- At last… – Finally, a US Judge has ruled that ‘Cryptocurrency is a Commodity’. A judgment such as this typically indicates that Regulation will follow shortly after. This ruling will make it easier for Regulators (the CFTC in particular) to now agree upon Regulation suited for the Crypto Market and to then have it passed by Congress. The CFTC have deemed Cryptocurremcy a Commodity since 2015, but until now have not had any direct or indirect official judicial body share this view. Another step forward for Crypto entering the mainstream as it gains specific classification.
Twitter Plague – Just as Crypto has risen in popularity so have the number of Scammers attempting to defraud. At the moment Twitter is beginning to feel like the film Bladerunner. A constant battle to try and identify who are the real Humans and who are the ro”bots”. It’s actually really getting out of hand and the levels of sophistication are only increasing. Many of the larger accounts on Twitter have needed to issue warnings almost on a daily basis to their followers warning them if the potential Scams associated with their accounts. Twitter has now chosen to acknowledge this increased fraudulent activity with an aim to stamp it out or at least reduce it in part. No official statement or strategy has been issued by Twitter but they have claimed that they are working with other platforms (such as Facebook) to stop these attacks at source. Jack Dorsey, Twitter Co-Founder and CEO said simply “We are on it!” Time will tell.
- In the mean time, DO NOT “Send XX to XX Account in exchange to receive XXX back”. You will be waiting a very long time for any return.