Dunamu, the formidable parent company of UPbit, South Korea’s premier cryptocurrency exchange, has recently announced an extraordinary financial performance for 2024, boasting an impressive 85.1% increase in operating profit. This surge, which reached 1.19 trillion won (about $682 million), stands as a striking testament to the company’s ability to thrive even when submerged in regulatory
Regulation
In a striking move that has sent ripples through the cryptocurrency community, South Korea’s Financial Intelligence Unit (FIU) recently restricted access to 17 overseas crypto exchange apps on Google Play, citing the absence of proper registration. This step, aimed at safeguarding South Korean users from potential financial misdemeanors, raises intriguing questions about the balance between
In an unprecedented wave of legislative action, Arizona, Kentucky, and Oklahoma are accelerating the fight for Bitcoin rights, each taking significant strides towards acknowledging and protecting the burgeoning world of cryptocurrency. These states are not just promoting digital assets; they are actively enshrining the right to engage with Bitcoin within their legal frameworks. While this
Arthur Hayes, the co-founder of BitMEX, has ignited a fervor of optimism in the cryptocurrency market with his recent assertion that Bitcoin (BTC) is poised for a staggering climb to $110,000. This shift from his earlier prediction of a potential fall to $70,000 is not just a casual forecast; it’s a seismic rethinking based on
Australia is embarking on a significant journey toward nurturing a responsible and innovative digital asset landscape. The Treasury’s Statement on Developing an Innovative Australian Digital Asset Industry outlines a much-needed regulatory framework that aims to enhance consumer protection, mitigate risk, and inject clarity into a somewhat tumultuous sector. This proactive approach signals a commendable recognition
Germany has always prided itself on being a financial powerhouse in Europe. However, the recent rejection of Ethena Labs’ application to issue asset-referenced tokens under the European Union’s Markets in Crypto-Assets Regulation (MiCAR) has ignited conversations about the future of crypto innovation. The Federal Financial Supervisory Authority (BaFin) has taken a hardline stance, raising serious
In an era characterized by constant geopolitical instability, the call for a digital euro transcends mere convenience; it is a necessity for preserving Europe’s financial sovereignty. ECB Chief Economist Philip Lane recently articulated that a central bank digital currency (CBDC) could crucially mitigate risks associated with the exponentially growing use of stablecoins, particularly those tethered
North Dakota is making waves in the realm of cryptocurrency with its recently approved legislation that introduces a comprehensive framework to regulate crypto ATMs. House Bill 1447, now with Senate approval, signifies a much-needed alignment of digital currency operations with consumer protection, aiming to tackle the alarming increase in fraud linked to these machines. The
In an unexpected turn of events, fintech and cryptocurrency firms have taken decisive steps to secure banking licenses during the Trump presidency, effectively reshaping the regulatory landscape that traditionally favored established financial institutions. Industry insiders report a surge in applications for banking charters, a process that was notably sluggish prior to this regime. The shift
The recent announcement from SEC Acting Chair Mark Uyeda regarding the reconsideration of the proposed custody rule for investment advisers is not just a benign adjustment; it is a seismic shift in the regulatory landscape for cryptocurrency and digital assets. Originally instigated by former SEC Chair Gary Gensler, the rule sought to elevate investor protection