Some Important Things to Know Before Investing in Cryptocurrency – Programming Insider

Billionaire investor Paul Tudor Jones named it as the top bet to hedge against bitcoins post-pandemic inflation. The average investor probably does not know much about bitcoin. In this case, this cryptocurrency is seen in the news, Bitcoin, which is considered as the first cryptocurrency digital currency. Cryptos are not managed at all by a bank and by a public agency. In order to perform all transactions of cryptocurrency tokens, the public blockchain is entered into it. It contains the stored digital information of the database. In this, the future of everyone remains uncertain. To know more you can visit bmmagazine.co.uk

The co-founder of Framework Ventures, also known as Michael Anderson, uses tokens or coins used in its decentralized network that are not at all the same as all the companys shares. It requires new models to succeed in order to advance all networks. We are in its first inning to prove it.

Cryptos Are Risky

By the majority of start-up companies in it, most of the crypto assets in it can fail, says Anderson. All non-professional investors should invest in it for an amount that you can be prepared to lose. By all investors, despite a story of making millions in it, to invest in its inadequate time It can also rapidly reach its peak loss as a result before. In the year 2017, the business of bitcoin (BTC) had reached about $ 1,500. At the end of May 2017, the Bitcoin (BTC) unit traded up to about $ 1,500. Talking about December 2017, it peaked at its peak, bitcoin that rose to nearly $ 19,800. BTC had recently reached a price of about $ 6,600 to $ 7.600 from April 7 to April 15. Investing in crypto gives you a chance to make you rich, its market which is very volatile, there is also a possibility of loss.

The Uses for Cryptos Vary

The cryptocurrency is also known for its illegal transactions and financing. Crypto is accepted for all legal business transactions. Cryptos that offer their fast, low cost and their own money transfers. This makes the transfer of international money popular. In fact, it takes only two and a half minutes for all $ 99 million worth of bitcoin (LTC) transactions. It costs very little more than a dollar in remittance transaction fees. It is completely free from cryptos authorities, and cannot be frozen so easily, because it contains the wallets private key that the owner owns. Investors who can also speculate listed in cryptocurrencies can easily make this betting successful.

Cryptocurrency Investors Use Many Strategies

In order to make simple speculation investments, it gives an approach to cryptocurrency. In order to invest in this stock market, it has specific strategies for all investors. Marcus Swanepoel, CEO of global cryptocurrency company Luno, said that you can easily do the day-trading of crypto, and with both fundamental and technical analysis, you can easily buy and sold its assets, and we can evaluate it as well. Despite the difficulty of predicting digital currency fluctuations, Swanepoel claimed that it also had some methods of market analysis that informed all investors to buy and sell. All strategies for evaluating cryptocurrencies include concepts for demand and future use for its asset supply.

Excerpt from:
Some Important Things to Know Before Investing in Cryptocurrency - Programming Insider

Cryptocurrency Savings Accounts: Will This New Trend Help You Boost Earnings? – Forbes

Investing in cryptocurrency may seem like a huge gamble, but the bet has paid off tremendously for those who invested in the right type of crypto at the right time.

In November of 2015, you could buy a single Bitcoin for a little over $300, yet a single coin now trades for over $12,900 (as of this writing). If you remember, a single Bitcoin traded at close to $20,000 in December 2017, which makes it easy to see why investors young and old remain eager to get involved regardless of the risk involved.

The reality is that, whether you want to admit it or not, many have gotten rich with cryptocurrency, and others still see it as a way to diversify their investment portfolio outside of traditional stocks and bonds. And if you have cryptocurrency for the purpose of building wealth or diversifying, you should know that cryptocurrency savings accounts can help boost your investment yield even more.

SOPA Images/LightRocket via Getty Images

What Is A Cryptocurrency Savings Account?

A cryptocurrency savings account works like it sounds like it would. With this type of account, you can deposit your cryptocurrency (or another asset in some cases) and earn a standard rate of return over time.

With a BlockFi cryptocurrency savings account, for example, your cryptocurrency can earn up to 8.6% APY, which accrues daily and is paid out on a monthly basis. However, your rate of return will vary depending on the type of cryptocurrency you have, whether thats Bitcoin, Ethereum, Litecoin, or something else. Depending on the type of crypto savings account you have, you may even be able to choose the type of cryptocurrency your interest is paid in.

You may be wondering how these accounts earn money, and thats easy to understand. Like other financial institutions, companies that offer cryptocurrency savings accounts usually loan out your cryptocurrency to other investors. In the case of BlockFi, they say they generate interest on assets held in interest accounts by lending them to trusted institutional and corporate borrowers.

At the end of the day, the purpose of cryptocurrency savings accounts is helping investors earn money on their asset while they hold it. That sounds good in theory, but its a little risky in practice.

Crypto Savings Accounts: What To Watch Out For

The first thing to know about cryptocurrency savings accounts, which you probably know already, is that cryptocurrency in general can be incredibly volatile. Since youre investing with cryptocurrency and your returns will also be in cryptocurrency in most cases, theres a chance your initial investment and returns will be wiped out if the value of your asset drops.

Another major downside with cryptocurrency savings accounts is the fact that you cannot just take your money out when you want. Where you can withdraw money fee-free from a traditional savings account up to six times per month, cryptocurrency savings accounts have their own rules and may not make it easy to access your money at the drop of a hat.

Further, cryptocurrency savings accounts (and crypto wallets for that matter) require you to give up access to your keys. This is based on the fact that your crypto must be made available to lend to investors, but a lot of cryptocurrency investors are not comfortable with this at all. As if that wasnt bad enough, cryptocurrency savings accounts are not FDIC-insured. This means that, if the cryptocurrency savings account provider goes under, theres no guarantee youll get any of your assets back.

Finally, you should know that many cryptocurrency savings accounts pay simple interest only, which means your deposits will not be able to build compound interest over time. The high APY you can achieve may still be attractive and worth pursuing, but you should know this going in.

Are Cryptocurrency Savings Accounts Worth It?

Once you know that cryptocurrency savings accounts arent as safe as traditional savings accounts, its up to you to decide if the risk is worth the reward. If youre a crypto investor already, then youre probably okay with a certain amount of excitement and risk along the way.

On a personal level, I see value in cryptocurrency savings accounts since lets face it there arent a lot of places to earn a 8% yield on your savings right now. You could achieve that return with a cryptocurrency savings account, and if all goes well, the value of your asset could also grow in the meantime.

Many of the best cryptocurrency savings accounts also come with some pretty attractive terms for their accounts. With BlockFi, for example, there arent any account minimums. This makes it easy for anyone with even a small amount of crypto to get started.

With Crypto.com, on the other hand, you can earn some of the highest returns on the market, yet small time investors with low account balances arent eligible for the best returns. Youll also get paid in the same cryptocurrency you deposit, and the interest is paid out on a weekly basis.

Then theres Linus, which lets you deposit U.S. dollars and earn interest in U.S. dollars. That sounds good for sure, but there are notable details in the fine print. With this account, they are lending out your money to people who are buying Ethereum, so the future of your returns hinges on the future value of this cryptocurrency.

The Bottom Line

If youre a crypto investor and you want the chance to earn a return on your investment while you hold it, then cryptocurrency savings accounts may be exactly what you need. There are lots of cryptocurrency savings accounts out there, so take the time to compare options before you sign up for one. Fees, barriers to entry, and the way you earn interest can vary dramatically, as well as the type of assets you need to get started.

Then again, these accounts arent for everyone, and theyre actually a really poor option if you need a place to store your emergency fund. Before you consider one of these accounts, its smart to think over the pros and cons and the risk involved. The chance at a return of 8% or more could well worth the risk, but you should go into the situation with your eyes wide open.

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Cryptocurrency Savings Accounts: Will This New Trend Help You Boost Earnings? - Forbes

Data Projects the Cryptocurrency Market Size And Forecast (2020-2026)| With Post Impact Of Covid-19 By Top Leading Players- Netcoins Holdings…

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Data Projects the Cryptocurrency Market Size And Forecast (2020-2026)| With Post Impact Of Covid-19 By Top Leading Players- Netcoins Holdings...

Cryptocurrency Market is Expected to Grow at an active CAGR by Forecast to 2028 – TechnoWeekly

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Cryptocurrency Market is Expected to Grow at an active CAGR by Forecast to 2028 - TechnoWeekly

Meet Brock Pierce, the Drug-Legalizing Cryptocurrency Entrepreneur on the Presidential Ballot in 16 States – Reason

Odds are you've heard about the nontraditional presidential candidacy of a certain Kanye West. Chances are decent, too, that you may recall the late-breaking run last time around by independent ex-CIA agent Evan McMullin.

But what if I told you that there was a 2020 candidate on more ballots than either the rapper or the Mormon, who also happened to be a fiscally hawkish cryptocurrency entrepreneur whose policy page begins with "Re-legalizing cannabis" and ends with "Your body is yours"?

Meet Brock Pierce, one of the more unusual characters to ever make it on the presidential ballot of 16 states. Pierce in his four decades on the planet has been a child actor (The Mighty Ducks), teenaged dot-com cautionary tale (at the notorious Digital Entertainment Network), online gaming pioneer, and founder of the cryptocurrency Tether. Controversy has followed him at every step, including during his 17 weeks as White House aspirant. (See this July interview with Forbes for Pierce's responses to several of the accusations.)

"I obviously identify with and resonate with and connect with my libertarian brothers and sisters on so many levels," Pierce told me in a phone interview Saturday. And yet, like Unity 2020's Bret Weinstein (with whom Pierce says he's had several conversations), the independent believes our current political crisis is grave enough ("we're probably going to have another wave of riots, potentially civil war, economic sort of carnage," he says) that all pre-existing third parties, as well as millions of disgruntled Democrats and Republicans, should assemble into a cross-partisan movement based more on values and integrity than tribal loyalty and narrow ideology.

Pierce, to be sure, also favors policies libertarians might find less congenial, such as a Universal Earned Income and re-writing Section 230 of the Communications Decency Act.

Regardless, he vows, this is only the beginning: "I think by November 5, I'm going to announce that I've already got 35 to 40 states [ballot access] already done" for 2024, he says. This may be the first time you've heard of Brock Pierce, but he swears it won't be the last.

The following is an edited version of our conversation.

---

Reason: Why the hell are you running for president, Brock Pierce?

Pierce: I can summarize it in one word: love.

Reason: Wow.

Pierce: Love for this country. Love for the American people at a time where we need love and unity. These United States feel very much like the divided states right now. We're divided politically, economically, racially. We face very real existential threats environmentally, technologically, arguably pandemically. Conflicts potentially with other nation-states. We have to find a path to unity, we need visionary leadership that has their finger on the pulse regarding things like technology, fiscal policy, the list goes on.

Reason: You joined us in July, right? Why so kind of late in the scheme of things, or what wasthe triggering mechanism that caused you to jump in in July, as opposed to July of the previous year?

Pierce: Well, I'm an independent candidate, and so July 4 is the day that I announced. An auspicious day for an independent candidate!

I turn 40 in two weeks, and so I am laying the foundation and the groundwork for a presidential run in 2024. I'll have been running for essentially four and a half years.

Reason: I see. So look, I write for a libertarian magazine, we're really disproportionately into stuff like blockchains, like ending the war on drugs, legalizing marijuana, balancing the budget. You've got all of those things checked off, and in fact, they are prominent in your emphases. Why not take a run at the Libertarian Party, which actually has ballot access in 50 states?

Pierce: I obviously identify with and resonate with and connect with my libertarian brothers and sisters on so many levels. The thing that I think needs to happen though is, we have to find a way of uniting the third parties. The last third-party candidate to be elected president was Abraham Lincoln. And Abraham Lincoln was able to unite the third parties by creating a government of rivals, you know, divided we fall, united we stand. Clearly we need to bring on the libertarian community. We gotta like Voltron with all of these groups, because we are bigger, the independents are bigger, than the Republicans, the independents are bigger than the Democrats. But we're consistently divided. And so I clearly intend to speak to and connect with libertarians.

In terms of 50-state ballot access, I've got that solved already. I was able to do 16 states, and could have done 25 at least, and that's starting on July 4. It took the Libertarian Party probably a couple of decades to figure out how to do it; I've got it figured out in six months. It's not that hard.

Reason: What are the big priorities, or things that you think need to be changed, that your independent candidacy or presidency is uniquely poised to address or affect?

Pierce: Well, I think part of it is how we measure and define our success. What is our aim as a nation? If you don't have an aim or a vision, you're going to wander aimlessly. And so, how do we create a unified vision as a country?

One of the things I like to talk about is, the way that we've been measuring our success historically as a nation has been by growth, or GDP. The problem with growth is it assumes that we have infinite resources, which we've known for quite a while we don't have. It also doesn't differentiate between positive and negative growth, and we also have a lot of crony capitalism, right? And so I think how we measure and define our success is a conversation that needs to be had.

The founders of this country had a wonderful intention for us, which was "life, liberty, and the pursuit of happiness." And so here's an idea that I propose: What if we started to measure our success by life expectancy? Did you know that life expectancy in this country has been in decline the last few years, despite all the advancements in medicine, science, and technology? What if we started to measure our success by life? Policy and everything would start to change, and we'd start to have real wealth, which is our individual health.

What if we started to define and measure our success as a nation by our liberty? We are supposed to be the Land of the Free, after all. But we have more people in prison than any other country in the world, in total and per capita. It doesn't sound like liberty is the goal. I believe in law and order; I think it's a foundation of a well-functioning society. But it's meant to protect and serve. Our police departments are arresting more people to get a bigger budget to hire more cops to arrest more people to get a bigger budget to hire.It's growth, it's just infinite growth, it's blind growth, it's not mindful growth, it's not thoughtful growth. And so, what if we started to measure our success by liberty?

And then, of course, happiness. There's already countries around the world that are measuring their success by happiness. So how do we upgrade the operating system of the United States? How do we define and measure our success? Because growth is not going to work anymore. So that's just one concept.

Another thing is, let's talk about the U.S. dollar. The U.S. dollar is the foundation of this nation, the foundation of this nation's economy. If something negative were to happen to the dollar, it would have very material adverse effects on all of our lives, all of our businesses, and all of our institutions. And it is at risk because of our national debt, because of our fiscal policy. Did you know that 22 percent of all dollars in existence were created this year?

Reason: Wow, I did not.

Pierce: I mean, that's a frightening number, isn't it? [The dollar] is at risk because of the things that we're doing here domestically that are eroding faith, trust, and confidence in it. And it's also at risk because of external threats.

One of the things I did is I created the U.S. digital dollarin 2014, which is doing $10 trillion a year in transactional volume. Governments around the world are using that framework to enhance their currency with technology. The Chinese government is years ahead of everyone else with their new Chinese digital Wuan. We don't even talk about fiscal policy in our election. I mean, these things matter, and they're not being discussed.

Technology itself beyond just the dollar is also We know technology is changing the world, and it's doing so at an accelerated pace. Our technology leaders [just] testified before our elected officials, I mean, the questions they're asking are embarrassing. At a time where the impact of technology is very real and technology is a tool, it is not good or bad, it's how we use it will determine the impact it has. I mean, look at The Social Dilemma on Netflix, and how technology is impacting our democracy. The potential risks to free speech and the censorship that's starting to happen. Which is not new, it just is becoming visible, and the whole country at leastis starting to see it.

Now with artificial intelligence, automation, roboticsI mean, the landscape of work is going to be changing rapidly. There are three and a half million truck drivers in this country, then add [the drivers for] Uber, Lyft, and taxis. This is not science fiction: Driverless cars, driverless trucks, they're on the road already over the course of the next four to eight years. Then we're talking about tens of millions of jobs that are going to disappear because they've been replaced by technology. We need leadership, visionary leadership with the foresight to navigate the road ahead with their finger on the pulse.

I continue back to the war on drugs: Yes, we need to end that. Let's re-legalize nature. When did we outlaw nature to begin with and why? Oh yeah, it was for plastic, cotton, and paper. So we outlawed nature because our new products couldn't compete with hemp. I think it's important to do that. Let's end this war on drugs, let's end locking people up in prison for victimless crimes, for cannabis-related things, and so forth. The answer for drug addiction isn't locking people up in cages at great expense to the American people. This is a social issue, a mental health issue. Let's actually help people help themselves to live a more prosperous life.

Reason: Silicon Valley companies [are] being hauled in front of Congress. It's now kind of a bipartisan agreement, which is usually a scary moment, to rewrite Section 230 of the Communications Decency Act. Where do you stand on that narrow question of, should that be rewritten in some way to affect the behavior of the Silicon Valley giants?

Pierce: I think the answer is yes. You're either a platform or a publisher. As a platform, you don't have liability because you are permitting free speech. The moment you choose to be a publisher and censor, then you become liable. You can't have your cake and eat it, too, and define what you are. If you want to be a platform, be a platform; if you want to be a publisher, be a publisher. These are companies that have that choice. You just can't have both.

Reason: We have a comments section. Are we liable for every damn fool thing our commenters say, under your vision?

Pierce: Now, yeah, we're getting further narrowI mean, this is back to publisher or platform.

Reason: I mean, we're a publisher that allows people

Pierce: That's tier two of the question. Tier one is, are you censoring speech as a social media platform? Or as a publisher, do you have comments sections? I think that's a secondary issue. I think the primary issue is as the platforms, are they censoring major speech? When we're getting into the nitty-gritty details of your comments section, I think that's a lesser issue, but I see the point that you're making.

Reason: It's just that the platform-publisher distinction can be a gray area, and when you increase the legal

Pierce: Agreed, and I think they're two very different issues. One is the comment sections and what your users are saying. Another is literally manipulating what an entire world, the nation, sees. I don't know if you saw the leaked Google video where you had the senior Google executives saying that "we're just going to make it so that conservative opinions are not seen by anyone." I mean, they're very different issues but they fall into the same vein.

Reason: Talking about the truckers who are going to be replaced by automated drivingthis gets into some Andrew Yangism. He had the Universal Basic Income idea. You have the Universal Earned Income. Talk about that a little bit.

Pierce: So if we have tens of millions of jobs that are going to be disappearing because of technologywhich doesn't need to be a bad thing; I get up and I live to work, I live to serve. But a lot of people work to live or to survive.We can't have tens of millions of people desperate. If tens of millions of people are desperate to survive, the pitchforks come out, so we have to find a solution to give people the necessary safety net to become re-skilled, to retrain, to find other ways to be productive members of society.

I think Universal Earned Income is the answer, similar to Universal Basic Income, except for there's an earned component. How do you earn it? Is it by voting? Is it by being an American citizen? Is it you make your first dollar and then you just proceed the rest? These are the questions in the conversation that I wish to continue to have with all those parties that are interested in doing it.

Reason: So you are talking about unity, and getting people on the same page. Do you think in these times when we have a lot of polarized, tribal rhetorical warfare with one another, in which, for instance, Hollywood and Silicon Valley are seen as being definitely on one side of this issuethat's kind of where you come from! Are you the person to convince people who are skeptical of those major centers of power to rally around an independent flag?

Pierce: I hope so. I mean, my message resonates with people on the far left and the far right, because I think I'm like a majority of Americans: people that want to live and let live, to take responsibility for our actions. I think the majority of us are in the middle. We've just been divided through these very polarized two limited choices that we have. You're like, "Well, I don't like that, I'm against that. Therefore, I'm going to vote for this." I think as a nation, it's less about what we're against. We have to get out of that mindset and start to think about what we're for. What do we stand for?

And I think that's a big part of the problem. I mean like 70 percent of Democrats and Republicans are unhappy with their choices. So I think this country is going to stay in this perpetual loop until we start to act according to our conscience, to vote our conscience, not to vote out of fear, but to vote for what we believe in. I think that we need more choices. Hence, I'm presenting another one here now.

Reason: You started this conversation with the word "love." On your website, one of your five major areas is "Regeneration." Am I wrong to detect a little bit of overlap with Marianne Williamson here? There's a spiritual component of yours that people might associate with a more kind of New Age uplift.

Pierce: You could call it "spirituality," if that's what resonates with you. I'm a very spiritual person. But it's also all very logical. It's based upon common sense, very logical sensible ideas. I'm a fan of Marianne Williamson and Andrew Yang. And if the things that I'm doing trigger in a positive way those associations, I'm glad to hear it. You're the first person to have said that.

Reason: Speaking of weird associations, or associations regardless of what one thinks about them, according to the very well-informed website Wikipedia, you did business with Steve Bannon at one point, 12, 13 years ago.

Pierce: Steve worked for me in my mid-20s.

Reason: What is your reflection on his role in the American political conversation since?

Pierce: Well, when he worked for me, he was still an investment banker. And so, he was my deal guy that executed my financings and things of that nature. So his foray into the political realm occurred after his tenure of working for me. It's been interesting to seeI guess inspiring in the sense that I saw someone basically jump into politics and fairly quickly ascend all the way through the ranks almost as far as one could go. But Steve and I are obviously very different people.

Reason: Building on that, you're running against Donald Trump and Joe Biden in the year 2020. What is your biggest criticism of each?

Pierce: I tend not to get into criticisms of others. I mean, there's so much of that happening right now. If you turn on your television, you open up anything, it's pretty much all negative sort of messaging towards the two major-party candidates. So I don't really spend time on that.

I'd say that the big difference is that I've got a strong technology background. I've been on the forefront of innovation for a very long time. I'm half of Joe Biden's age, like, exactly: I'm 39; he's 78. And so I think that we're going to need younger leadership over the course of this next decade. Most of our leadership historically have been in their 40s and 50s; typically, our presidents are not in their 60s, certainly not in their 70s, ever. The oldest president ever elected in U.S. history in their first term was Donald Trump at 70. This is all new territory, at a time where I think we need people that are more in touch with the present reality.

Reason: What do you worry is going to happen in the next four years regardless of who wins?

Pierce: It's going to be a rough road. I wish I could say otherwise. The ripple effects of shutting down the U.S. economy, the impact on the American Dream, unemployment, the 22 percent more dollarsand that's going to be a lot more over the next year. We're in for a lot of trouble and a lot of polarization. Just the next week aloneI mean, we're probably going to have another wave of riots, potentially civil war, economic sort of carnage.

That's why I'm running for office. I think we're doomed if we don't do something different, and I'm not the type of person that just sits on the sidelines; I'm going to do everything I can to fix it. That just means delivering a message and sharing vision and ideas. I don't care who implements it. If these things get implemented and everybody wins, that's good enough for me.

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Meet Brock Pierce, the Drug-Legalizing Cryptocurrency Entrepreneur on the Presidential Ballot in 16 States - Reason

PayPal, Venmo to Offer and Accept Cryptocurrency for All Online Payments – Niche Gamer

PayPal has announced theyre going to start accepting various cryptocurrencies as a form of payment and money for the first time, allowing their users to buy, store, and sell popular cryptocurrencies. The platform holder is expected to roll out support for crypto later this year.

This makes PayPal the first major company in the financial tech sector to officially adopt virtual currencies. Compared to their competitor, Square, who only support bitcoin, PayPal will support bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

Furthermore, PayPal will even extend support for cryptocurrencies on their money-sending subsidiary, Venmo, as well as international markets beginning early next year. This fall, PayPal is starting with the rollout of cryptocurrency support to their US customers in the coming weeks.

The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly, PayPal CEO Dan Schulman said in a statement. Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange.

Schulman added that PayPal is eager to work with central banks and regulators around the world in supporting cryptocurrency.Reuters noted that transactions on PayPal will be settled using traditional fiat currency, meaning merchants wont have to transfer digital currency into dollars after a transaction.

There is one catch, however, as you can only hold the cryptocurrencies you buy on PayPal in your PayPal account, as confirmed in theirFAQ. They also add that crypto in your account cannot be transferred to other accounts on or off PayPal. This is an odd stance when compared to popular crypto exchanges, which let you sell or transfer crypto between accounts and other platforms.

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US Regulators Assert Broad Jurisdiction Over Offshore Cryptocurrency Trading Platforms – Finance and Banking – Canada – Mondaq News Alerts

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Recent actions filed in early October 2020 by the U.S.Department of Justice (the "DOJ") and the CommodityFutures Trading Commission (the "CFTC") against BitMEX, alarge cryptocurrency derivatives exchange incorporated in theSeychelles, highlight how virtual asset exchange platforms can besubject to the law and potential enforcement action in multiplejurisdictions based on the locations of their customers. Shortlyafter the filing of these actions, the DOJ published itsCryptocurrency Enforcement Framework, which emphasized that the DOJasserted jurisdiction over virtual asset transactions based notonly on the location of customers but also contacts with"financial, data storage, or other computer systems within theUnited States". These broad assertions of jurisdiction by U.S.prosecutors and regulators, and similar assertions of jurisdictionover foreign trading platforms by Canadian regulators, are acaution to virtual asset exchange platforms to carefully considerthe steps taken to limit their contact with jurisdictions in whichthey do not wish to do business.

Since September 2015, the CFTC has taken the position thatBitcoin and other virtual currencies are commodities under theCommodity Exchange Act. Accordingly, it is the CFTC'sposition that entities that offer leveraged retail transactions,futures, options or swaps for commodities are required to registerwith the CFTC as a future commission merchant (a"Merchant") as well as comply with theBank Secrecy Act, which requires Merchants to establish,implement and maintain an adequate anti-money laundering("AML") program. As part of the AML program, a Merchantis required to implement a written "know your client"("KYC") program that includes risk-based procedures forverifying the identity of its clients. At a minimum, a Merchantmust collect the name, date of birth, address and governmentidentification number of each client prior to their opening anaccount on the Merchant's platform.

In light of the position taken by the CFTC in 2015, BitMEXannounced it was withdrawing from the U.S. market and implementedan Internet Protocol ("IP") address check, also known as"geo-blocking", designed to block U.S. residents fromaccessing the BitMEX trading platform. BitMEX did not,however, implement a KYC program for all of its clients.

On October 1, 2020, the DOJ filed criminal charges (the "DOJAction") accusing four executives of BitMEX of evading rulesdesigned to stop money laundering. That same day, the CFTCannounced that it had filed a related civil enforcement action (the "CFTCAction" together with the DOJ Action, the "BitMEXActions") against five entities and three individuals that ownand operate BitMEX, alleging that they had operated an unregisteredtrading platform in violation of multiple CFTC regulations,including failing to implement required anti-money launderingprocedures.

The BitMEX Actions allege that, since BitMEX's launch inNovember 2014, BitMEX has actively pursued and served thousands ofcustomers located in the U.S., even after its announced withdrawalfrom the U.S. market in 2015. In particular, the DOJ alleges thatBitMEX or its representatives:

Notably, the DOJ alleges that BitMEX's geo-blocking of U.S.IP addresses was deficient and failed to prevent U.S. persons fromtrading on the BitMEX platform. In particular, the DOJ allegesBitMEX failed to implement measures to restrict access to itsplatforms by clients using a virtual private network("VPN"), which can beused to mask the location of a computer's IP address andthereby circumvent geo-blocking.

Based on these allegations, the DOJ and the CFTC allege thatBitMEX failed to register with the CFTC as a Merchant as requiredby the Commodities Exchange Act and knowingly operated itsplatform in violation of multiple CFTC regulations and the BankSecrecy Act, including applicable AML and KYCrequirements.

The BitMEX Actions confirm the willingness of U.S. regulators toassert jurisdiction over virtual asset exchange platforms operatingfrom outside the United States but allegedly with customers orother contacts within the U.S.

As well, shortly after the DOJ Action was filed, the DOJpublished its Cryptocurrency Enforcement Framework, a reportsummarizing its cryptocurrency-related enforcement work to date. Inthis report, the DOJ emphasized its position that it has"robust authority" to prosecute virtual asset serviceproviders and other entities that violate U.S. laws even when theyare not located inside the U.S. The Report asserts that"[w]here virtual asset transactions touch financial, datastorage, or other computer systems within the United States, theDepartment generally has jurisdiction to prosecute the actors whodirect or conduct those transactions."

Like U.S. regulators and prosecutors, Canadian regulators alsotake the view that they have jurisdiction over online securitiestrading platforms operated from outside Canada but with Canadianclients. For example, in September 2018, the Ontario SecuritiesCommission (the "OSC") reached a settlement[PDF] with eToro (Europe)Limited ("eToro"), a Cyprus-based company that hadengaged in online trading of securities or derivatives with Ontarioresidents, including contracts for difference based on exposure tounderlying assets which included cryptocurrencies and stocks. eTorowas not a reporting issuer in Ontario, nor was it registered toengage in the business of trading in accordance with Ontariosecurities law. Nonetheless eToro operated approximately 2,500accounts for Ontario residents between 2008 and 2017. The OSCsettled an enforcement action with eToro based on, among otherterms, a CAD$550,000 administrative penalty, disgorgement of nearlyUSD$2 million, and an undertaking to return funds to Ontarioaccountholders.

Online virtual asset exchange platforms that do not intend toaccept U.S. and Canadian residents as clients nonetheless need tobe careful about inadvertent non-compliance with U.S. or Canadiansecurities, derivatives, money transmission or other laws. At aminimum, platforms need to consider adequate measures to preventresidents from these jurisdictions from accessing their services,but as the DOJ's Cryptocurrency Enforcement Framework notes,prosecutors or regulators may assert jurisdiction based onfinancial or technical contacts. Regulators appear to be highlyskeptical of geo-blocking of IP addresses, which suggests that morerobust KYC processes should be considered to exclude residents fromcertain jurisdictions.

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

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US Regulators Assert Broad Jurisdiction Over Offshore Cryptocurrency Trading Platforms - Finance and Banking - Canada - Mondaq News Alerts

Cryptocurrency in Oil and Gas Market Share Forecast by Application 2020 Analysis and Forecasts to 2026 – Aerospace Journal

It is our aim to provide our readers with report for Cryptocurrency in Oil and Gas Market, which examines the industry during the period 2020 2026. One goal is to present deeper insight into this line of business in this document. The first part of the report focuses on providing the industry definition for the product or service under focus in the Cryptocurrency in Oil and Gas Market report. Next, the document will study the factors responsible for hindering and enhancing growth in the industry. After covering various areas of interest in the industry, the report aims to provide how the Cryptocurrency in Oil and Gas Market will grow during the forecast period.

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TheCryptocurrency in Oil and Gas Marketreport between the years 2020 2026 will highlight the current value of the industry. At the same time, there is also an estimate of how much this line of business will be worth at the end of the forecast period. As it is our goal to maintain high levels of accuracy at all times, we will take a look at the CAGR of the Cryptocurrency in Oil and Gas Market. We make sure that all the information available in this report has excellent levels of readability. One way we achieve this target is by Cryptocurrency in Oil and Gas Market segmentation. Going through the report for 2020 2026 will bring our readers up-to-date regarding this industry.

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As discussed earlier, there is segmentation in theCryptocurrency in Oil and Gas Marketreport, to improve the accuracy and make it easier to collect data. The categories which are the dividing factors in the industry are distribution channels, application, and product or service type. With this level of segmentation, it becomes easier to analyze and understand the Cryptocurrency in Oil and Gas Market. At the same time, there is emphasis on which type of consumers become the customers in this industry. When it comes to distribution channels, the Cryptocurrency in Oil and Gas Market report looks at the different techniques of circulation of the product or service.

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In this part of theCryptocurrency in Oil and Gas Marketreport, we will be taking a look at the geographical areas and the role they play in contributing to the growth of this line of business. The areas of interest in this document are as follows Middle East and Africa, South and North America, Europe, and Asia Pacific. From the Cryptocurrency in Oil and Gas Market report, it becomes clear which region is the largest contributor.

Latest Industry News

From thisCryptocurrency in Oil and Gas Marketreport, the reader will also get to learn about the latest developments in the industry. The reason is that these products or services have the potential to disrupt this line of business. If there is information about company acquisitions or mergers, this information will also be available in this portion of the Cryptocurrency in Oil and Gas Market report.

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Cryptocurrency in Oil and Gas Market Share Forecast by Application 2020 Analysis and Forecasts to 2026 - Aerospace Journal

Global Cryptocurrency and Blockchain Market 2020 Impact of COVID-19, Future Growth Analysis and Challenges – The Think Curiouser

The global Cryptocurrency and Blockchain was valued at USD xx Million in 2020. The Cryptocurrency and Blockchain market research study provides itsusers with the market size on the basis of different segments and regions. In addition, the major contributing market participants in the global Cryptocurrency and Blockchain market along with their product/service offerings, revenue, and gross margin is provided under this research report. The research report provides also provides readers the actual analysis of the last four to five years along with forecast till 2025.

Conditions in many of the regions are still bad but some of the regions have eased down some of their COVID-19 restrictions. In many of the regions, there are some countries that have gained some sort of control in the number of COVID-19 cases and have given slight permissions to start the businesses. But there are still fears in some of the countries such as South Korea and northeast China regarding the second wave of the coronavirus infections. The local governments in the respective regions where the number of COVID-19 cases has decreased have imposed strict protocols for the market players regarding social distancing and hygiene. Amidst this the Cryptocurrency and Blockchain

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The report also offers product overviews and detailed interdiction of theglobal Cryptocurrency and Blockchain market. Furthermore, the report will also provide its users with the analysis of market drivers which are expected to support the growth of the Cryptocurrency and Blockchain market in years to come. The report also illustrates the major restraining factors which lead to adversely impact the growth of the market in the analysis period. The opportunities assessment from the future perspective to take strategic decisions is covered in the report. Technology, regulatory landscape, Porters Five Forces Analysis, PESTEL analysis, SWOT analysis, and other analyses of the market are covered in the research.

Cryptocurrency and Blockchain market players included in the reports are:Intel Corporation, Microsoft Corporation, NVIDIA Corporation, BitFury Group Limited, Alphapoint Corporation, Advanced Micro Devices, Xilinx, BitGo, Ripple, BTL Group Ltd.

By Type the Cryptocurrency and Blockchain market is segmented into:Bitcoin, Ethereum, RippleLitecoin, Dashcoin, Others

By Application the Cryptocurrency and Blockchain market is segmented into:Transaction, Investment, Others

Following are the major regions considered for the analysis of the Cryptocurrency and Blockchain market:North America (United States, Canada)Europe (Germany, France, UK, Italy, Russia, Spain)Asia Pacific (China, Japan, Korea, India, Australia, New Zealand)Middle East & Africa (Middle East, Africa)Latin America (Mexico, Brazil, C. America, Chile, Peru, Colombia)

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Chapter 1:The World Market Research Report Cryptocurrency and Blockchain Help Understand Crucial Information About The Given Market.Chapter 2:The report provides a detailed study on each actor having a major impact on theglobal market Cryptocurrency and Blockchain, such as company profiles, the latest technological advances of market players and the product profile of the player currently available in the market, as well as the regions in which they operate mainly.Chapter 3:It helps to understand the key product segments and their future on the global market Cryptocurrency and Blockchain. It provides strategic solutions and recommendations in key business sectors based on market estimates.Chapter 4:The report also presents an eight-year forecast survey based on expected market growth.

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US Department of Justice Releases Cryptocurrency Enforcement Framework Avowing Authority to Prosecute Individuals Located Inside and Outside of the US…

Introduction

On October 8, 2020, the U.S. Department of Justice (DOJ) released a Cryptocurrency Enforcement Framework (the Framework) authored by the Attorney Generals Cyber Digital Task Force. The Framework is the second detailed report authored by the Cyber-Digital Task Force addressing cryptocurrencies. The Framework provides a self-described comprehensive overview of what the DOJ considers to be emerging threats and enforcement challenges associated with cryptocurrencies. The Framework also details the collaboration that the Department of Justice has built with regulatory and enforcement partners both within the U.S. government and around the world. Further, the Framework outlines the Departments response strategies.

The Framework insinuates some skepticism about the cryptocurrency industry. While, the Framework mentions some of the potential or claimed legitimate uses of cryptocurrencies as avowed by proponents or advocates of cryptocurrencies, the Framework sets forth a more expansive discussion of the illegitimate uses of cryptocurrencies. Above all else, the Framework makes clear the DOJs intent to monitor and prosecute cryptocurrency-related crimes. This point is underscored by the October 1 indictment of founders and executives of off-shore cryptocurrency derivatives exchange, Bitmex, for violations of the U.S. Bank Secrecy Act, and the October 15 indictment of 20 members of the transnational criminal organization, QQAAZZ, involved in a money-laundering scheme that incorporated cryptocurrencies.

Who Should Pay Attention to the Framework

Within the Framework, the DOJ sets forth business models and activities that may facilitate criminal activities:

All of these business must consider, among other issues, licensing and registration requirements, and ensure compliance with anti-money laundering (AML) and know your customer (KYC) obligations. The Framework also specifically calls out cryptocurrencies Monero, Zcash and Dash, avowing that use of AECs is a high risk activity that is indicative of possible criminal conduct. Similarly, the Framework emphasizes that tumbler, mixing and chain hoping activities pose a high risk of liability for money laundering because they are designed specifically to conceal or disguise the nature, the location, the source, the ownership, or the control of a financial transaction.

The DOJ asserts that it has robust authority to prosecute [virtual asset service providers] and other entities and individuals that violate U.S. law even when they are not located inside the United States.

Crimes with Cryptocurrency

The DOJ stresses that criminals leverage cryptocurrencies for a variety of unsavory practices. The Framework identifies three different categories of criminal behavior that exploit the advantages of cryptocurrencies and the cryptocurrency marketplace:

What to Expect from the DOJ

The Framework sets forth in broad terms what the public can expect from the DOJ.

First, the DOJ emphasizes that it will aggressively conduct investigations and prosecutions of individuals who use cryptocurrencies to commit, facilitate or assist in concealing crimes. Exchanges currently in operation should expect to receive requests from the authorities for transaction records or other types of data. It is critical that exchanges have a functioning and up-to-date compliance program in order to facilitate these requests and also demonstrate active due diligence measures. Again, the DOJ avows broad authority to prosecute individuals and businesses located outside the U.S.

Second, the DOJ will be training law enforcement about cryptocurrency technology. The DOJ states that it has already dedicated resources to existing initiatives and is considering proposals to legislatures to close gaps in enforcement authority.

Third, the DOJ will also increase cooperation with U.S. state-level and federal law enforcement and regulatory agencies such as the FBI, Financial Crimes Enforcement Network, the Securities Exchange Commission, the Internal Revenue Service, and the Office of Foreign Assets Control. The DOJ will also continue to pursue additional partnerships with non-U.S. law enforcement and regulatory agencies. These partnerships will facilitate sharing of information as well as support regulatory measures that promote adoption of consistent regulations across jurisdictions in order to prevent criminals from arbitraging inconsistent regulatory schemes. The DOJ is intent on repeating recent successes with international coalitions that traced bitcoin transactions leading to the recent takedown of the largest child abuse material website in the world and arrests of over 300 users.

What Should Operators of Crypto-Related Businesses Do?

The Framework is a clear expression to the world that the DOJ is focused on cryptocurrencies-related crimes and, through its various partnerships, will investigate and seek enforcement actions regardless of where an individual or company is based. Individuals and companies that engage in cryptocurrency-related businesses or use AECs (e.g., Monero, Zcash and Dash), tumblers or mixerswherever they are locatedmust assess the extent to which their activities involve U.S.-based customers or otherwise fall under the purview of U.S. federal and state-level laws and regulations. If a U.S. nexus exists, these individuals and companies need to consider whether they are obliged to register or obtain a license for their activities. Furthermore, implementation and maintenance of proper AML programs may be necessary among other compliance obligations. To the extent that individuals and companies have not fulfilled their obligations, they should act swiftly to rectify those deficiencies. Ignorance of these obligations will not be an acceptable defense.

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