South Korea’s Ministry of SMEs and Startups announced Wednesday that it plans to lift restrictions preventing crypto-related businesses from qualifying as venture companies. Currently, firms operating in the “virtual asset” sector are excluded from the government’s venture classification, which limits their access to various tax breaks and financial support. The ministry said the proposed amendment…
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Key points: The US dollar index (DXY) is below its yearly moving average and more than six points below its 200-day equivalent. Bitcoin should stand to benefit from the trend thanks to its traditional inverse correlation to DXY. BTC price action has yet to follow historical precedent on the dollar this time. Bitcoin (BTC) stands…
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A coalition of crypto advocacy groups threw its weight behind a federal lawsuit challenging US Department of Justice (DOJ) efforts to prosecute open-source software developers under money transmission laws. Crypto investment firm Paradigm, the DeFi Education Fund, Blockchain Association, Crypto Council for Innovation and others filed an amicus brief on Monday in support of Michael…
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New Zealand has announced a ban on cryptocurrency ATMs and a cap on international cash transfers, moves officials say are part of a broader effort to disrupt money laundering and organized financial crime. In a Wednesday announcement, Associate Justice Minister Nicole McKee unveiled the measures as part of the government’s overhaul of its Anti-Money Laundering…
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Traders are cautious about buying Bitcoin at its current level, as the cryptocurrency is struggling to find the strength to break above its all-time high of $111,970, according to Bitfinex analysts. “Bulls are hesitant or unable to push prices significantly higher without fresh catalysts or clearer macro signals,” Bitfinex analysts said in a markets report…
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The US has charged two men, alleging they operated and promoted a crypto investment scheme called OmegaPro that defrauded investors out of over $650 million. The Department of Justice said on Tuesday that it unsealed an indictment in a federal court in Puerto Rico against Michael Shannon Sims — an alleged founder, strategic consultant and…
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Mainstream media coverage of Bitcoin and crypto in the second quarter was polarized and lacking in volume despite the cryptocurrency reaching an all-time high, says market intelligence firm Perception. There were a total of 1,116 articles published by 18 mass media outlets in the second quarter, which revealed a “deeply polarized narrative landscape” in media…
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Crypto traders are becoming increasingly bullish on social media over Bitcoin’s chances of reclaiming $110,000, but the surge in optimism isn’t always a good sign, says blockchain analytics platform Santiment. “It’s pretty clear that the crowd is starting to salivate over a potential $110K+ Bitcoin market value,” Santiment analyst Brian Quinlivan told Cointelegraph. Bullish Bitcoin…
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The US Treasury has sanctioned two people and four entities involved in what it says was a North Korea-run IT worker ring that would infiltrate crypto companies, aiming to exploit them. The Treasury’s Office of Foreign Assets Control (OFAC) said on Tuesday that it sanctioned the North Korea-based Song Kum Hyok for allegedly stealing US…
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Key takeaways: Bitcoin’s monthly outflow/inflow ratio has dropped to 0.9, signaling renewed long-term confidence and accumulation. Despite aggressive short-side pressure on Binance derivatives, BTC has remained in a tight range between $100,000 and $110,000. Over 19,400 BTC were moved into institutional wallets, indicating strategic positioning by long-term holders. After breaking above the $100,000 level on…
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