I come bearing bad news. Bitcoin fell by almost two percent in an hour on the 13th of February as markets faced rejection after reaching higher levels above ten thousand five hundred US dollars, data from coin 360 and coin Telegraph market showed Bitcoin to the US dollar dropping suddenly by over 300 on It says Friday today's Thursday, hitting daily lows of ten thousand one hundred and fifty US dollars. A bounce had secured support slightly higher by press time, but volatility was conspicious. Conspicuous vicious kiss pick us as Bitcoin failed to crack 10500 resistance in the second time in a week, there's a little chart right there. So apparently the news is a Bitcoin was, I think, slightly above or hit 10500 or was just scratching the surface of it. They say it was rejected and a little dip right there and the price started going down. It says: Friday's losses coincided with the news of Thursday's. Losses coincided with the news that US Treasury the US Treasury would seek to enact new regulations governing crypto currencies here's. The actual article right here it says the US Treasury Department, financials crime enforcement network or fencin – is preparing to unveil new regulations around crypto currencies. This was said by Treasury secretary, Steve minuchin. Speaking during a hearing before the Senate financial committee, minuchin said FinCEN the nation's Financial Crimes watchdog is preparing to roll out some significant new requirements around crypto currencies, though he did not provide any further detail because they never do.
My Newton's explanation came in response to senator Maggie Hassan, who was asking how will the Treasury's proposed budget increase in monitoring suspicious cryptocurrency transactions in prosecuting tech, prosecuting terrorists and other criminal organizations, financing illicit activities with cryptocurrency Benson and the Treasury Department? More broadly are spending a lot of time on this minuchin said and was working with some of the US regulators on the issue. He did not name the specific regulators, I assume it's the SEC and CFTC and the Treasury Department's of Office of Foreign Assets Relief, DOE space. He said we want to make sure that technology moves forward, but on the other hand, we want to make sure that cryptocurrencies aren't used with the equivalent of old Swiss secret number bank accounts working backwards. For those of you who don't know, this is exactly what cryptocurrencies are going to be used for and what they're kind of being used for now. This is why we keep seeing a huge influx, or at least we did last year, the news that we kept on having over and over all the vault Iver ear, itch people who were buying up crypto currencies through the over the counter market, so it wasn't effectively Direct cryptocurrency markets they're buying it because in the future it is widely believed. If we have private transactions in a lot of the main crypto currency blockchains. What have you people will in essence be able to do, and I mean you kind of get where I'm going with that, but it's widely believed in the next 10 to 15 years.
This is exactly what a lot of the crypto currencies will be used for. The news that we have right now, at least at the time of me, making this video – is that the crypto currency market is down or Bitcoin, was rejected at 10500 because of this announcement from fencin, they don't really correlate. I think this news came out ours, multiple, multiple, multiple, multiple, multiple hours before the price drop actually happened. I assume it has more to do with Wales trying to push people out of the market so that they can accumulate more we've had negative news within the cryptocurrency space many other times, and it usually has not affected the prices of crypto currencies, especially not a drop. This dramatic, which we also saw about three four days ago, and then we were back up exactly where we were about eight hours later anyway. There was also some news floating around and I can't not that I can't vouch for it. I don't know the authenticity of it. It was talking about remember a couple of months ago. We had information that for the 2019 taxes, if you are from the US or in the US, what asked you if you had purchased crypto currencies, I saw something on a website yesterday. This is why I said I don't know the specifics of this. They were saying that, apparently on tax documents for 2019 they're going to ask you how much crypto you bought when you bought and how much it was when you bought it, did you buy it with cash? Did you buy with credit and have like a complete rundown of everything you did? I don't know how that's going to work out.
I will look into my crystal ball right now and probably tell you this entire thing: this entire watchdog, SEC, CFTC rules, regulations within the u.s., is going to be a cluster. You know the next word. I think, especially the other news that I don't have in here. As well, there are, there was, I think, one or two countries who had announced not their support for Manero, but that they were looking into using crypto currencies. Oh, I forgot exactly what the news was, but it came down to the fact that these are countries who are under sanctions from the US and the US was going to sanction them even more because they were planning on mining or using crypto currencies in the future. You won't be able to touch these countries. You can't tell other country I mean it kind of is what it is, but a lot of the stuff keeps coming from the top down, where I believe people who held control for a very long time won't be able to hold control. For I mean in the next 20 years, I see a dramatic shift happening or will have happened yeah because they keep putting cryptocurrency users in the same exact box as terrorist organizations, criminals and all this other stuff and they're gon na try and use that, as the Main idea as to why you can't transfer more than 500 in crypto per day, or why you can't do this, because what were the actual crime statistics? I saw something somewhere.
It said I think, out of all the crimes. Air quotes crimes that are happening with crypto currencies. I think it's, like 0.02 percent of all the crypto transactions that are happening around the world. So the fact that you would need to step on everyone else's neck or the maybe 500, to a thousand people around the world who are doing something terrible. Like I said, other countries who have figured out the the no taxation on crypto or the open mining. You can do whatever you wanted with crypto or they're, just simply not gon na hamper the innovation or the entire industry. I think these countries will be doing incredibly well in the future and we'll see III, give it by before Saturday we'll see if bitcoins price has recovered from this Oso dramatic drop right here. Next up the National Bank of Egypt or the nbe is now Ripple's newest client. The Bank plans to use the company's cross border payment technology to boost the flow of remittances in the country. According to a press release, the agreement makes the National Bank of Egypt, which is the country's largest state owned Bank, the first in the country to join ripple net and use blockchain technology. At a signing ceremony, Hisham okasha, chairman of the nbe, said that the partnership supports the bank's long term goal of building a thriving remittance business in the Gulf region. The Bank is also touting blockchains ability to limit errors in financial operations and allow users to immediately know the real balance of given transactions.
It says somewhere around here. There was no indication as to if they're going to be using XRP. I think the main takeaway is that ripple a company that's around five years old, has the National Bank of Egypt using their technology. Take it how you will they keep scoring these major partnerships, especially in this region of the world? I think they've partnered with a lot of the banks in the UAE, now the Bank of Egypt, all of India, etc, etc. It'S great news, no specific, XRP news if you will but um right, let's move on coin base. The largest cryptocurrency exchange in the United States is getting back into the business of lending money to traders joining a growing, a roster of venues providing leverage to help users juice investment returns with a weird sentence. The San francisco based exchange said on Wednesday in a blog post, its new margin trading feature provides leverage up to 3 times or 3 X or individual investors in the 23 US states. The leverage is also available to institutional traders in 44 states and nine countries what's. My gosh dude the world is so stupid like why. Why are there so many restrictions on everything? The 3x leverage matches? Coin bases previous margin, trading from 2017 coinbase, led by CEO, Brian Armstrong, briefly offered margin trading at the time, but suspended the service later in the year. Executives have been signaling since early 2019 that they were considering receiving or reviving the effort.
I assume assumption this has to do with the fact that finance is in the news thrice a day constantly releasing a a 50 X leverage, 20 X, 100 X leverage for all these different coins, so I guess coinbase having gotten rid of that in 2018 2019. They they want to make money yeah. So if you are looking to margin trade on coin base, there there you go for 3x leverage. Next up the in house, cryptocurrency of blockchain project Tasos is testing. All time highs as a wave of enthusiasm which began in January continues data from coin 360 and coin Telegraph market shows that Tasos is token it three dollars and twenty four cents. On February the 12th, a 25 percent increase in the past 24 hours alone and over 54 percent in the past a week as well year to date, investors have seen returns of 150 percent, making Talos too hot bet among out coins, which I've broadly followed Bitcoin. To see a hugely successful first quarter of 2020 that's kind of the news tezo's is doing extremely well. It wasn't what was the other one? Maybe it was tasteless and I'm thinking of there was some other, as tasteless did the proof of state coin I'm. Pretty sure Taser says the proof of state coin. I mean is I'm thinking of tasers. There are a couple of coins that are doing exceptionally well and hazel just happens to be one of them. I think it stays owes there iam.
There was some other, not random, but one that we don't hear about every other day or every single day. It was also up there as well. I assume tasers has had a bit of a pullback because of what has been going on in the market. The last couple of hours it's going to I hmm, not financial advice, and I also don't own any Tasos but it's, going to be fascinating to see if Tasos ends up being the the XRP or the etherium of 2020, like it started out 90 cents and by The end of the year, if we see like a hundred and thirty dollar Tasos well, then bragging rights to all the people who are holding tezo's, but I mean a lot of this stuff. A lot of the movement that we see going up could just be. Dare I say hype, maybe it'll exhaust itself, but as of right now Tasos is. I think tezo's is the highest performing coin this year. So far, absolutely insane let's move on next up: coinbase custody, crypto currency exchanges, coin bases, custody, subsidiary gotcha is adding support for blockchain protocol, polka, dots, dot, tokens, the custodial service and polka dots managing partner. The web three foundation are partnering up to allow investors who have been allocated the dots token, the claim of them directly with their coin based custody accounts per a web three foundation announcement. The claiming process has been already launched, along with the release of a dedicated website that provides information on alternative methods for dot holders to claim their tokens.
Polka dot first conducted a token sale in 2017, issuing five million dots in the form of saps simple arrangement for future tokens, which gives investors the right to the tokens once the protocol goes live. I remember hearing about polka dot in 2018, unless you've heard about it and some weird part of the internet, polka dot is never really spoken about. I guess the point being. If you have polka dot or know someone who does and you've been looking for a place to custody, it bam, coinbase has your back because they offering polka dot, stop token or their custody it's interesting to see. This is from, from my vantage point, finance and coin base in the news every single day kind of trying to like outdo each other as far as like who can do more and who's going to allow more things on their platform, i think they'll both do fine Number people arguing in the comment section a couple of days ago talking about: they think that only bond ants is gon na make it our only coin base is gon na make it. I I mean to be fair. We have more than one car company on the planet. We have more than one housing organization thing on the planet, so I assume, financing coin base will be around for a very long time. Ooh also makes me think of how rich they're going to be in a couple of years, like imagine how rich the that Brian guy is from coin base and also chunk Pankow, like imagine like 10 15 years, if all the crypto prices explode, oh they're, gon na, Be so rich that's disgusting anyway, let's move on and to kind of finish things off.
Italy'S securities regulator has shut down six foreign exchange websites and two crypto investing and derivative trading sites. According to finance magnates on the 10th of February report, when a butcher, this decommissioned a Nacional apparently associate Ella Borissov Khan Saab, has accused these 8 FX sites of violating the method and the consolidated law on the finance from providing for providing illegal trading products and services. Aiming to protect investors, the Italian authorities have set out to establish cryptocurrency regulation domestically. A 2016 ministerial resolution implemented a European Court of Justice decision. It stipulates that any transaction involves involving the exchange of crypto assets against Fiat would not be taxable oh that's, nice, but profits and losses on these transactions should be taxed. It stipulates that any transaction involving the exchange of crypto assets against Fiat would not be taxable. So if you cash out that's, not taxable but profits and losses on these transactions should be. The Italian Senate Committee on Corporate Affairs has also busied itself at legislation. It aims to create a guideline for the regulation of all financial and IT related firms to regulate their financial transactions via electronic means. Not gon na read that so this is kind of is not news, that's everywhere news, but anytime, that any country is like. Hey you, forty five websites are now completely banned here. It kind of raises flags. I am going to assumption and say that this is probably happening, here's, the actual article that is being quoted.
I assume that this is happening is simply because they want this going out on the limb. They want to maintain control of things happening within their country. These are probably cryptocurrency exchanges and or FX platforms that did not go to Khan Saab and was like hey, who's, gon na launch it ourselves. So anyone that does launch within Italy, I assume that's gone through Khan Saab. What a fun word to say is probably completely. Okay, anyway, just in case, you were wondering, if you're in Italy, why the cryptocurrency exchanges you were trying to use aren't there anymore now, you know yeah, as always, a very special thank you to my patreon supporters, professor Wally, from gun by University jungle alone, songololo Nostromo. Mr. pickle's John stars in the animal reader, a biblia phobia bare bones: mining Todd, Mullis, Adam gray, sick while him a running master ventures in Thailand, brady neil darish NIDA wise, not al four to the world. Krypto Jill bankroll Network adobo male ooh, easy crypto, artists, Cody 3d Nicholas worth one piece: one love damien set soon and it can. I Richie Rich Tutera Vlad the Impaler krypton Bishop map axis Nick mangy alimony, Anthony Charles gem, garnet Jeremy Fox, cementing coins Miller his chest. Every day in caskets leg day, yes, Krypto, boaty, mcboatface, Anytime, Fitness monks, corner staff are medic. 17 bake me a cake, ticker, a macho Nisa and on crypto with Lionel. Thank you very very much for your support.
Thank you to everyone who is a member of the channel. Sorry for this video was obviously a lot shorter than my other videos. I am at the end of my cold. You may notice, I am NOT coughing and or clearing my throat but it's still kind of there. So I just wanted to make sure that I got the news out. Everyone knows what's happening in the cryptocurrency space and no one is shocked and or appalled as to why bitcoins price has dropped down. That is definitely gon na. Do it for this video I'm gon na go, lay down and relax, not even going to the second channel and I'm, taking a break from all my businesses for a while, I realized I've been doing too much that's crazy, right yeah. I guess working like 16 hours a day, probably isn't the healthiest thing in the entire world, so I need to scale back dramatically. Thank you all once again for watching and or listening a lot of the coins right now are in the red ether is still up. Xrp asila by 7.5 litecoin is still slightly up, we'll see where this takes us by the end of the day.