The United Arab Emirates took a step toward aligning its digital asset policies with international tax standards after signing the Multilateral Competent Authority Agreement on the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF). The UAE’s Ministry of Finance (MOF) announced the agreement on Saturday, formalizing the UAE’s commitment to implementing the Organisation…
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South Korean authorities flagged a record number of suspicious crypto transactions this year, with total numbers reportedly already surpassing combined figures from the past two years. Citing Financial Intelligence Unit (FIU) data provided to Representative Jin Sung-joon and the Korea Customs Service (KCS) statistics, Yonhap News reported that local virtual asset service providers (VASPs) filed…
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The United Kingdom’s top financial regulator has outlined new proposals for how existing financial rules should apply to cryptocurrency firms, marking the next step in creating a regulatory framework for the sector. The Financial Conduct Authority (FCA) published a consultation paper Wednesday setting out minimum standards that crypto firms will need to meet once the…
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Solana-based corporate treasuries have surged past $4 billion as companies continue to accumulate the cryptocurrency, according to new data. Data from the reserve tracker, Strategic Solana Reserve, showed on Tuesday that Solana treasuries hit 17.11 million tokens, worth $4.03 billion at current prices. The reserves account for nearly 3% of Solana’s (SOL) circulating supply of…
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Crypto investment products reversed their recent outflow trends last week, with Bitcoin, Ether and Solana exchange-traded products (ETPs) recording significant inflows. Global crypto ETPs saw $3.3 billion in inflows last week, lifting overall assets under management (AUM) to $239 million, near the record high in August. Last month, crypto ETPs saw an all-time high AUM…
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Spot Bitcoin exchange-traded funds (ETFs) saw strong demand this week, recording more than $1.7 billion in inflows before the trading week closes on Friday. SoSoValue data showed that the ETFs had a strong week, with Wednesday having nearly $800 million in inflows. As of Thursday, the ETF tracker showed that spot Bitcoin ETFs already had…
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A public petition calling on the United Kingdom to develop a pro-innovation strategy for blockchain and stablecoins has gained momentum following a push from crypto exchange Coinbase. The petition, hosted on the UK government’s website, calls for a comprehensive framework that includes stablecoin regulation, blockchain adoption and the appointment of a blockchain “czar.” Although launched…
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European asset manager CoinShares has entered into a definitive business combination agreement with Vine Hill Capital Investment, a publicly traded special purpose acquisition company (SPAC). CoinShares announced Monday that the company will be publicly listed on the Nasdaq Stock Market in the US through the deal. This will allow investors to participate directly in trading…
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Crypto venture capital company Sora Ventures announced a $1 billion Bitcoin treasury fund, and said it plans to acquire the full amount within six months. On Friday at Taipei Blockchain Week, Sora Ventures founder Jason Fang unveiled what he called “Asia’s first $1 billion Bitcoin treasury fund” during a discussion titled, Introducing BTC Strategy into…
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Trading company and market maker Wintermute asked the United States Securities and Exchange Commission (SEC) to confirm that network tokens should not be classified as securities. In formal feedback to the agency’s request for comment, the company said clear guidance on the security status of tokens is necessary to avoid the misapplication of securities laws…
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