South Korea’s Financial Services Commission (FSC) has postponed its decision on whether to permit corporate investments in cryptocurrencies until 2025. This delay extends the ban implemented in December 2017, which prohibits institutions from holding, investing in, or purchasing virtual assets. Background: Since 2017, South Korean regulations have restricted corporate entities from engaging in cryptocurrency investments. The FSC had been reviewing plans to allow non-profit organizations, such as government ministries, public institutions, and universities, to open real-name accounts for virtual asset investments as an initial step toward broader corporate participation. Current Status: The FSC has deferred its decision, citing the need…
Author: Ícaro Armond
On January 15, 2025, Oklahoma State Representative Cody Maynard introduced the “Strategic Bitcoin Reserve Act,” aiming to position Oklahoma at the forefront of cryptocurrency adoption. This proposal seeks to authorize the state to invest in Bitcoin (BTC) as a hedge against inflation and to diversify its financial reserves. Key Aspects of the Proposal: Context and Regional Trends: Oklahoma’s initiative aligns with a broader movement among U.S. states exploring the incorporation of Bitcoin into their financial frameworks. States such as Texas, Pennsylvania, Ohio, New Hampshire, and North Dakota have introduced similar proposals, reflecting a growing interest in leveraging digital assets for…
On January 14, 2025, President Joe Biden signed an executive order aimed at advancing the United States’ leadership in artificial intelligence (AI) infrastructure. This directive authorizes the Department of Defense and the Department of Energy to lease federal land to private companies for the construction of AI data centers and clean energy facilities. The initiative seeks to enhance economic competitiveness, national security, AI safety, and the development of clean energy. The executive order stipulates that these AI data centers must utilize a significant proportion of U.S.-manufactured semiconductors, aligning with the administration’s broader strategy to bolster domestic chip production. Additionally, the…
In 2024, Real-World Assets (RWAs) emerged as a leading investment trend, ranking among the top three choices for investors seeking to diversify their portfolios and mitigate risks associated with traditional cryptocurrencies. The tokenization of tangible assets such as real estate, commodities, and bonds has enabled seamless integration into the blockchain ecosystem, offering investors exposure to traditionally illiquid markets. As of November 2024, the RWA sector has experienced significant growth, with a total value locked (TVL) of approximately $6.452 billion, reflecting increased investor interest and confidence in these asset-backed tokens. Looking ahead, 2025 is anticipated to be a pivotal year for…
Indian cryptocurrency exchange Mudrex has announced a temporary suspension of crypto withdrawals until January 28, 2025. This decision is part of the platform’s efforts to upgrade its compliance suite and enhance security measures to protect users from potential misuse of the crypto withdrawal feature. Background and Reasons for Suspension: Impact on Users: User Communication and Support: Mudrex has communicated these changes through official blog posts, providing detailed information on the reasons behind the suspension and the steps being taken to enhance platform security. Users are encouraged to complete any necessary compliance procedures to ensure a smooth experience once crypto withdrawals…
BlackRock Asset Management Canada Limited has introduced the iShares Bitcoin ETF on Cboe Canada, providing Canadian investors with a regulated avenue to gain exposure to Bitcoin. Trading under the tickers IBIT (CAD) and IBIT.U (USD), the ETF seeks to mirror Bitcoin’s price performance, minus expenses and liabilities. The fund employs a fund-of-funds strategy, investing substantially all of its assets in the U.S.-listed iShares Bitcoin Trust ETF, which holds long-term positions in Bitcoin. This structure allows investors to access Bitcoin through traditional brokerage accounts, eliminating the complexities associated with direct cryptocurrency custody. Helen Hayes, Head of iShares Canada at BlackRock, stated,…
Singapore has intensified its efforts against illegal online gambling by blocking access to Polymarket, a decentralized prediction market platform. Authorities have classified Polymarket’s activities as unlicensed gambling, leading to its inclusion among the over 3,800 illegal gambling websites blocked by the Ministry of Home Affairs (MHA) as of December 31, 2024. Background on Polymarket: Polymarket allows users to wager on the outcomes of various events, including political elections and financial markets, using cryptocurrency. While the platform positions itself as a forecasting tool, Singaporean authorities view its operations as gambling activities conducted without the necessary licenses. Singapore’s Regulatory Stance: Under Singapore’s…
The Markets in Crypto-Assets (MiCA) regulation, which came into full effect on December 30, 2024, marks a significant milestone in the European Union’s approach to cryptocurrency oversight. Designed to establish a unified regulatory framework across EU member states, MiCA aims to enhance consumer protection, ensure market integrity, and foster innovation within the crypto industry. Key Changes Introduced by MiCA: Implications for Investors: Implications for Companies: In summary, MiCA represents a transformative development in the EU’s approach to cryptocurrency regulation, aiming to balance the promotion of innovation with the need for consumer protection and market stability. Both investors and companies should…
Carlos Domingo, CEO of Securitize, asserts that integrating real-world assets (RWAs) into decentralized finance (DeFi) could expand the market by tenfold. Currently, tokenized treasuries represent approximately $4 billion of the $15.2 billion on-chain RWA market, excluding stablecoins. Analysts from VanEck and Bitwise project the RWA space could grow to $50 billion. Domingo estimates that the Treasury market could expand to $10 to $20 billion as stablecoins reach $200 billion. He sees this growth as realistic due to new product offerings and DeFi integrations expected in the upcoming year. Securitize has been actively working to bridge traditional finance with DeFi. In…
Circle, the issuer of the USDC stablecoin, has contributed 1 million USDC to President-elect Donald Trump’s inaugural committee. CEO Jeremy Allaire announced the donation, highlighting it as a significant milestone for digital currencies. “We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars,” Allaire stated. This contribution is part of a broader trend of substantial donations from major tech companies and executives to the Trump-Vance Inaugural Committee, which has set a fundraising goal…
