The FATF guidance meets a schedule to get released on October 28. The entity will be aware of stable coins, NFTs and DeFi.

The Financial Action Task Force (FATF) reported that the entity has already defined the new regulatory standards for bitcoin (BTC), cryptocurrencies, and digital asset service providers. The agency desires to release the guide on October 28.

The announcement arrived after various discussions and postponements of the publication of the regulation this last June.

The reason for the delay, according to Siân Jones, senior partner at XReg Consulting, was because there was probably not enough time to handle and deliberate the complete volume of responses they received.

Currently, the entity came to achieve its goal after months of meetings. One of the most vital approaches is directed at the questioned “travel rule” and virtual asset service providers (VASP), according to a report presented on October 21.

The Group assured that they have a defined guide for the licensing and registration of VASPs”. Regarding the ‘travel rule’, the document adds principles of information exchange and contributions between VASP supervisors.

The agency highlighted that this updated guide desires to help countries and the private sector implement the FATF standards. The FATF expects the nations and the private sector to apply the standards on virtual assets and VASP as soon as possible.

The travel rule, a regulation that must get adopted by service providers with virtual assets

The first goal of the travel rule is to share information about users who manage operations that surpass USD 1,000, while VASPs are all those services that work as cryptocurrency exchange, support, or development platforms.

The agency maintains that it will be more vigilant and closely monitor virtual assets to detect any changes that might require further review or clarification based on the new guide. The surveillance also includes stable coins, tokens, non-fungible tokens (NFT), and even decentralized finance (DeFi).

It is worth remembering that the FATF is a group focused on the fight against money laundering and the financing of terrorism on a global scale.

The FATF is an international entity whose recommendations are not normative. It means that it does not establish laws as these are the responsibility of each jurisdiction. In any case, member countries tend to abide by the Group’s recommendations to avoid being sanctioned or on a blacklist.

The travel Ruler Received Criticism

As previously mentioned, the travel rule is one of the regulations most criticized by various actors in the world of cryptocurrencies because they consider it a violation of user privacy.

One of those users who have raised their voice against the rule is Coin Center. It is an organization that focuses on the rights of users over open blockchain networks. The organization argued that the policy disrupts the privacy of Bitcoin users, cryptocurrencies, and service providers, even those that allow P2P exchanges.

By: Jenson Nuñez

Although the company did not disclose dates, it clarified that it keeps opening the possibility of receiving payments with Bitcoin for its products and services. The company also highlighted that it did not sell the BTC acquired at the beginning of 2021.

Tesla indicated in a report recently filed with the US Securities and Exchange Commission that they might start accepting Bitcoin payments again.

This statement came from the company in its report to the SEC, confirming that it still has possession of the bitcoins acquired this year and left open the possibility of receiving the digital currency again as a means of payment for its products and services.

Although Tesla claims that it is open to the possibility of receiving payments with Bitcoin, the company did not disclose at the moment when it would have contemplated making this possible again.

Bitcoin Mining and Environmental Damage

At the time, Elon Musk’s flagship company struck the table by announcing the purchase of Bitcoin as part of its reserves and accepting payments with the digital currency. This announcement could have a positive effect on its price in the first markets.

While the news had a pronounced impact on the price of Bitcoin, critics and analysts highlighted that Musk referred to a real problem. Also, that the measure itself had a lot of consistency given that Tesla just dabbled in the manufacture of electric cars to mitigate the environmental impact.

Tesla’s announcement had just coincided with the stopping of mining activities in China, which led to a massive diaspora of companies based in the Asian country looking for more friendly conditions to keep it on with their commercial operations.

Recently published reports highlighted that this exodus has also helped companies in the mining sector set up their operations in latitudes where renewable energy gets used precisely to mitigate the environmental impact derived from electricity consumption linked to this practice.

On the other hand, the United States of America is the country that has received most of this diaspora, and it is now ranking as the country with most mining companies.

A new Dawn for Bitcoin and other Cryptocurrencies

On the other hand, the possibility that Tesla will once again adhere to payments with Bitcoin comes at a good time for the digital currency, which last week returned to a position above USD 60,000 per unit, approaching new historical highs close to those USD $ 67,000.

According to some analysts and enthusiasts, if Tesla decides to re-enable payments with Bitcoin, it could have a very positive effect but the real gain is that this measure would also motivate other companies to take similar steps, making the digital currency an increasingly demanded item among the unfamiliar.

Following the arrival of Bitcoin futures ETFs on the US market, many traditional investors might start to awaken interest in digital currencies. Cryptocurrency-based funds might arrive soon, although there are no official announcements about this arrival yet.

By: Jenson Nuñez

The Bitcoin Whales moved 131,009 BTC through 95 transactions, mainly through transfers from one exchange to another. Analysts from JPMorgan recently said that inflation is the real driver of the price of Bitcoin, not the launch of ETFs.

The price of Bitcoin (BTC) finally reached a new all-time high after so many attempts. Even though it has pulled back since then, it remains the cryptocurrency with the highest value. An analysis of the activities the whales did in the last week reveals their influence on the performance of Bitcoin.

According to data from CoinGecko, the value of Bitcoin has recently fluctuated between USD 59,540 and USD 62,200. At the same time, the Bitcoin whales retain some trends that allow predicting their next moves. As the price of the pioneering cryptocurrency seeks to resume its all-time high, their recent activity allows speculating what they could do with their coins.

According to Whale Alert, the whales maintain a sustained trend of not accumulating Bitcoin to benefit from the all-time high of its price by generating profits.

The Bitcoin Whales Remain Optimistic

In the past week, the Bitcoin Whales moved a total of 131,009 BTC through 95 transactions. The prevailing trend was the transfer of Bitcoin between exchanges, so most of the coins went from one platform to another. Those investors moved 57,396 BTC, equivalent to 43.81% of the total weekly trading volume.

The transfer between unknown wallets is the second most predominant trend among the Bitcoin Whales. They moved a total of 40,112 BTC, which account for 30.62%, for only two days. Likewise, there is evidence of the entrance of liquidity into the market with 19,449 BTC transferred from anonymous wallets.

However, the weakest trend is accumulation on the part of the Bitcoin whales. These events usually occur in bullish scenarios like this week, in which they transferred 14,052 BTC to anonymous wallets. The objective of the whales was to obtain the profits that they had not been able to generate in weeks.

To better understand the lack of accumulation of the whales, it is necessary to understand what happened in the cryptocurrency ecosystem.

Several Factors Lead the Price of Bitcoin Higher

The launch of the first Bitcoin ETF of ProShares in the United States fueled the rise of the price of Bitcoin. Although it was very promising, the value of the ETF shares dropped by 4% and closed at USD 24.30. That indicates that it followed the decline of Bitcoin on its first day of trading.

Analysts from JPMorgan recently said that inflation is the real driver of the price of Bitcoin. Nikolaos Panigirtzoglou, a strategist at that firm, added that the launch of BITO alone will unlikely trigger a new phase of massive investment in Bitcoin.

Those experts expressed that they believe that the perception that Bitcoin is a better hedge than gold led to the rise in its price. For that reason, there has been a switch from gold ETFs to Bitcoin ETFs.

However, investors hope that the pullbacks will be minor during the rest of the year. Meanwhile, other investors state that leverage levels are high in the Bitcoin futures market, which usually precedes a decline.

The Bitcoin whales will adjust their activity to generate the profit they have not made in the last months. Besides, if the price of the pioneering cryptocurrency falls, they will seize the opportunity to repurchase the coins they sell.

By Alexander Salazar

In Colombia, Binance blocked accounts due to a Dutch police investigation. A new fraud involving the Chivo Wallet came to light in El Salvador.

Significant events marked the world of Bitcoin (BTC) in Spanish-speaking countries last week. For example, there were problems with Binance in Colombia and Venezuela and a fraud associated with the Chivo Wallet in El Salvador.

An Argentine Car Dealer Will Accept Payments with Stablecoins

In Argentina, users of Bitcoin and other cryptocurrencies can pay over a hundred new businesses through Bitrefill. Meanwhile, car dealer Espasa partnered with exchange Buenbit to accept payments with stablecoins Tether (USDT) and DAI.

A security breach in the National Registry of Persons led to the leakage of personal data of all Argentines with a national identity document (DNI). That sensitive information reached deep web forums, where the hackers put it on sale.

Colombian Authorities Block the Accounts of Binance Users

In Colombia, there was a controversial provision involving the recently approved budget law. The Colombian government might take bank accounts with a balance below COP 92,000 (about USD 20) unused for over a year.

Besides, the authorities blocked the accounts of Binance users in Colombia due to an investigation by the Dutch police. However, the cryptocurrency exchange has not provided further details about that situation.

There is a Scam of USD 133,000 Through the Binance Exchange

Two men went to jail in Guárico state, Venezuela, for scamming at least USD 133,000 worth of cryptocurrencies through Binance. They had several profiles with false names on the platform, along with a third man the police were trying to find.

In Miranda state, the police seized 165 graphics processing units (GPU) used for mining cryptocurrencies without the permits issued by the Venezuelan authorities. Officials from the National Superintendence of Crypto Assets and Related Activities attended the raid.

A New Fraud Associated with the Chivo Wallet Occurs in El Salvador

Last week, there was a new fraud involving the Salvadoran government wallet for using Bitcoin, according to the developers of Chivo. They said a scam associated with short trading forced them to temporarily disable the option to see the Bitcoin price frozen for a minute.

Regarding Bitcoin, the government of Nayib Bukele remains optimistic about its positive impact on the economy. For that reason, they aim to obtain a loan of about USD 1,300 million from the International Monetary Fund. However, that agency does not welcome the adoption of the pioneering cryptocurrency in the country.

When Mexican airline Volaris arrived in El Salvador, Bukele said it would be the first to accept Bitcoin worldwide. Although the company would only receive the cryptocurrency at its headquarters in San Salvador, the option is not yet available at the moment.

Other Bitcoin-Related News in Spanish-Speaking Countries

Spain is taking decisive steps towards the adoption of Bitcoin adoption that involve banks. Last week, the Bank of Spain published the regulations for banks to request permission to operate with Bitcoin.

There has always been a privileged space for wrestling in Mexico, where the discipline will feature a collection of non-fungible tokens. The World Wrestling Council will also launch fan tokens along with the popular NFT collectibles.

In Paraguay, the police raided the headquarters of the Zoe Capital company in Asunción, the capital of the South American country. According to the authorities, the officers conducted the action as that company offers unauthorized investments.

By Alexander Salazar

The listing on the stock exchange of the first US ETF attracted many investors interested in cryptocurrencies. The trading volumes of ETH and other altcoins such as SOL, ADA, and BNB also saw increases.

The global market capitalization of cryptocurrencies reached an all-time high of USD 2.6 trillion this week. The launch of the first Bitcoin ETF of ProShares, BITO, and a rally in the prices of cryptocurrencies boosted it.

The volume of the market hit that record when the price of Bitcoin reached its new all-time high of USD 66,974. The pioneering cryptocurrency is currently trading at around USD 61,439 and has a daily trading volume above USD 34.9 billion, according to CoinGecko.

There was dominance by Bitcoin exchange-traded funds (ETFs) while all cryptocurrency-related operations had a 98% share. That percentage showed the interest from investors in acquiring crypto assets.

The mediations of the US Securities and Exchange Commission (SEC) and investors caused this market phenomenon. The SEC allowed the Bitcoin ETF to go public on the stock exchange, which attracted many investors interested in cryptocurrencies.

The first Bitcoin ETF of ProShares went public on the New York Stock Exchange (NYSE) on October 19^th. After nearly a decade of filing with the SEC for the launch, the BITO ETF raised around USD 3.5 billion.

Ethereum Cryptocurrency Wants to Follow the Footsteps of Bitcoin

A few days ago, the price of the Ethereum cryptocurrency Ether also hit a new all-time high of USD 4,361.

Despite the increase in the price of Ether, there was a considerable withdrawal of funds from the cryptocurrency for three consecutive weeks. Last week, investors withdrew a total of USD 1.4 million in funds from the Ethereum network.

Ether is trading at around USD 4,258 and has accumulated an 8.9% profit in the past week. Its daily trading volume is above USD 19 billion, while its market capitalization is approximately USD 500 billion, according to CoinGecko.

The trading volumes of other cryptocurrencies also experienced significant increases. Notable altcoins include Solana (SOL) with USD 8.1 million, Cardano’s ADA with USD 5.5 million, and the Binance exchange cryptocurrency (BNB) with USD 1.8 million.

The VanEck ETF Is Preparing to Go to the Market

The VanEck Bitcoin Strategy ETF (XBTF) will soon join the Bitcoin Exchange Traded Funds market. After years of trying to get the SEC to allow the launch of Bitcoin ETFs, VanEck will debut in a few days.

It will start trading as the third Bitcoin exchange-traded fund in the United States. The developers expect the VanEck ETF to have a 0.65% management fee, which caught the attention of large investors. That led the prices of those assets to skyrocket in a few hours.

Cryptocurrencies play a crucial role within the world economy. For that reason, a growing number of companies want to offer services with them, which has led to the emergence of ETFs. The Bank of Spain recently published information for the banks interested in operating with crypto assets.

By Alexander Salazar

Although she did not disclose which digital currencies she keeps in her wallet, she admitted that those assets are his financial shelter.

Former Facebook product manager and whistleblower Frances Haugen revealed that she uses cryptocurrencies as a financial backup.

Haugen is an American engineer who recently became a recognized figure worldwide after leaking a series of internal Facebook documents that question the company’s business ethics. Named by the press as the “Facebook Archives,” the papers present that the social media giant has prioritized its growth over the well-being of its users.

In an interview for the New York Times revealed on Saturday, Haugen acknowledges that she is “well within the foreseeable future” because she had purchased a handful of cryptocurrencies “at the right time.”

The former Facebook employee, who recently moved to Puerto Rico, said that digital currencies help her manage financially, although she did not specify what assets she manages.

Cryptocurrencies as a Financial Shelter

During the interview, Haugen commented that She had moved to Puerto Rico to face a health condition and join her “crypto friends.” The Caribbean island has become an attractive hub for Bitcoin and digital currency enthusiasts due to its friendly capital tax policy on such assets.

A previous report by the Politico news agency had highlighted that Facebook’s former product manager was receiving indirect financial help from Pierre Omidyar, founder of eBay.

Omidyar’s philanthropic organization Luminate is managing Haugen’s press and government relations in Europe.

On the other hand, eBay founder’s foundation has reportedly given $ 150,000 to Whistleblower Aid, a non-profit organization aimed to offer legal representation to Haugen.

However, the engineer clarified to the New York Times that the funds donated by Omidyar’s organization got only used to finance travel and related expenses.

In May, Haugen left his post on Facebook, taking with her tens of thousands of documents that have implicated the company in a chain reaction of controversies.

The files exposed the social media giant’s awareness that information posted on Instagram could be harmful to teenagers’ mental health.

The documents show that Facebook has had a weak response to how its platforms are a tool to spread hate, violence, and disinformation.

Some reports showed that the company knew its products were fueling ethnic violence in places like Ethiopia; and how it has subsequently failed to fight against misinformation on its platform regarding the January 6 riots in Washington.

Snowden also Supports Bitcoin

World-famous whistleblower Edward Snowden, a former CIA employee who uncovered top-secret US documents, has also spoken out in a friendly manner of cryptocurrencies. In a recent article, Snowden defended Bitcoin as a free currency due to its potential to avoid the power of governments and states.

Snowden also recently spoke on the rise in price that Bitcoin has experienced despite the blanket ban imposed by the Chinese government on mining and trading cryptocurrencies.

The former CIA agent tweeted that the flagship cryptocurrency has been made “stronger” by the Chinese offensive. He also ended up saying he feels the temptation to invest.

By: Jenson Nuñez