheaper, generating new kinds of entrepreneurs and businesses. In that regard, Rettig referred to DAOs (decentralized autonomous organizations), whose operation occurs through blockchain technology and smart contracts.

Token owners democratically and automatically manage DAOs, which will replace traditional corporate structures. That will allow users to vote or move funds in a few minutes.

The expert believes that DAOs are the next step in the evolution of the human organization. He also highlighted they are a generational change that will take decades to occur.

NFTs Have a Growing Number of Applications

Non-fungible tokens (NFTs), assets not mutually exchangeable claiming to have collectible value, have become extremely popular. Rettig considers that they will have other applications besides buying and selling art, music, and videos, in the future.

He said that anyone could buy tickets to the theater, movies, or concerts in the form of NFTs, which offer an open protocol. For that reason, access to the platform would eliminate intermediaries, thus reducing prices and fees and promoting competitiveness. The expert thinks that people could also acquire plane tickets.

Similarly, smart-contract technology could have applications in the payment of wages. In that way, employees could receive funds every second instead of once in two weeks.

Ethereum Has many Uses in Different Kinds of Projects

The decentralized system Ethereum, released in 2015, has many uses in different projects, including NFTs. Rettig said that the popularity of this network comes from the superiority of its technology. He compares it to Javascript, the well-known programming language.

He said that many professional software developers would refuse to work with Ethereum. However, he noted that it established itself in the world despite its many flaws. He added that the network is imperfect and complex but works quite well.

The expert foresaw mass adoption when he joined the project in 2017, after meeting Vitalik Buterin and his team.

Since he abandoned Ethereum, he started working on an alternative platform, seeking better efficiency and greater scalability. He also wants it to be more environmentally friendly than Ethereum and Bitcoin and use hard disk space and minimal power for data processing.

By Alexander Salazar

The arrest happened in Carabobo state, in the interior of the Caribbean nation. During the operation, the CICPC seized at least four cell phones used to carry out the scam.

A gang of cryptocurrency scammers got dismantled last week in Venezuela, according to information from the scientific police, who highlighted that the criminal act took effect in the Carabobo state, in the interior of the Caribbean country.

This information got released by Douglas Rico, current director of the Scientific, Criminal and Criminal Investigations Corps (CICPC), through Instagram. In his announcement, the official revealed the names of Raimer Eduardo Riera Riera (24), Óscar José González Flores (25), Eduardo José Vásquez Nieves (44) and Natalie Omaris Oliveros Blanco (36).

All the criminals got detained and placed under the Public Ministry. They got charged with forgery and fraud with crypto assets, although the official did not elaborate on the crime. The criminals, who took an active part in the criminal organization called The Cryptoactive Counterfeiters, are also current representatives of a company linked to the bitcoin ecosystem.

These criminals are all part of the Venezuelan regulatory entity, the National Superintendency of Crypto Assets and Related Activities also called SUNACRIP. Rico says they entered a false registration authorization to acquire capital through advice and deceiving third parties. As he specified, those detained worked through the Telegram messaging application.

According to Rico, the scammers, apparently, also have a connection to another similar event, but in the Cojedes state, also in the interior of Venezuela. The official pointed out that during the apprehension of those named, four cell phones were seized, which were used by them to defraud their victims.

This Scam is not the First Crime Related to Bitcoin in Venezuela

This case is not the only one linked to bitcoin and the rest of the cryptocurrencies. Similar events have already been spotted this year in that country, which is the seventh nation with the highest adoption of crypto assets, according to the firm Chainalysis.

In October, two subjects got captured by the CICPC for defrauding $ 133,000 through bitcoin and crypto exchange Binance. The alleged criminals are 21-year-old Leonardo Manuel Rodríguez Bolívar and 27-year-old Aaron Sinuhe Yepez Paredes, both got arrested in the Guárico state, located in the central region of the country.

In another situation, two other people got apprehended by the Cops after defrauding more than USD 130,000 on the LocalBitcoins platform. The subjects got captured in the El Paso sector, Guaicaipuro municipality, Miranda state, according to the news reported by Commissioner Rico.

In June, another case of scam got reported in various media outlets. A subject identified as José Alejandro Figueira de Abreu received charges for allegedly extracting at least 7.9 bitcoins, more than USD 300,000 at that time.

Due to the growing number of incidents related to BTC, and in addition to the presence of cryptocurrencies in that country, the general recommendation is to use regular and previously verified channels to set up trades with crypto assets, always protecting the integrity and using platforms that could bring more security guarantees.

By: Jenson Nuñez

These famous men became rich by investing in cryptocurrencies or selling products and services related to them. They have taken advantage of the volatility of the cryptocurrency to buy when its price drops and sell when it rises.

Bitcoin has the honor of being the first and most successful cryptocurrency on the market. The investors who have amassed huge fortunes with that cryptocurrency are responsible for much of its well-deserved fame.

Those Bitcoin billionaires have managed to predict the price of that tremendously volatile crypto asset. The value of Bitcoin was close to USD 10 in 2010, but it nearly reached USD 60,000 this year.

However, those Bitcoin billionaires did not become rich only by accumulating and mining cryptocurrencies. Much of their wealth came from creating various products and services related to that asset.

Sam Bankman-Fried Made His Fortune through His Cryptocurrency-Related Firm

The CEO of cryptocurrency investment platform FTX is one of the fastest-growing cryptocurrency billionaires. The 29-year-old MIT graduate has not stopped making money after founding his company in 2019.

According to Forbes, the firm of Bankman-Fried was worth USD 8.7 billion in April 2021. The executive has taken advantage of derivatives, digital tokens, and contracts before public offerings to increase his wealth.

The Winklevoss Brothers Became Rich through Their Cryptocurrency-Investment Platform

Litigation with Mark Zuckerberg made Tyler and Cameron Winklevoss very well known worldwide. They obtained USD 65 million worth of Facebook shares and cash from the lawsuit, which they invested in crypto assets. The twins became the first cryptocurrency billionaires following the late-2017 Bitcoin price surge.

According to Forbes, they occupy second place in the ranking, with USD 3 billion each. However, much of their wealth does not come from investing in cryptocurrencies but from creating Gemini in 2014.

The investment platform was worth USD 7.1 billion after it raised USD 400 million in November 2021. The Winklevoss brothers also own a platform for buying and selling NFT.

Barry Silbert Has Invested in Many Cryptocurrency-Related Companies

The CEO of Digital Currency occupies third place in the ranking, with a net worth of USD 1.6 billion. Barry Silbert made much of his fortune thanks to that venture capital firm.

Silbert also owns Genesis, Grayscale, and Bitcoin Investment Trust, companies in the crypto ecosystem. However, this billionaire has invested in more than 100 companies related to crypto assets, earning the nickname king of cryptocurrencies.

Brian Armstrong Created a Cryptocurrency-Investment Platform for Small Investors

After leaving a job as a programmer in 202, Brian Armstrong co-founded cryptocurrency-investment platform Coinbase. That life change brought him a net worth of USD 10.9 billion, Forbes estimates.

Small investors use his company as a gateway to the world of cryptocurrencies. In that regard, the billionaire claimed that he wanted a global and open financial system that fueled innovation and freedom for the world.

Michael Saylor Has Acquired Bitcoin as a Store of Value

The co-founder and leader of MicroStrategy, Michael Saylor, began his investment in Bitcoin in August 2020. At the time, he acquired USD 250 million worth of Bitcoin.

The community knows him as a Bitcoin guru whose investments have generated USD 3.5 billion. Besides, his company increased its market value by 337% after buying Bitcoin during its price drop. According to Forbes, the net worth of  Saylor is at USD 2.3 billion.

By Alexander Salazar

The devices allow citizens to buy and sell Bitcoin with a minimum of 20 lempiras, equivalent to USD 0.83. The country will have a third ATM in the next few days, expanding the offer for inhabitants of Tegucigalpa.

Tegucigalpa, the capital of Honduras, already has two cryptocurrency ATMs and is awaiting the arrival of a third one. That new device will allow more citizens to have the opportunity to enter the world of crypto assets.

Hondurans can find the second Bitcoin ATM at Casa Quinchon, a historic building in downtown Tegucigalpa. Its Twitter account indicates that it provides space for entrepreneurs and freelancers from the Central American country.

While the previously installed machine only allowed buying Bitcoin, the new one also permits selling it. People can make transactions with a minimum of 20 lempiras (HNL), equivalent to USD 0.83. The inhabitants of Tegucigalpa will have the third device in the next few days.

The installation of the first Bitcoin ATM in the capital of Honduras occurred at the end of August. That device is at Torre Morazán, located on the avenue of the same name.

Citizens need a cryptocurrency wallet on a mobile device and a personal identity document to operate with them. The procedure to use those ATMs is so simple that they can quickly learn to use them.

Bitcoinera Is a Project that Promotes Bitcoin in Honduras

In 2019, Juan Mayén returned to his country after studying business administration abroad. He founded the La Bitcoinera project to promote this technological development in the region. He said that he wanted to encourage the adoption and use of Bitcoin and make it accessible to people in Honduras.

Mayén adds that his project could help turn Central America into a leading technology hub worldwide. The entrepreneur considers that the recent Bitcoin Law of El Salvador could be a catalyst for the region to accelerate its technological growth.

According to data from CoinATMRadar.com, there are 33,257 cryptocurrency ATMs in 77 countries.

Those devices are already in operation in Spanish American countries like Argentina, Chile, Peru, Brazil, Ecuador, Colombia, Venezuela, Panama, El Salvador, Costa Rica, and Mexico. In January 2022, Uruguay could also install its first Bitcoin ATM, which would further expand the reach of that cryptocurrency.

The Growing Interest in Bitcoin and Other Cryptocurrencies in Spanish America

Adopting Bitcoin as legal tender in El Salvador was just the start of a wave that does not seem to stop. The installation of new ATMs in Honduras and Uruguay are only two examples of what has happened in the region.

Many people turn to crypto assets as a hedge against inflation since they have proved to increase their value in the long term. Well-known figures have invested in Bitcoin and altcoins, which has allowed them to make a fortune in a few years.

The high inflation levels have forced a growing number of people to turn to cryptocurrencies as a store of value. For example, Venezuela is on the top ten list of countries with the most transactions with digital assets worldwide.

By Alexander Salazar