Woori Technology, a prominent venture capital entity based in South Korea, is reportedly on the verge of divesting its stake in Dunamu, the parent company behind Upbit, the leading cryptocurrency exchange in the nation. This decision marks a significant turning point, not just for Woori but for the broader landscape of South Korean digital finance.
Regulation
In November, Cardano (ADA) made headlines by achieving a remarkable 220% price increase, quickly reinstating its position among the top ten cryptocurrencies with a total market capitalization of $38 billion. The surge can be attributed to the overall bullish sentiment enveloping the entire cryptocurrency market following Donald Trump’s victory in the general election. Speculations about
Semilore Faleti has emerged as a notable figure in the ever-evolving landscape of cryptocurrency journalism. His foray into writing began with a broader focus, but he soon honed in on the complex world of digital assets. Over two years of dedicated crypto writing, Semilore has developed a deep understanding of the mechanics behind blockchain technology,
In a significant move reflecting the tightening grip of regulatory measures in the crypto sector, Coinbase has announced the cessation of rewards for USD Coin (USDC) holders situated in the European Economic Area (EEA). Effective from November 1, the exchange’s decision is primarily driven by the impending implementation of the Markets in Crypto Assets (MiCA)
The ongoing challenges surrounding the importation of Antminer ASIC miners into the United States have raised significant concerns within the cryptocurrency mining community. Reports indicate that the US Customs and Border Protection (CBP) is currently holding several shipments of these devices at various ports, leading to substantial delays and financial strain for affected companies. The
Stablecoins, currently valued at less than $200 billion in market capitalization, represent a minor fraction of the global financial landscape—only about 1% of the U.S. money supply and foreign exchange transactions. Despite their limited presence, a recent report from Standard Chartered and Zodia Markets indicates noteworthy potential for growth. This report, entitled “Stablecoins: The First
The regulatory environment for cryptocurrencies in Europe is undergoing significant changes with the introduction of the Markets in Crypto-Assets (MiCA) regulation. This framework aims to create a more structured approach to the governance of cryptocurrency assets, with particular emphasis on ensuring consumer protection and mitigating systemic risks within the financial system. One of the immediate
The Central Bank of Brazil (BCB) has recently introduced stringent regulations that will significantly impact the operations of centralized cryptocurrency exchanges within the country. The new mandate prohibits users from transferring stablecoins—referred to as “tokens denominated in foreign currencies”—to self-custodial wallets. This regulatory change emerges from a broader effort to establish a cohesive framework for
In recent months, the stablecoin market has experienced unprecedented growth, setting new records in market capitalization. The flurry of activity, as highlighted by a recent Bloomberg report, indicates that this segment of the cryptocurrency industry has expanded by a staggering 46% in 2024 alone. Stablecoins, known for bridging the gap between traditional financial systems and
In a strategic bid to cement its position as a premier financial and cryptocurrency hub, Hong Kong has initiated a proposal to implement tax exemptions specifically targeting hedge funds, private equity funds, and high-net-worth family offices. This initiative, reported by the Financial Times on November 28, is articulated in a comprehensive 20-page government document. The