Taiwan tightens crypto regulations with new AML rules

The Financial Supervisory Commission (FSC) of Taiwan is taking significant steps to tighten regulations on the cryptocurrency industry. On 30 November 2024, new anti-money laundering (AML) rules come into effect, signalling the country’s commitment to combating fraud and enhancing transparency within its virtual asset sector. Taiwan’s new AML rules Cryptocurrency is a rapidly evolving space,…

BSP tightens rules for locally licenced crypto exchanges

The Bangko Sentral ng Pilipinas (BSP) has issued a draft circular with intentions to tighten rules for locally licenced crypto exchanges. The circular calls for new reporting and notification requirements for Virtual Asset Service Providers (VASPs) under Section 902-N of the Manual of Regulations for Non-Bank Financial Institutions. These updates are aimed at improving how…

Coins.ph and Yield Guild Games team up to unveil Launchpool

Coins.ph, a crypto exchange in the Philippines, has partnered with Yield Guild Games (YGG) to launch an innovative product called Launchpool. Announced during the YGG Play Summit, Launchpool enables users to earn token rewards by locking YGG tokens and stablecoins, making it easier for everyday users to participate in the Web3 economy. The initiative is…

Bitcoin Approaches $100K: Analyzing Market Trends And Risks

Earlier this week, Bitcoin (BTC) encountered a significant obstacle at the $100K level, with around $300 million in sell-side liquidity hindering further gains. Bitcoin’s recent price momentum has ignited a heated debate among market analysts. Traders are divided on whether BTC will experience a deeper pullback or surge past the $100K milestone, driven by confident…

Donald Trump picks Scott Bessent for treasury secretary role

U.S. President-elect Donald Trump announced Scott Bessent, a prominent hedge fund manager and cryptocurrency advocate, as his pick for Treasury Secretary, marking a significant moment in U.S. economic policymaking. This decision reflects Trump’s ambition to reshape the nation’s financial landscape by embracing innovation, including the growing influence of digital currencies. Scott Bessent is a seasoned…

South Korean crypto market experiences unusual trading volumes

The South Korean crypto market has been buzzing with unprecedented activity this week, as trading volumes in XRP and Dogecoin (DOGE) surpassed Bitcoin (BTC) on major local exchanges. This sudden shift has sparked curiosity among traders and analysts alike, with many speculating on the causes and implications of such a trend. Rising popularity of XRP…

Nepal’’s financial intelligence unit unveil crypto-related scams

Nepal’’s Financial Intelligence Unit (FIU), a crucial arm of the Nepal Rastra Bank, has flagged an unsettling trend: cryptocurrencies are increasingly being used for cyber-related frauds. In its Strategic Analysis Report issued on November 18, the FIU highlighted a surge in crypto-driven fraud cases, underscoring the challenges in tracing illicit activities. Details of fraud A…

FanDuel’’s ex-founders introduce crypto sportsbook BetHog

Bitcoin has reached record-breaking heights after President-elect Donald Trump‘s recent election victory, crossing the $85,000 mark for the first time. This surge highlights investor optimism about a potential shift towards more relaxed regulations under the upcoming administration. Meanwhile, the spotlight in the crypto world has also shifted to BetHog, a new crypto sportsbook and casino…

Trump’’s World Liberty Financial sells over 1 billion tokens

Donald Trump-backed crypto venture World Liberty Financial (WLFI) has reached a milestone, raising around $15 million so far after surpassing one billion tokens sold on Election Day. World Liberty Financial released a ‘Gold Paper,’ which highlighted the project’s goals, rules and intentions that included the supply of 20 billion tokens upon launching. However, the project…

Binance bets big on Thailand for crypto expansion

Crypto-friendly regulations in Thailand have lured Binance to prioritise the country as a key market to reach its mission of one billion users. Citing Binance chief marketing officer Rachel Conlan, Binance eyes Thailand as a key market for its goal amid a push to turn crypto into a mainstream currency. Thailand is among the top…