Kunal Kalra, also known as “Kumar” or “CoinMan” is a 25-year-old man from Westwood, Los Angeles (LA). The man is said to have pleaded guilty of charges of trading in digital currencies without any license and also of money laundering. 

He exchanges around $25 million in cash and digital currencies without a legit license. He traded cash and digital currencies for many people and those people were sometimes involved in illegal activities as well. 

These illegal activities were mainly of drug peddlers who were involved in the illegal sale of narcotics on the internet. The United States Justice Department has said that the man has pleaded guilty for all charges labeled against him and is said to make his first appearance in court next month. 

United States Justice Department said that Kunal Kalra was involved in money laundering and illegal trading and exchange of cryptocurrency without a license from May 2015 onward and continued these activities till October 2017. 

The law enforcement agencies have already sealed around $89,000 United States dollar (USD) in cash and about 54 Bitcoins  (BTC) and other digital currencies worth more than half a million dollars from him. The United States Justice Department has said that the man can face a maximum penalty of life imprisonment.

One of the most renowned cryptos in the market at present, Cardano, has once again been able to be grad the atten1tion of the market. On the 23rd of August, Cardano was able to make an uplift of around 5.38% by the end of the day.

In fact, the most imperative fact worth noticing right now is that the ADA has finally been able to go beyond 0.050 USD.

Well, the current momentum of the coin truly symbolizes that the coin might soon be in the bullish zone.

Cardano At Present

Before moving further, let’s analyze the present scenario of the coin.

As of now, the crypto has successfully made it possible to remain at the 12th rank.

With a market cap of 1,300,097,276 USD, the current value of the crypto in USD is around 0.050075 USD. However, the value in BTC is somewhere around 0.00000492 BTC.

As far as the 24-hour volume is concerned, it can be seen around 62,551,357 USD.

The coin stands in the market with an ROI of 131.36% at present.

Ups and Downs of The Day

Well, the start of the day was not as good as the coin had to face a drop of 3.27%.
However, soon enough after 16:38 UTC, the coin witnessed an uplift of 9.16% which was a bit relieving. Soon after that, the coin was found trading at 0.051192 USD. It was soon noticed that the coin had actually reached the highest point of the day.

However, by the end of the day and after several more drops the coin was able to make a profit of 2.63% which made it possible for the coin to move beyond 0.050 USD.

ADA Cardano Price Prediction

As far as the Future of ADA is concerned, the coin might have faced rough times in the market but it seems the bulls might end soon.

It can be said so because the temporary target as of now has already been achieved. Well, although there is no deny in the fact that in order to stay strong in the present market, the coin might have to push a bit more.

But the fact that is more relieving is that the analysis of the past data clearly signifies the shift of the coin in the bullish zone by the end of the year.

Regulation puts many obstacles in the path of innovation technology. With regards to regulation, the question always arises regarding how to maintain a balance between enabling rapid technology growth and maintaining sufficient control so as to protect customers and the domestic economy. This is not an easy task and it is the concern of every government all over the world.

As blockchain technology gains momentum, some legislators like those in China and the US have responded with preemptive bans and crackdowns, but Thai regulators have assumed a more progressive stance. 

The Bank of Thailand (BOT), the Office of the Securities and Exchange Commission (SEC), and the Office of the Insurance Committee (OIC) (1) are the key regulators in Thailand and these supervise the blockchain regulation.

Fintech in Thailand

In many countries, regulatory sandboxes assist FinTech players in experimenting with new products or services. During a limited period, they are not fully subject to normal requirements.

The BOT launched its regulatory sandbox for products relating to loans, payment and fund transfers, and similar transactions. Four companies have been approved by the BOT: three of which include the use of blockchain for a letter of guarantee and cross-border transfer and the other one being biometrics identification. Similarly, the SEC and OIC have launched several regulatory sandboxes.

Thailand on Bitcoin and cryptocurrencies:

Thailand has significantly altered its attitude and support for cryptocurrency investors and developers.

Initially, the Bank of Thailand discouraged Bitcoins.  However, in January this year, the SEC published a statement that recognized Bitcoin as an asset that can be traded but stated that Thailand does not regulate Bitcoin transactions. Bitcoin is not legal tender to pay off debt and the SEC does not endorse the status of Bitcoin.

Thailand’s regulation on ICOs

ICO is a digital way of raising funds from the public. ICO issuer will offer digital tokens in exchange for cryptocurrency in an ICO process.

On September 14th, 2017, the SEC published its guidance on token offerings, explaining that in some circumstances, digital assets may be subject to securities regulation. It tried to strike a balance between fostering technological innovation and protecting the investor.

Due to the manifold increase in the popularity of token offerings, the SEC has also expressed concern that fraudsters or scam artists might abuse these.

 The Thai SEC, however, has generally welcomed blockchain technology in contrast to regulators such as UK, Canada, Dubai that have given public warnings about ICOs.

Blockchain regulation in Thailand has been undergoing constant changes which investors and interested parties must keep updates with. 

The SEC issued a Public Consultation Document Aor Tor Ngor 34/2560 regarding its regulatory approach on Initial Coin Offering on October 27^th, 2017. Diligence, compliance and documentation requirements are covered by the new restrictions. This means that Thailand’s ICOs will be highly regulated.

Overall, Thailand regulators are keen on exploring the underlying technology of cryptocurrencies while maintaining a cautious stance. With its welcoming attitude towards this technology, Thailand may be one it’s the way to becoming one of the blockchain hubs in the world.

Since there is no deny in the fact that the crypto market can go really hard for some firms at some point in time. For a long time, it seemed that the one crypto going through this rough time was Dogecoin.

The coin had undoubtedly been seen suffering terribly in the chart from quite some time now and the bulls had really disappeared.

However, if you too are one of those worried about your investments in the coin, then relax because the scenario might not get as rough as you might have imagined. The Dogecoin, as compared to the last few days, seems to be in a somewhat better position.

THE SILVER LINING FOR DOGECOIN

The market discussion about Dogecoin was not at all optimistic for the last few weeks. The majority of the market seemed to be really disappointed as the crypto touched the $0.0024 level. Whereas, others were worried that the coin might cross the lowest bound that it once touched in February.

However, now it can clearly be said that the dark clouds for Dogecoin have perhaps passed away and its time for the silver lining.

As far as the views of analysts are concerned, the majority of them now expect the coin to be really strong around its current level.

DOGECOIN PRICE ANALYSIS

Before moving further, let’s have a brief glance at the present condition of Dogecoin.

Speaking about the present scenario, the current trading price can be seen at $0.0027. The market cap of the coin is somewhere around $325,113,648.

As far as the 24-hour volume is concerned it was found to be $21,812,393.

Most importantly, the return on investment, as of now, can be seen around 318.26%. This has perhaps lead to the circulation of the coin in the market to be around $129,898,307,563, DOGE.

Thus, with all these pillars, the coin has now managed to be on the 29th rank in the market while VeChain still lies on 31st.

DOGECOIN PRICE PREDICTION

The theory that “Dogecoin follows the trodden paths of Bitcoin” has been around the market for a while and seems to be somewhat relatable.

As far as Bitcoin is concerned, it’s making really good profits today and the same would perhaps end up effecting Dogecoin.

If the analysts’ views are concerned, there is a better probability of profits today for the intraday traders. Well, that doesn’t here.

Because the coin not only promises a better intraday market but also ensures a reliable platform for the future prospect of long term investors.

As per the calculations, it is now firmly believed that the coin would soon be able to trade at 4% to 5% profit. This is why the coin might be around $0.00060 by the end of the year.

Therefore, just in case you are confused about your investments, it might be a profitable idea to invest now.

Patrick M. Byrne is an American entrepreneur and e-commerce Pioneer who is also said to be a cryptocurrency and blockchain technology advocate resigned from the post of CEO of Overstock.com, an American internet retailer with headquarters at Midvale, Utah near Salt Lake City.

Patrick M. Byrne stated in a letter to the board of members of his company that he was resigning from the post of Chief Executive Officer  (CEO) and there were the number of reasons were mentioned in the letter for his resignation, security issues were one among them. 

His resignation comes after his admission to a three-year relationship with Maria Butina, a Russian agent who is currently in prison pleading guilty to charges for acting as a foreign agent.

Here is what Patrick M. Byrne wrote in the letter: “While I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock, both as CEO and board member.”

Patrick M. Byrne will be replaced on an interim basis by Johnathan Johnson who is the current President of Overstock’s blockchain initiative. Johnathan will be for the time being the Chief Executive Officer until a new CEO is appointed.

“On any normal day, my presence is not conducive to strategic discussions regarding our retail business. I believe that going forward my presence will definitely not be conducive to such strategic discussions,” added Byrne further in the letter.

The stocks of Overstock has surged around 15 percent following the resignation of Byrne. On Thursday itself the stocks showed a surge of about 8 percent.

According to CoinMarkCap and most traditional measures, Bitcoin’s dominance is hovering around 70%, a level not seen since April 2017. Dominance is a measure of Bitcoin’s value compared to the wider cryptocurrency market.

The Bitcoin price has not made much progress over recent months after surging higher earlier this year. Many Bitcoin rivals including litecoin, ethereum, and Ripple’s XRP are struggling to make similar gains.

However, shock research suggests that the market may be even more weighted towards Bitcoin than previously thought. The real Bitcoin dominance is 20% higher than what is currently accepted in the industry is adjusted for liquidity. This would place Bitcoin’s real market dominance at 90%.

The new report from Arcane Research states that theirs is the real, more accurate value. Arcane Research argues that liquidity cannot be ignored to get the real market value for Bitcoin’s dominance and with this in mind, the researches utilized trading volume as an indicator of dominance. However, the researchers highlighted that there is a need for a complex measure to get more granular results.

Researchers found that if Bitcoin’s dominance soars to over 90% if it is adjusted for liquidity by calculating the volume-weighted market capitalization. This reduces the rest of the cryptocurrency market, including major tokens ethereum, litecoin and Ripple’s XRP, to less than 10% together. This makes their ultimate success seem more unlikely.

Bitcoin currently has a market capitalization of $180 billion, compared to litecoin’s $4.5 billion, ethereum’s $20 billion and $11 billion for Ripple’s XRP.

Since its already known that Vechain has been in all bearish zone for a few months now. In fact, some analysts strongly argued the fact that it’s high time now that chain comes up with some new strategies that can truly boost up the crypto price.

The Ray of HOPE FOR VECHAIN

Well, the scenarios for vechain might change in the future as now it seems VeChain is consistently trying with extreme efforts to come in the bullish zone.

As per the recent report, China’s largest wine importer namely Counterfeit Wine has now joined hands with VeChain.

The largest wine importer plans to use the VeChain’s blockchain technology which will primarily be implemented for tracing anti-counterfeit.

Now the part that must be noticed is the fact that China can undoubtedly be seen to become the world’s second-largest wine consumer by 2020. Therefore, if observed with proper calculation, it can definitely be said as the sales of wine go high, the equal benefits shall be enjoyed by all other that on-board.

VECHAIN’S MARKET AT PRESENT

Speaking about the trading price of VET against USD at present, it can be seen somewhere around $0.0044792. Whereas, the market cap of the crypto was found to be 252,671,985 USD.

During the same time, the 24-hour trading volume of this particular altcoin was around 28,001,391 USD.

Moreover, as far as the total number of VeChain chips circulating in the market is concerned, it was around 55,454,734,800 VET.

Therefore, with a return of -69%, the crypto lies in the 31st rank at present.

VECHAIN THOR PRICE PREDICTION

Considering the upward shift of 3.49% yesterday, the crypto has been able to showcase its reliability in the market once again. As per the statements from some analysts, the crypto might be able to trade around $0.1 by the end of 2019.

However, as of now, the VET has got a support level of 0.004245 USD whereas the immediate resistance for the coin is at 0.004665 USD.

INVESTMENTS WON’T GO IN VAIN

If you too are one of those terribly worried about their investments in this crypto, then its high time for you to acknowledge that your money is not in vain.\

It can be said so because of the constant efforts of VeChain, the crypto has now emerged as one of the most reliable firms to partner with. This is why 2019 witnessed some really effective partnerships of VET that restores the faith back in the firm, even if it’s going through rough times.

Along with a recent partnership with China’s largest wine importer, Counterfeit Wine, the VET has been able to gather some major clients all around the world. Some of its clients include DNV GL, the Chinese Government, Louis Vuitton and many more

At the beginning of 2019, it became clear that the volume of OTC (over-the-counter) market is growing rapidly, up to $30 billion per day trade. Earlier, Bloomberg noted the significant increase in the number of institutional investors in the OTC cryptocurrency market.

In recent months, many major exchanges such as Binance, Coinbase, Bittrex, Huobi, and others have launched own centralized OTC desks. Most exchanges implement using solutions that require additional modifications and high user confidence.

Also, existing OTC solutions have serious disadvantages:

• Need for a third party (escrow)
• Many intermediate agents in one deal
• Low transparency
• High-risk of fraud

All of these reasons have led to an increase in OTC services and the creation of SWAPS.NETWORK – an OTC Global Liquidity Pool. It accumulates all OTC deals on the market and connects sellers and buyers from around the world.

SWAPS.NETWORK provides fully decentralized OTC solutions. Users can make OTC deals without a 3rd party or escrow. 

SWAPS NETWORK provides a solution to the OTC trading with the following features:

• Fully decentralized
• No volume limits
• Any trading pairs supported
• Ability to set a Brokerage Fee
• Trading of unlisted tokens
• User-friendly interface

The development team is well known in the field of creating smart contracts and has a strong reputation in the market. Therefore, SWAPS.NETWORK is supported by such partners as BW.com, Bitforex, COSS, and Bestrate.

According to the Founder of SWAPS.NETWORK – Vladimir Tikhomirov:

“In 2020 we plan to be the OTC provider for most crypto exchanges and brokers. Therefore, we have chosen a strategy based not on the distribution of the service but on integration with major players in the world of cryptocurrency exchanges.”

SWAPS.NETWORK launched an IEO on COSS. It will be till 30th of August. 

Currently, SWAPS NETWORK is available for the Ethereum-based tokens, while the dev team is working for the EOS, NEO, TRON and Bitcoin blockchains integration. Additionally, the development of cross-blockchain swaps is included in the Roadmap.

Go to SWAPS.NETWORK to start OTC trading.

Join OTC revolution!

Rumours have been floating in the market for quite long now that E-Commerce giant, Amazon may be interested in the launch of its own digital currency. The speculations started way back in November 2017 when it was reported that Amazon has applied for registration of blockchain-based and cryptocurrency-based domain names. However, Patrick Gauthier, the Vice President of Amazon Pay (an online payment service of Amazon), has rebuffed any such news and is constantly maintaining a stance that Amazon is into no such plans as of now.

Amazon has made huge advancements when it comes to blockchain technologies and thus has developed its own blockchain service. Amazon has entered into business with many blockchain players. In May, this year Amazon obtained a patent for developing Merkle trees, solutions to the algorithm deployed in cryptocurrency.

After the announcement of facebook to launch its own digital currency, Libra and the announcement of Walmart to launch its own stable coin it may be a very good possibility that other e-commerce and multinational giants may be quite interested in digital currencies. (Walmart has already applied for the patent of its stable coin).

Especially Amazon must now change its stance because it will be hugely affected if Walmart comes up with its own stable coin. Like Walmart, the competitor of Amazon will now become more versatile and more flexible after the launch of its own stable coin thus forcing Amazon to come up with some interest in cryptocurrencies.

Chainalysis, which is one of the top blockchain analysis company and it has launched new tools to support the virtual currencies firms to help them look tactical with the regulators. The firm already knows service such as “Know your Transaction” will provide the users real-time notifications.

Chainalysis is considering about the money laundering and that’s why it is providing the facility to the company to accept the transaction along with reading. This service of Chainalysis will be present for every 15 virtual currencies which currently associated with the blockchain investigation firm.

As per the report published in HedgWeek in the section of financial news, the Chainalaysis firm of blockchain forensics has introduced a new function to help the virtual currency firms to become manageable in the constantly changing regulatory system.

The most important system among this of Chainalysis is Know Your Transaction feature, which decreases the risk of money laundering while the company is doing a transaction. The firm believes that real-time notification will decrease the chances of financial crimes and money laundering.

The Chainalysis’s vice president of product, John Dempsey also said that these new steps and functions are due to the increasing regulatory investigations in the cryptocurrency industry. He commented about the upgrade,

“Every minute counts when managing exposure to sanctioned entities, hacked funds, darkness markets, and other illicit activities, which is why Chainalysis is investing in fast actionable alerts to help our customers mitigate risk across cryptocurrencies.”

The whole idea of this function is for the companies who usually transaction with cryptocurrencies and now they are able to investigate every transaction and also its involvement into any financial crimes. If they come to know about anything suspicious so they can take action according to that and following it they ban the user ‘s service and reject the transaction.

The function of Chainalysis is really welcomed by the other virtual currency exchange firms and authorities. Especially who already had been the victim of the situation. The Chief Compliance Officer of Gemini, Michael Breu also said, “Tools like KYT alerts, which provide real-time and ongoing blockchain analysis, coupled with Gemini’s own compliance policies, help us meet our regulatory obligations.”

The functions may well very important in catching scams in the cryptocurrencies ecosystem such as PlusToken scam, in which the company tricked the investors to transact over around 1,000 BTC in the wallets. Those who are investigated scam has started the funds are making it’s the way to famous exchanges in the form of blocks of 50 or 100 BTC.

Chainalysis is the first company to trying to solve and look after the blockchain-related financial crimes. If they are also working with a lot of authoritative government agencies to impose better laws and the criminals should go behind the bar.