Crypto Highlights

Published in

WhiteBIT

4 min readSep 25, 2020

👋Time for crypto highlights! Want to find out what’s new in the world of crypto? Then read on!

What’s new on WhiteBIT?

From now on, you can trade, make limitless deposits, and withdraw up to 2 BTC a day without KYC!
You don’t need to waste your time on submitting your documents & selfies and then wait for them to be approved.
If you’re extra careful with your data, you can stop worrying about a third party having your documents.

Our partner, Dash, has recently launched a new network called FastPass.
It’s an ecosystem that includes partner services that provide an enhanced user experience within Dash.
With FastPass, a trader can complete routine deposits or withdrawals in minutes or seconds, instead of hours.
One of the goals of FastPass is to provide traders with information and analysis on the latest trends and topics within the trading ecosystem.
More information as well as the full list of partners can be found on the website of FastPass.

We have teamed up with Hacken.io to strengthen our exchange’s security and make sure that WhiteBIT is the safest place for trading or holding assets.
Hacken will carry out a security audit of our exchange to identify potential weaknesses and ensure that our platform deserves the highest security-score possible.
Hacken is a top-tier cybersecurity company with a major focus on cryptocurrency exchanges and blockchain security.

What’s new in the world of crypto?

A cryptocurrency mania known as decentralized finance has helped to turn digital currencies into this year’s best-performing asset by far.
The Bloomberg Galaxy Crypto Index of digital coins is up about 65% in 2020, exceeding gold’s jump of more than 20% as well as returns from global stocks, bonds, and commodities.
Increased adoption of decentralized finance, or DeFi, has driven the climb in Ethereum, which “appears to be maintaining its platform leadership status” in the sector, said Mike McGlone, a strategist at Bloomberg Intelligence.

A much anticipated first-ever plan to regulate cryptocurrency in Europe was unveiled on Thursday (Sept. 24) by the European Commission.
The legislation is intended to reduce market fragmentation, as many digital finance providers only operate in one country. As a result, the measure allows crypto companies to provide their services across the other member states with approvals.
Still, it’s noted that digital transformation is not risk-free. The new legislation intends to reduce these risks for investors, while also giving legal certainty to the issuers of cryptocurrency.
It may take more than one year before these proposals from the EU are implemented.
German Finance Minister Olaf Scholz pledged on Thursday (Sept. 24) to accelerate the EU’s financial reforms for regulating cryptocurrency, noting that they could help fuel the economic recovery.

Global payment network Visa is accelerating its work on cryptocurrency payment technology and will include blockchain technology in its operations.
Visa has been in close ties with central banks around the world for CBDCs, as they are gaining interest in recent times.
Visa wants other payment companies and banks to adapt to cryptocurrency technology as soon as possible.
The leading US-based popular cryptocurrency exchange Coinbase has partnered with Visa to get its main membership. Thanks to this, Coinbase users had the opportunity to spend their crypto money at every point where Visa is accepted.
According to the manager, Visa has somehow settled with about 25 companies from around the world so far. Agreements with the company, which has more than 60 million merchant networks, are of great importance for crypto money companies

U.S. authorities announced criminal charges and financial sanctions against two Russian men accused of stealing nearly $17 million worth of virtual currencies in a series of phishing attacks throughout 2017 and 2018 that spoofed websites for some of the most popular cryptocurrency exchanges.
Separately, the U.S. Treasury Department announced economic sanctions against Potekhin and Karasavidi, effectively freezing all property and interests of these persons (subject to U.S. jurisdiction) and making it a crime to transact with them.
According to the indictments, the two men set up fake websites that spoofed login pages for the currency exchanges Binance, Gemini, and Poloniex.
Prosecutors say the men then laundered the stolen funds through an array of intermediary cryptocurrency accounts — including compromised and fictitiously created accounts — on the targeted cryptocurrency exchange platforms.

Stay tuned for more news!

WhiteBIT Team

Written by Anna Ratieva