Category: crypto

South Korea has tightened control over companies transferring crypto assets overseas with a new amendment to the Foreign Exchange Transactions Act. The amendment requires firms handling cross-border virtual asset transfers to register with the finance minister. Additionally, a 22% tax on crypto gains is set to be implemented from 2027.

ECB President Christine Lagarde opposes euro stablecoins due to risks to financial stability and monetary policy transmission. She supports tokenized settlement systems like Pontes and Appia over privately issued stablecoins. Lagarde warns against replicating US dollar stablecoin models in Europe, advocating for public infrastructure supported by central bank money instead.

Cloudflare’s shares dropped 18% after announcing plans to cut 1,100 jobs for an AI-focused restructuring. Despite beating Q1 revenue and EPS expectations, investors were concerned about the layoffs and softer revenue guidance. The move reflects a larger trend in the tech industry towards automation and AI tools, with companies like Amazon and Microsoft also cutting…

Upbit will add Pharos to its KRW, BTC, and USDT markets on May 8, giving Korean traders access to PROS. PROS saw a 47.8% increase in price to $0.9457 after the listing. Trading volume for Pharos rose by 209.6% to $28.7 million. The token has a market cap of $127.5 million and is ranked #255…

NSW police seized 52.3 BTC worth $5.7 million in a dark web-related crypto bust. Two men were arrested after a 15-month investigation. AUSTRAC’s stricter rules on VASPs, including AML compliance, are tightening. The seizure is part of a global trend of law enforcement cracking down on crypto-related crimes and unregulated exchanges.

In April, Taiwan’s stock market saw a strong rally fueled by artificial intelligence, particularly in semiconductor and technology shares. The TWSE Index climbed 22.7%, with technology stocks dominating trading activity. This growth was supported by strong export demand and economic growth, especially in the AI-related sectors.

Mobile zero-days and SDK flaws are eroding trust in secure wallets, leading users to adopt isolated, multi-device signing to minimize the impact of vulnerabilities. Recent incidents, such as the EngageSDK bug and DarkSword iOS exploit, highlight the risks posed by underlying device and SDK vulnerabilities, prompting a shift towards more secure signing environments.

Acting US Labor Secretary Sandlin supports earlier Fed interest rate cuts, conflicting with the cautious approach of the central bank. This has implications for crypto trading, with a potential bullish outlook in the medium term. Despite political pressure for easing, Fed guidance and data suggest rates will stay higher for longer, impacting crypto markets.

Hong Kong’s SFC warns investors about unlicensed virtual asset platforms, including HabitTrade. The broker denies conducting regulated business in Hong Kong and blames third-party promoters for unauthorized marketing. The SFC has tightened rules around virtual assets, warning firms against targeting Hong Kong investors without a license. HabitTrade’s response reflects legal and reputational concerns.

The MegaETH Foundation has started a MEGA token buyback program funded by revenue from its stablecoin USDm. The first buyback was completed using earnings through April. Future buybacks will be tied to USDm supply and yield. This program aims to support MEGA’s price and scarcity by recycling stablecoin revenue into the native token.