Cryptocurrency Trading to be blocked in Denmark

Danske Bank, one of the biggest banks located in Copenhagen, has warned his customers against purchasing the cryptocurrencies

30 March 2018 1717

This bank has got departments in Trondheim (Norway) and Vilnius (Lithuania). According to the announcement on its website, the company does not presently allow any cryptocurrency transaction. Cryptocurrencies are not held by a central bank, so the bank declares about the lack of the investor and consumer defence commonly connected with with traditional investments and currencies.

Also, cryptocurrencies have been strongly volatile and the price formation is non-transparent, as it was said in the message. All these points have formed a very limited position of the investors about the development of the market and what factors do control the price.

The bank accentuated the lack of the framework control and transparency as the most significant reasons for not investing in cryptocurrencies. These problems have made digital money a target money laundering and extortion.

Danske Bank requires that a financial establishment is obliged to assist in the struggle against the crimes. Today cryptocurrencies do not correspond to the optimal level of transparency for the bank to fulfil anti-money laundering (AML) obligations.

Though, as it was said in the notice, the bank might be able to change his decision relatively to cryptocurrency, if the trading market becomes more developed and
limpid.

The cryptocurrency surrounding environment is also will not been supported by the bank. It has refused from the opportunity of buying financial instruments that could influence on the price of cryptocurrencies. Such instruments may also include the exchange trade notes which reflect the price of the cryptocurrency. The exchange trade notes are characterised by volatility and strong risk.

Danske Bank does not forbid using of its bank-issued credit cards connected with cryptocurrency trading. But the customers are recommended to adhere to the current anti-corruption procedures and AML rules.

AI Bitcoin Blockchain

BNC to Monitor BTC Community's Mood

The system called Twitter Sentiment analyzes over 34M BTC-related Twitter posts each week, using AI to track the mood of the community

22 January 2020 121

Blockchain-based New Zealand-based research firm Brave New Coin (BNC) has unveiled a new system for measuring the mood of the Bitcoin community based on Twitter messages.

According to BNC, the new Twitter Sentiment rating system analyzes over 34 million BTC-related Twitter posts each week. The company uses artificial intelligence (AI) algorithms that look for records containing the words bitcoin, $ BTC and BTC and others.

BNC notes that user sentiment continues to be a “significant” factor in the price and dynamics of digital assets, and a new technique has been developed to track these sentiments. According to the BNC, it took 18 months to launch the Bitcoin Twitter Sentiment. The data obtained is divided into seven categories - Opinion, Technical Information, Inside the Network, Advertising, Bots, Macros and Hacking.

For the week ending January 17, the most common entries were in the Opinion category - their number was 30.42% of all data received. In second place was the category Technical Information, and in third inside the network (includes information on mining and hashrate).

BNC spokeswoman Pierre Ansaldi said that during the first quarter of this year, the company will also launch community sentiment analysis tools for other crypto assets.