South Korea’s financial authorities issued guidelines on December 4, 2023 asking users to report unregistered cryptocurrency exchanges operating in their region. This order was created in an effort to control the market. This approach reflects South Korea’s ongoing attempts to simplify digital asset markets and protect investors from risks associated with unregulated virtual asset exchanges. The driving force behind this effort was Korea’s Financial Intelligence Unit (FIU) and the Digital Asset Exchange Association (DAXA). An important part of the regulatory system is handled by the Digital Asset Exchange Association (DAXA), which consists of the five major digital asset exchanges in…
Author: Crypto Flexs
Read More
Buying pressure for meme coins continued to be high. Market indicators have suggested that PEPE may witness a price correction. Pepper (PEPPER)One of the most popular meme coins, has shown promising performance over the past week. While the price of the meme coin soared, whales actually made a profit by selling a significant amount of the tokens. Does this mean whales are expecting PEPE to witness a price correction in the near term? Are PEPE whales for sale? Over the past week, PEPE has recorded double-digit growth, which looks promising. To be precise, the value of the meme coin rose…
You hodl’d, watched DOGE go to the moon and now want to buy stuff with Dogecoin. Today is your day. We’ve compiled a whole guide on who accepts Dogecoin and what you can buy.The DOGE Story: From Moon to MainstreamWhat started as a joke has become one of the most popular cryptocurrencies. Thanks to its fervent community, Dogecoin has gained mainstream adoption and continues to build its notoriety. Support from major companies and high profile enthusiasts like Elon Musk help, too. With the help of crypto cards, P2P payments, gift cards and online shopping, you can use Dogecoin to buy…
OpenSecrets researchers have found that the cryptocurrency industry is on track to set a new record for federal lobbying spending. The record spending comes after a year in which companies have struggled to restore their reputations and push for favorable legislation, according to Reuters. Cryptocurrency companies spent a total of $18.96 million during the third quarter of 2023. However, in the same period in 2022, it spent $16.1 million. Companies, including failed cryptocurrency exchange FTX, spent nearly $22 million on lobbying in 2022. Coinbase (COIN.O), the largest cryptocurrency exchange in the United States, ranked first again by spending $2.16 million,…
Bitcoin (BTC) has witnessed a massive profit-taking event that rivaled its all-time high of $69,000, a new analysis has revealed.James Van Straten, research and data analyst at cryptocurrency insights firm CryptoSlate, noted in a post on December 5 that billions of dollars are heading to exchanges.Bitcoin speculators are selling as if it has recovered from all-time highs.The BTC price rally recently reached a 19-month high, providing welcome rewards to holders across the board.While veterans have been maintaining their stake in the BTC supply, on the other end of the spectrum, so-called short holders (STHs) have been busy securing a return…
France’s third-largest bank, Societe Generale, reported that it has issued the first digital green bond as a security token on the Ethereum public blockchain. The bond, registered by Forge, a subsidiary of Societe Generale, was made public on November 30. The bond value is 10 million euros (about $11 million) and has a maturity of three years. “Green” status means that net proceeds are used to finance or refinance products and companies classified in the eligible green activity category. Related: Tether’s ‘new era of capital raising’ Bitfinex bonds stallThe bond’s digital infrastructure provides 24/7 public access to data on carbon…
New York State financial regulator Adrienne Harris argued that the “anonymity element” of cryptocurrencies creates an environment in which they can be used for illicit finance.Speaking at a panel Financial Times Crypto Winter Summit Harris, who oversees the New York Department of Financial Services (NYDFS), said cryptocurrencies “are actually a conducive environment for illicit finance and malicious actors.”“Someone still has to show up at the drop site,” Harris said, pointing out that paying the ransom in cash, for example, “is not the case with digital currency, even though there is an element of traceability.” ”Harris added that the issue of…
Ethereum price is rising above the $2,200 resistance level. ETH is up over 8% and may continue to rise towards the $2,500 resistance in the coming days. Ethereum is picking up speed and recently broke above the $2,250 resistance level. The price is trading above $2,200 and the 100-hour simple moving average. The hourly chart of ETH/USD (data feed via Kraken) shows a major bullish trend line forming with support near $2,225. A break above the $2,275 resistance area could extend the rally. Ethereum price follows Bitcoin Ethereum price started a major rally above $2,000, similar to Bitcoin. ETH cleared…
Web3 developer platform Thirdweb has disclosed major security vulnerabilities discovered in its open source libraries.this vulnerability, a fact that Thirdweb learned on November 20, has implications for several NFT collections, particularly the pre-built smart contracts it offers. However, the company did not clarify which specific collections might be affected.OpenSea, one of the largest NFT trading platforms, responded and noted that some NFT collections on its platform were affected. OpenSea said it is working with these collections to mitigate security concerns. “We have reached out to Thirdweb regarding a security vulnerability affecting some of our NFT collections. Stay tuned for more…
Bitcoin (BTC) and Ethereum (ETH) surged past their respective overhead resistance levels on December 4, indicating that the bulls are in no mood to slow down. The higher the price goes without any meaningful correction, the greater the feeling among traders that they are missing out. When traders pursue price increases, this can lead to explosive highs before a correction begins.Cryptocurrency exchange Bybit said in its fourth quarter report that institutional traders hold 35% of their assets in Bitcoin, 15% in Ethereum, and most of them hold 45% of their assets in stablecoins. Only a very small 5% is held…