In recent years, the realm of cryptocurrencies has witnessed exponential growth, accompanied by an alarming rise in cyberattacks targeting digital assets. The European Securities and Markets Authority (ESMA) has recognized this escalating threat and is urging EU lawmakers to enhance regulations to wield a firmer grip on the cryptocurrency sector. A report by the Financial
2024
This past week, Bitcoin has experienced remarkable momentum, soaring by 10% to re-establish itself above the $67,000 threshold. Such a movement not only marks a significant price point but also reflects the broader market dynamics that are driving investor sentiment. The Coinmarketcap Fear and Greed Index has notably pivoted towards greed, shedding light on the
The cryptocurrency market has shown an impressive upward trend, particularly noted on October 14, 2024. This particular rally, sparked in part by Vice President Kamala Harris’s unveiling of a new regulatory framework for digital assets, reveals a profound investor optimism in the market. Such developments underscore not only the volatile nature of cryptocurrencies but also
The cryptocurrency market is currently experiencing a resurgence of optimism, especially surrounding Bitcoin, which has recently approached the $66,000 mark. This price rally has invigorated a plethora of investors and traders, many of whom are starting to envision the possibility of even higher price benchmarks. While the excitement is palpable, grounded analysis reveals an intricate
The ongoing evolution of the cryptocurrency industry has garnered significant attention, especially as the 2024 U.S. presidential election approaches. Analysts are increasingly assessing how potential leaders could shape the regulatory landscape for digital assets. One such exploration comes from Alex Thorn, the head of research at Galaxy Digital, who has meticulously crafted a ‘policy scorecard’
In a significant policy shift, the United Arab Emirates (UAE) has decided to exempt cryptocurrency transactions from its 5% value-added tax (VAT). Officially announced on October 4, this amendment to the Federal Decree Law on VAT is poised to take effect on November 15, 2024, while retrospectively benefiting transactions dating back to January 1, 2018.
South Korea’s Financial Services Commission (FSC) is taking significant steps toward scrutinizing Upbit, the preeminent cryptocurrency exchange in the nation. The inquiry is prompted by growing concerns over Upbit’s influence within the crypto market and its potential risks to the financial system. FSC Chairman Kim Byung-hwan has indicated that this investigation will focus on the
In a significant initiative geared towards digital financial innovation, Taiwan’s Financial Supervisory Commission (FSC) has unveiled plans for a pilot program dedicated to digital asset custody services. Announced on October 8, this program will allow financial institutions to apply for the capacity to safeguard digital assets, including cryptocurrencies, for their clientele. This is a crucial
In light of the growing interest in cryptocurrencies and decentralized finance, investment firms such as 21Shares are urging the European Securities and Markets Authority (ESMA) to take actionable steps towards establishing cohesive regulations for crypto assets within Undertakings for Collective Investment in Transferable Securities (UCITS) funds. The firm’s recent statement highlights a stark inconsistency across
The landscape of cryptocurrency regulation is evolving rapidly in Hong Kong, with the Securities and Futures Commission (SFC) on track to issue new licenses to crypto businesses by the year’s end. This dynamic change signals the city’s ambition to solidify its standing as a major player in the global digital asset market. Recent reports indicate