"The four most dangerous words in investing are: ‘this time it’s different."
-Sir John Templeton

CoinSheet #173

COIN BULLETIN

ICOs Are Now Considered Money Transmitters?

FinCEN (Financial Crimes Enforcement Network), a U.S. financial agency, has stated in a letter published Tuesday, that the existing AML & KYC regulations will be applied to all ICO participants.

The letter suggested that developers and exchanges that interact with ICOs should register as a money transmitter and comply with a lengthy list of AML (anti-money laundering) and KYC (know your customer) regulations.

TL;DR - Since money transmitters have to comply with multiple AML and KYC laws, this classification would place the majority of ICOs in violation of federal law.

Binance Update: CEO CZ says "it's all good fam." (I'm paraphrasing)

Yesterday Binance had a small issue as some users had their altcoin balances liquidated at market price. No biggie. Everything seems good now.

Source

What else is going on...

1. Crypto is now in the Websters dictionary
2. Bithumb Looks to Enter the Bitcoin ATM Market

THINGS I LIKE

Ashley Lannquist writes about crypto valuation frameworks. Specifically,

• “Store of Value” Thesis
• Token Velocity Thesis
• INET & Crypto J-Curve Thesis
• Network Value-to-Transaction Ratio (NVT)
• Daily active addresses/users (DAA)

Check out her article here.

MARKET SENTIMENT

Top 5 Winners

Top 5 Losers

RIP aelf

Technicals

Bitcoin

Yesterday I wrote that Bitcoin rejected the bullish momentum and did not close the daily candle in the confirmation zone (which is right at that "kinda bullish" area).

Below is a macro chart of markets.

Take a look.

Keep in mind that this is a dynamic chart and needs to be updated every few weeks or so. (i.e., you can't really have a downward sloping "kinda bullish" area).

We're back in bearish channel / no-trade zone.

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Thank you for reading!