Bitcoin finally retested 50 MA yesterday night, with price now currently settled at just below 10,900. While BTC hasn't broken through key resistance at around 10,900 - 11,000 yet, the last time BTC pushed past 50 MA, we saw price go from 9,100 to 11,400 in a week. If bullish momentum holds up throughout the weekend, the next range for BTC could be at 11,500 - 12,000. Invalidation of this small bullish run would be if price fails to hold above 50 MA and drops back down to 10,500.
Global market cap is at $344B, while BTC's market cap is at $201B.
The central bank of the Netherlands, De Nederlandsche Bank NV (DNB) has approved AMDAX DV to operate in the country. AMDAX BV is the first digital asset company to be given approval after the introduction of new set of regulations which made other crypto businesses close or leave the Netherlands. This will enable AMDAX to provide crypto services such as processing of crypto transactions and storage of cryptocurrencies to insitutions and individuals in the country.
Fintech firms in the Netherlands are required to abide by European Union regulations and the updated anti-money laundering laws, known as the 5th Anti-Money Laundering Directive (AMLD5).
William Barr, the US attorney general, published official guidelines for enforcing crypto laws. Cryptocurrency: An Enforcement Framework, as published by the US attorney's Cyber-Digital Task Force, "provides a comprehensive overview of the emerging threats and enforcement challenges associated with the increasing prevalence and use of cryptocurrency; details the important relationships that the Department of Justice has built with regulatory and enforcement partners both within the United States government and around the world; and outlines the Department's response strategies."
The report itself includes 83 pages of content on crypto, detailing crypto's 'legitimate' and 'illicit' uses, as well as asserting US jurisdiction over individuals whose crypto transactions interact with US-based servers, and the applicable regulating bodies. In the report's conclusion, it calls for stakeholders, from the private industry, to regulators, to individual crypto users, to "take steps to ensure cryptocurrency is not used as a platform for illegality."
Binance has set a new yearly high overtaking Huobi and OKEx to become the largest crypto derivatives exchange by volume. During the month of September, the exchange recorded $164.8B in volume, according to the latest report by UK-based data firm CryptoCompare. The report also included data of other top-tier exchanges: Huobi with $156.3B in volume, and OKEx with $155.7B. While BitMEX takes the fourth spot in the ranks with only $56.4B monthly volume for September. BitMEX was recently in hot water as its leaders were charged with failing to prevent money laundering and were forced to resign. The exchange has the largest monthly decrease at 30.7%.
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