Lawmakers from South Korea are pushing to enshrine stricter regulation of digital assets in the wake of a gruesome murder case involving digital assets. According to a May 18 Bloomberg report, a Korean woman was abducted on March 29 and later murdered in a dispute believed to have stemmed from a disagreement over cryptocurrency-related losses…
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Within 11 days in March, four banks in the United States and one in Switzerland collapsed. First Republic Bank followed in May. Three of the four largest-ever U.S. bank failures occurred in those two months. It was a painful reminder that banks bear significant risks that can quickly spill over to other industries. Ironically, despite…
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The United States Securities and Exchange Commission (SEC) believes Filecoin’s native FIL token is a security, crypto asset manager Grayscale Investments has revealed. According to the May 17 announcement, Grayscale lodged an application with the regulator to launch a Filecoin Trust product on April 14, which would provide investors with indirect exposure to the underlying…
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Pakistan will ban cryptocurrency services operating in the country and never legalize crypto trading, Minister of State for Finance and Revenue Aisha Ghaus Pasha said at a session of the Senate Standing Committee on Finance and Revenue on May 16, according to multiple local media reports. Other officials, including State Bank of Pakistan (SBP) Director…
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In this week’s newsletter, read about the United States Secret Service’s nonfungible token (NFT) collection, and how Elon Musk’s tweet caused a surge in an NFT collection’s floor price. Check out how someone tried to sell an image for Bitcoin (BTC) months before the infamous Bitcoin Pizza Day, and learn about LG’s new patent for…
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Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term. Source link
Singaporean cryptocurrency exchange Crypto.com recently launched an update to its DeFi wallet service enabling support for fiat-to-crypto purchases in more countries and three new tokens. In a blog post published on May 16, the company announced the addition of Polygon (MATIC), USD Coin (USDC), and Dai (DAI) to Crypto.com Pay, a fiat-to-crypto on-ramp service enabling…
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Bitcoin (BTC) price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite as governments seek more control over the sector. In a memo circulated among committee members,…
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A Greenland Holdings subsidiary is applying for a virtual asset trading license in Hong Kong, the South China Morning Post reported. It is the first state-owned Chinese company to do so. Greenland Financial Technology Group CEO James Geng Jing told the Hong Kong newspaper that a new company dedicated to virtual asset trading would be…
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Bitcoin (BTC) is entering a new “speculation cycle” typical of a bull run, new analysis says. In a tweet on May 16, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite Decentrader, revealed history repeating itself according to the RHODL Ratio metric. RHODL Ratiocreator on BTC price: “Zoom out” RHODL Ratio is…
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