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............................... fiatleak - watch the world's currencies flow into BTC in realtime is back!
Interesting
:):)
Is that real? I mean how could they (on that site) know exact data?
Somebody in the US is buying 7 or 8 bitcoins in a same time period all the time
Talking about staying under the radar
US Treasury's Financial Crimes Enforcement Network "Reaching Out" To Bitcoin Business
Recently some of the more naive, not to mention top-ticking, financial commentators assumed that just because US regulators had not snapped shut a trap surrounding Bitcoin and other digital currencies yet, that this state of blissful cohabitation would continue indefinitely. Unfortunately, as we warned back in March during the initial leg higher in BTC following the Cyprus deposit confiscations, the well-known "honeypot" strategy was meant to draw out as many digital currency fans and participants as possible - who after all were warned by none other than the ECB that the current regime will never adopt a parallel, and quite threatening monetary unit - only to see the regulatory and enforcement fist of the nation that (still) hosts the reserve currency slowly but surely start to clench around the binary currency.
Because, finally, after testing the ground long enough, the fist is starting to not only close but squeeze tight. And as Reuters reports, it is the U.S. Treasury Department's anti money-laundering unit that is now warning businesses linked to Bitcoin that they "may have to comply with federal law and regulation as money transmitters, a Treasury spokesman said. " Specifically, the Treasury's Financial Crimes Enforcement Network (FinCEN) has sent "industry outreach" letters to about a dozen firms, regarding potential anti-money laundering compliance obligations related to Bitcoin businesses, FinCEN spokesman Steve Hudak told Thomson Reuters' regulatory information service Compliance Complete.
What is interesting is that unlike in traditional cases of money laundering, where the law is cut and dry, in the case of digital currencies, nobody really knows what the Treasury's jurisdiction - if any - or the law is. Which is why FinCEN is not only treading lightly but effectively giving so-called offenders a warning in advance of potential future action.
According to Reuters, a legal expert with years of experience representing digital currency firms said FinCEN seemed to be establishing a new regulatory enforcement precedent by warning individual businesses of compliance obligations before taking action. "Is this setting a new standard that in the future if there are any questionable business models there will be notice given before any action is taken?" said Carol Van Cleef, a partner with the Washington law firm Patton Boggs LLP. In response, Hudak said the letters are an attempt at gathering information. He likened them to the letters that banks sometimes send to customers seeking information about the customer's transactions in an effort to determine whether suspect transactions are truly linked to illicit activity.
Actually no: this is not a standard, new or otherwise, but is merely meant to telegraph the authorities displeasure with ongoing digital monetary activities, with an intent of halting all major activity before an enforcement mandate is handed down.
read more
Somebody in the US is buying 7 or 8 bitcoins in a same time period all the time
Somebody slowly accumulating and then sell all at once. No wonder it is so volatile
Bitcoin is diving more and more (whoever is bying it is playing a dangerous game)
Bitcoin is diving more and more (whoever is bying it is playing a dangerous game)
Those are wild changes. You can lose 10% in a matter of seconds
Bitcoin Price Plummets After Chinese Exchange Bans Yuan Deposits
First there's the high, then there's the comedown.
The price of Bitcoin, which last month topped $1,200 on major exchanges, is now trading below $600, and China is to blame. Two weeks ago, China's central bank and various ministries issued a joint statement forbidding financial companies from processing Bitcoin-related transactions. Now BTC China, the world's largest Bitcoin trading platform by volume, has responded by ending its users' ability to fund their trading accounts with yuan, China's national currency.
BTC China broke the bad news in a message on Weibo, a Twitter-esque Chinese messaging service, according to The New York Times. It told users that while yuan deposits were being discontinued "for reasons we all know," the exchange would continue operating and Bitcoin deposits and yuan withdrawals would still be possible.
Over the past few months, China has become the world's largest Bitcoin market, a fact which China's government at first seemed to encourage. But it cracked down earlier this month, announcing that Bitcoin is not a legal currency and prohibiting financial firms and payment companies from buying or selling it, storing it or issuing Bitcoin-related financial products.
In the statement posted to its website on Dec. 5, the People's Bank of China said that "excessive speculation" in digital currencies could "harm the public interest." China is well known for strictly regulating the yuan, and government agencies appear to have taken the view that Bitcoin trading is speculation in the yuan by another means. However, people in China are still allowed to buy, sell and hold bitcoins as a commodity.
The restrictions have caused the value of Bitcoin worldwide to nosedive. At 12:21 p.m. Eastern time, the price of a bitcoin on BTC China was 3,135 yuan, or $516. On San Francisco-based Coinbase, which allows deposits and withdrawals in U.S. dollars from users' bank accounts, the price was somewhat higher at $575.
read more
When it all depends on China, that is no regular market. No wonder that there was a bubble. And now the bubble is on the way to disapear
but according to fiatleak, Cnina is getting large amounts of bitcoins still...
First there's the high, then there's the comedown.
The price of Bitcoin, which last month topped $1,200 on major exchanges, is now trading below $600, and China is to blame. Two weeks ago, China's central bank and various ministries issued a joint statement forbidding financial companies from processing Bitcoin-related transactions. Now BTC China, the world's largest Bitcoin trading platform by volume, has responded by ending its users' ability to fund their trading accounts with yuan, China's national currency.
BTC China broke the bad news in a message on Weibo, a Twitter-esque Chinese messaging service, according to The New York Times. It told users that while yuan deposits were being discontinued "for reasons we all know," the exchange would continue operating and Bitcoin deposits and yuan withdrawals would still be possible.
Over the past few months, China has become the world's largest Bitcoin market, a fact which China's government at first seemed to encourage. But it cracked down earlier this month, announcing that Bitcoin is not a legal currency and prohibiting financial firms and payment companies from buying or selling it, storing it or issuing Bitcoin-related financial products.
In the statement posted to its website on Dec. 5, the People's Bank of China said that "excessive speculation" in digital currencies could "harm the public interest." China is well known for strictly regulating the yuan, and government agencies appear to have taken the view that Bitcoin trading is speculation in the yuan by another means. However, people in China are still allowed to buy, sell and hold bitcoins as a commodity.
The restrictions have caused the value of Bitcoin worldwide to nosedive. At 12:21 p.m. Eastern time, the price of a bitcoin on BTC China was 3,135 yuan, or $516. On San Francisco-based Coinbase, which allows deposits and withdrawals in U.S. dollars from users' bank accounts, the price was somewhat higher at $575.
read more