The money was aimed primarily at buying foreign crypto assets with the intention of selling them on the domestic market. In 2022, the citizens of South Korea transacted $4.3 billion (5.6 trillion Korean won) through ‘illegal’ crypto exchanges, according to local sources. The country’s government has been especially attentive toward such money movement amid the...Continue Reading

The new administration will replace the current banking and insurance watching that coincides with a larger government overhaul. The Chinese government has plans for a governmental overhaul, according to a new announcement. This includes introducing a new national financial regulator. On Tuesday, March 7, the government announced that its current banking and insurance watchdog, the...Continue Reading

Crypto-related scams in Hong Kong reportedly accounted for over 50% of the total $407 million stolen from city residents in tech crimes in 2022. Some countries worldwide suffered bigger financial losses to cryptocurrency scams despite a massive bear market in 2022. Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars...Continue Reading

The Utah State Legislature passed the Utah DAO Act, granting DAOs legal recognition and limited liability protections. The Utah State Legislature passed Act HB 357, the Utah Decentralized Autonomous Organizations Act (Utah DAO Act). This new law provides legal recognition and limited liability to DAOs, legally framing them as “Utah LLDs.“ The act resulted from...Continue Reading

Bitcoin short-term holders have been getting active, and their profitability may be underscoring current support and resistance levels, Glassnode reveals. Bitcoin (BTC) would need to return below $20,000 to reset a key metric which covers speculative profit-taking, data shows. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode revealed that...Continue Reading

Boost your financial literacy with nine essential terms. From interest to assets, improve your money management skills. Financial literacy is a critical life skill that can have a significant impact on an individual’s financial well-being and overall quality of life. It is important for individuals to continuously educate themselves on financial terms and concepts to...Continue Reading

Argo’s daily Bitcoin production rate in February surged 7% despite a 10% month-over-month increase in average network difficulty. Publicly-listed Bitcoin (BTC) mining firm Argo Blockchain has increased its daily BTC production despite a significant spike in network difficulty. During the month of February, Argo mined a total of 162 of Bitcoin or BTC equivalents, translating...Continue Reading

Crypto exchange Algodex and wallet provider MyAlgo have both suffered security breaches in the last few weeks. Algorand-based wallet provider MyAlgo has again urged users to withdraw their funds after a February security breach which doesn’t appear to have been resolved. Update: Funds are still being actively drained from MyAlgo users. https://t.co/fzkS9PFkAm pic.twitter.com/cgrWigu2Wn — ZachXBT...Continue Reading

Brian Armstrong said centralized firms have a responsibility to monitor transactions and carry out Anti-Money Laundering checks. Coinbase CEO Brian Armstrong has hinted that the firm’s new layer-2 blockchain network Base may be subjected to transaction monitoring and Anti-Money Laundering measures at launch. In an interview with Joe Weisenthal on Bloomberg Radio on March 6,...Continue Reading

The SEC claims the transactions involved with redistributing the funds to impacted Voyager account holders will trigger U.S. securities laws. The United States Securities Exchange Commission (SEC) won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy tokens to help repay impacted customers, bankruptcy judge Michael Wiles has said....Continue Reading