Comment Period Extension Requested For FinCEN’s Proposed Wallet Rule – January 1

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $29,056

Bitcoin price continues to push to marginally higher levels, setting a new all-time high at $29,500 today.

Top-20 altcoins are mostly trading flat, with a sprinkle of out-performers. Ethereum has fallen just over 2% over the last 24 hours, while XRP gains another 5%, NEM bounces back 23%, and THETA gains 14%.

Top Stories for January 1, 2021 πŸ”₯

πŸ‘‰ Comment Period Extension Requested For FinCEN’s Proposed Wallet Rule

Eight US representatives have contacted Steve Mnuchin concerning the shortened comment period on FinCEN’s proposed rule for cryptocurrency wallets.

The agency’s notice of proposed rulemaking provided just 15 days for evaluation and comment from the public, rather than the traditional 60 day period.

FinCEN’s proposed rule would increase reporting requirements for exchanges and specifically target “self-hosted” wallets.

πŸ‘‰ Grayscale Clarifies That They Did Not Liquidate XRP And XLM Holdings

A Grayscale spokesperson has clarified that the company has not sold off large stakes in Ripple (XRP) and Stellar Lumens (XLM), following reports claiming they did earlier this week.

Crypto data analytics platform Bybt had previously shown a large reduction in XRP and XLM exposure by Grayscale, however the company refutes the claims.

πŸ‘‰ Number Of Bitcoin “Whale Entities” Jumps To New Record High

According to Glassnode, the number of “whales” holding 1,000 or more Bitcoin has hit a new record of 1,994, surpassing the previous high of 1,969 in 2016.

The figure rose by 16% over the course of 2020, and 7.3% in Q4 alone – a phenomenon that experts are calling a new “whale-spawning” season.