Category: crypto

South Korea is finalizing a new digital asset act by January, with ruling and opposition parties agreeing on a bank-led consortium model for issuing KRW stablecoins. The legislation aims to tighten financial security rules, expand AML oversight, and support capital market transparency. The government faces a Dec. 10 deadline to submit the proposal.

North Korea has been developing AI capabilities for nearly 30 years to accelerate crypto theft operations, using banned GPUs for research. The country’s AI research focuses on facial recognition, voice synthesis, and data optimization. The report warns that AI automation could lead to industrial-scale crypto theft, with potential real-time surveillance systems.

Upbit will resume digital asset deposits and withdrawals on December 1 at 1:00 PM KST after a $37 million hack targeting Solana-based assets. All existing deposit addresses have been deleted, and users must issue new addresses before depositing funds. The exchange covers all user losses from corporate reserves and warns of potential delays if old…

BitMEX co-founder Arthur Hayes warned that Tether’s risky interest rate trade could threaten USDT solvency if markets move against the stablecoin issuer. Tether holds $9.86 billion in Bitcoin and $12.92 billion in precious metals, with a 30% drop in these holdings potentially erasing its equity cushion. Tether also shut down its mining operations in Uruguay.

Solana spot ETFs saw a net inflow of $5.37 million on November 28, breaking a 21-day losing streak. Despite the increase in ETF inflows, Solana’s price remained below $140. Cumulative ETF inflows reached $618.59 million. Grayscale and Fidelity led the inflows, while Bitwise, VanEck, and Canary had no activity.

Arthur Hayes maintains his prediction of Bitcoin reaching $250,000 by the end of the year and believes the recent dip to $80,600 was the market bottom. He explains that ETF flows were not true institutional demand but basis trades unwinding, and improved dollar liquidity supports his bullish outlook. Hayes also expects bank lending to drive…

Biometric security is being increasingly adopted by crypto platforms to combat digital threats. Technologies like eKYC, Face2Face, and liveness tests are used to verify users remotely and prevent fraud. Trust Stamp is seeking approval for a biometrically secured crypto wallet. Hardware wallets also provide high-level security for storing private keys offline. Both biometric and hardware…

House Judiciary Committee Democrats are accusing President Donald Trump of using the presidency to profit from cryptocurrency, with his family allegedly amassing billions in assets and over $800 million from token sales. Foreign governments and corporate allies reportedly invested in Trump-branded crypto projects in exchange for regulatory favors. Rep. Jamie Raskin is calling for reforms…

Visa has partnered with Aquanow to enhance stablecoin settlement capabilities in the CEMEA region, allowing for faster, more cost-effective transactions. This builds on Visa’s successful 2023 stablecoin pilot and meets the increasing demand for efficient cross-border transactions. Visa’s stablecoin settlements have reached a $2.5 billion annual run rate, showcasing their success in digitizing money movement.

Nasdaq ISE wants to increase the trading cap for BlackRock’s iShares Bitcoin Trust ETF (IBIT) options from 250,000 to 1 million contracts due to high demand. Deribit holds the record in BTC options open interest with nearly $50.27 billion, but Nasdaq ISE is catching up with growing institutional demand for IBIT options.