Koreans Turn to BTC and USDT Amid 15-Year Low Won-Dollar Exchange Rate
As reported by Binance, the South Korean won has reached a 15-year low against the dollar, leading many Koreans to seek refuge in cryptocurrencies such as Bitcoin (BTC) and Tether (USDT). The local crypto exchange Upbit is witnessing trades at a premium of 3-5%, indicating heightened demand. This shift underscores an increasing reliance on digital currencies as protection against currency devaluation amidst economic uncertainty.
Trump’s Crypto Embrace Overshadows New EU Digital Assets Rules
The Financial Times highlights how Donald Trump's pro-crypto stance could overshadow Europe's new regulations for digital assets. With Trump promising to make the U.S. "the crypto capital," companies like Binance are considering shifting focus from Europe due to its stringent Markets in Crypto-Assets Regulation (MiCA), which aims to safeguard investors post-crises involving firms like FTX.
FTX Execs Caroline Ellison and Ryan Salame Get Prison Time Shortened
Pymnts.com reports that former FTX executives Caroline Ellison and Ryan Salame have had their prison sentences reduced following fraud convictions related to the collapse of cryptocurrency platform FTX. While Sam Bankman-Fried faces a lengthy sentence for his role, both Ellison's and Salame's release dates have been moved forward significantly according to federal records.
Crypto Users Doubt IRS Decentralized Exchange Rules Have Teeth
A Bloomberg Tax article discusses skepticism among cryptocurrency users regarding upcoming IRS rules targeting decentralized exchanges. These platforms will be required to report transaction data under new regulations aimed at preventing tax evasion; however, experts question enforcement feasibility given these exchanges' lack of traditional tracking systems.
BexBack Exchange Retains USDT Trading with 100% Deposit Bonus and 100x Leverage for Anonymous Crypto Trading
An announcement via Morningstar reveals BexBack Exchange continues offering full trading capabilities for USDT despite regulatory pressures causing other platforms within the European Union to regionally delist it due to MiCA implementation concerns over liquidity accessibility issues affecting investor confidence levels globally across markets today.
Sources:
- Koreans Turn to BTC and USDT Amid 15-Year Low Won-Dollar Exchange Rate
- Trump’s crypto embrace overshadows new EU digital assets rules
- FTX Execs Caroline Ellison and Ryan Salame Get Prison Time Shortened
- Crypto Users Doubt IRS Decentralized Exchange Rules Have Teeth
- Can India Lead Crypto Regulation in 2025? Binance Thinks So
- BexBack Exchange Retains USDT Trading with 100% Deposit Bonus and 100x Leverage for Anonymous Crypto Trading
