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South Korea’s Tax Authority, DAXA Form Committee to Prevent Illegal Transactions: Report
8.1.2024
Source: Pixabay South Korea’s tax Authority, the Korea Customs Service group and five major cryptocurrency exchanges including Bithumb Korea, Coinone, Korbit, and Streami have formed a group to prevent illegal foreign transactions, according to a report by News1.KR. The Digital Asset Exchange...
11 Spot Bitcoin ETFs Inch Closer to Approval — Analyst Says It’s ‘Basically Done’
6.1.2024
Eleven spot bitcoin exchange-traded funds (ETFs) are moving closer to approval by the U.S. Securities and Exchange Commission (SEC). Proposed rule changes to list and trade all 11 spot bitcoin ETFs on stock exchanges have been filed with the SEC. “It’s basically done,” an ETF analyst...
Binance Assigns Monitoring Tag to Privacy Coins, Including Monero and Zcash
6.1.2024
Binance, the largest cryptocurrency exchange, has recently announced that it will start monitoring ten new projects, including privacy blockchains like Monero, Firo, Mobilecoin, and Zcash. Binance reported that these projects might be delisted in the future, failing to meet the criteria required...
Bonk Price Prediction as It Falls 6% – Is the Meme Coin Hype Fading?
6.1.2024
Bonk (BONK) is down another 6% on Friday, taking its run of losses since hitting all-time highs in December to nearly 70% as meme coin hype continues to fade. BONK/USD was last changing hands on major cryptocurrency exchanges at around $0.000011, a far cry from its peak a few weeks ago above...
Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges
6.1.2024
Decentralized Exchanges Near Trillion-Dollar Milestone: A Year of Record Volumes
5.1.2024
Per data analysis, decentralized exchange (dex) platforms nearly reached a trillion dollars in trading volume, posting $960.69 billion over the past year. Moreover, dex activity in December exceeded the previous 2023 high of $132.26 billion, concluding the month with $135.86 billion in finalized...
South Korean Tax Accountant: Digital Assets Held in Non-Custodial Wallets Not Subject to Overseas Reporting Requirement
5.1.2024
South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax accountant, only virtual assets held on overseas centralized...
CoinDCX Reports 2000% Increase in Deposits Since India’s Crackdown on Offshore Exchanges
5.1.2024
Source: Shutterstock India’s leading crypto exchange CoinDCX has reported a 2000% increase in deposits from customers since the finance ministry issued a show cause notice to 9 major offshore exchanges, including Binance on December 28. Offshore exchanges Binance, Kucoin, Huobi, Kraken, Gate.io...
US SEC Cites Terraform Case in Coinbase, and Binance Rulings
5.1.2024
Source: Pixabay The US. Securities and Exchange Commission (SEC) has cited the Terraform Labs recent ruling during the Coinbase and Binance hearings strengthening its claim that the cryptocurrency exchanges went against the securities law. On 28 December, the SEC ruled that Terraform Labs tokens...
SEC Meets With Major Exchanges to Discuss Spot Bitcoin ETFs — Analysts Expect Imminent Approval
5.1.2024
The U.S. Securities and Exchange Commission (SEC) has met with officials from major exchanges to discuss spot bitcoin exchange-traded funds (ETFs). Sources close to the proceedings say the securities regulator could begin notifying issuers of spot bitcoin ETF approval on Friday and trading could...
Crypto Exchanges Witness Bitcoin Deposit Boom Amidst Ethereum Retreat
4.1.2024
According to recent data, in the past month, the quantity of bitcoin residing in centralized cryptocurrency exchanges surged by 32,058 bitcoin. Concurrently, the ethereum reserves on these exchanges have diminished, with 262,904 ether, valued at $597.42 million, being withdrawn from trading...
South Korea’s Crypto Surge — Navigating the ‘Kimchi Premium’ and Massive Trade Volumes
4.1.2024
Recent data reveals that South Korea’s crypto trading volume has surged in recent months, with two exchanges, Upbit and Bithumb, contributing over 10% to the global trading volume as of Jan. 4, 2024. Additionally, while the global price for bitcoin hovers around $43,356 per unit, in South...
Is Terra Luna Classic Going to Zero? LUNC Price Drops 20% as Novel Mining Protocol Takes All the Attention
4.1.2024
Despite a tumultuous 2023, which saw Terra Luna Classic de-listed by major exchanges, LUNC has mounted a resounding come-back, yet, amid a -20% price drop – is Terra Luna Classic going to zero? Upside price action appears to have been invigorated by a quick-fire burn mechanism, that has been...
South Korea Proposes Ban on Crypto Purchases with Credit Cards
4.1.2024
Source: Pixabay / viarami South Korea’s Financial Services Commission (FSC) has announced a proposal to amend its Enforcement Decree of the Credit-Specialized Financial Business Act, aiming to ban crypto purchases with credit cards. The proposed amendment plans to restrict the use of credit...
SEC To Finalize Comments On Spot Bitcoin ETFs With Nasdaq, NYSE
3.1.2024
Source: DALL·E The U.S. Securities and Exchange Commission (SEC) will reportedly hold meetings with the nation’s largest stock exchanges on Wednesday, refining all details related to a suite of Bitcoin ETF applications. “The SEC is holding meetings today with the exchanges (Nasdaq, CBOE, NYSE)...
Record $1.1 Trillion in Crypto Exchange Volume Driven by Spot Bitcoin ETF Anticipation
3.1.2024
Source: Adobe The monthly spot trading volume on crypto exchanges exceeded $1 trillion in December 2023, marking the first time this significant volume level has been surpassed in over a year. According to data from compiled by The Block, the total exchange volume for the month reached a whopping...
Over $460 Million Longs Liquidated in Past Hour as Bitcoin Drops 8% on Spot ETF Delay Rumors
3.1.2024
Image Source: Pixabay More than $460 million in longs liquidated across the crypto market over the past hour alone after the price of Bitcoin dropped by 8% on rumors that the SEC might delay spot ETF approval. According to data by CoinGlass, long traders suffered around $462 million in losses...
Study: Only 6% of Crypto Exchanges Integrated the Lightning Network
3.1.2024
A new research study has partly attributed the growth in the use of bitcoin “as a transactional layer” to the increased number of crypto platforms that have joined the Lightning Network ecosystem. The study however found that just over 6% of centralized crypto exchanges have...
Orbit Bridge Hack Confirmed, Over $81.5 Million Lost in Cryptocurrency Assets
2.1.2024
Orbit Bridge, an inter-blockchain bridging protocol, has confirmed that it was recently exploited, losing over $81.5 million in several assets, including USDT, DAI, USDC, WBTC, and ETH. Orbit Chain is trying to communicate with the group responsible for the attack and has asked cryptocurrency...
Coinbase ‘Extensively Prepared’ for Spot Bitcoin ETF Approval
1.1.2024
Crypto exchange Coinbase says that it has “extensively prepared” for spot bitcoin exchange-traded fund (ETF) approvals by the U.S. Securities and Exchange Commission (SEC). Most spot bitcoin ETF applicants have named the Nasdaq-listed crypto platform as the custodian for their...