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2. Hackers: As we celebrate a quite successful 2019 in the crypto industry and enter the new year with new hope, hacks and scams across the industry remain a problem we have to face 2020. Centralized exchanges and custodial wallets were the most targeted institutions across2019withinvestorslosingover$500millionintheprocess. Remember Satoshi’s wordsintheBitcoinwhitepaperreleasedin2008: “What is needed is an electronic pay- mentsystembasedoncryptographicproofinsteadoftrust,allowinganytwowillingpar- tiestotransactdirectlywitheachotherwithouttheneedforatrustedthirdparty.” The transaction of cryptocurrency through exchanges and custodial wallets breaks this very importantrule.Remember,notyourkeys!Notyourcoins. CURRENTSTATEOF THECRYPTOMARKET https://verifiedcryptonews.com/

3. KeyPlayers: The digital currency space has seen rapid growth and expansion in 2019, with height- ened interest from governments and global corporations. Cryptos recovered from the 2018 bear market, when with Bitcoin crashed to as low as $3,800. The blockchain sector has seen exponential growth in 2019, as it became recognized by governments andinstitutionsaroundtheworldasatransformativetechnology.Thisyear,blockchain adoptionreachednewhighsasitcontinuedtofindnewusecases.Newsbrokewithan array of exciting blockchain-related developments, with the United Nations-led Inter- national Organization for Migration launching a blockchain tool to prevent the ex- ploitationofmigrantworkers,andChinesePresidentXiJinpinggivingaseminalpublic endorsement of blockchain technology. When asked about Crypto in the new year, Erik Voorhees, founder and CEO of ShapeShift, a Swiss-based instant crypto exchange said “For 2020, I’d like to see perception of crypto assets return back to a balanced state. By this Imean, in 2017 every crypto in existence was worth a gazillion dollars (which was crazy), and in 2018/2019, there has been a similarly overly pessimistic view (anythingotherthanBitcoinisworthless).

4. ADOPTION: The next decade will be critical and formative years for how digital currencies are imple- mentedandregulatedaroundtheglobe. The European Union is shaping up to be an epi- center for the cryptocurrency space, and it could dominate the conversation early next year. However, crypto-based companies operating in its member countries are in a battle fortheirexistence,astheFifthAnti-MoneyLaunderingDirective(AMLD5)comesinto exis- tenceintwoweeks. Expected to be enacted on January 10, 2020, AMLD5 imposes strin- gentfinancialdatareportingresponsibilitiesoncryptocurrencyfirms. Several EU-based cryptocurrency firms have already shuttered their services, citing the incoming regulato- rymeasures.TheseincludeBritishpaymentprocessorBottlePayandDutchcryptocurren- cyminingplatformSimplecoin.

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