Cryptocurrency

Bybit Receives VASP Registration in Argentina

Saturday. August 17 at 12:00 AM

1 min. read

Bybit, a cryptocurrency exchange, has obtained registration as a virtual asset service provider (VASP) and card operator from Argentina’s Financial Information Unit (FIU). The VASP registration, introduced in March to align with Anti-Money Laundering and Combatting the Financing of Terrorism requirements, signifies Bybit's commitment to compliance. Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022, allowing users to withdraw funds in fiat currency. Despite halting operations in France and Canada due to regulatory issues, Bybit's registration in Argentina reflects the growing crypto adoption in the country. Argentina, ranked 15th globally for crypto adoption, has faced pressure from the FATF to regulate its crypto market. Recent legislation has provided tax amnesty on registered crypto assets, signaling a shift towards crypto-friendly policies in the region.

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Investing in Bitcoin: Expert Advice

Thursday. December 26 at 6:00 PM

Bitcoin (BTCUSD) has experienced significant growth this year, surpassing $100,000, with projections of further increases in the coming year. Despite this, financial advisors urge caution when considering investing in cryptocurrency, recommending only a small portion of one's portfolio be allocated to it. The Federal Reserve's indication of fewer rate cuts next year caused a temporary dip in bitcoin prices, but they have still more than doubled in value. Asset manager Blackrock suggests a 1%-2% bitcoin exposure in a portfolio, emphasizing the need for a limited allocation due to bitcoin's volatility. Experts like Malcolm Ethridge and David Rosenstrock advise on the potential risks and rewards of investing in bitcoin, highlighting the importance of understanding one's investment motives. Options for investing in bitcoin include direct purchases, ETFs, or shares in bitcoin-related companies, each with its own considerations. New investors are encouraged to explore ETFs as a beginner-friendly option, while experienced investors like Douglas Boneparth prefer direct ownership of bitcoin for greater control and security.

Cryptocurrency

Thailand's Crypto Progress and Bitcoin Tourism Proposal

Thursday. December 26 at 4:00 PM

In 2024, Thailand saw advancements in the crypto sector with the introduction of the Digital Asset Regulatory Sandbox. Former Prime Minister Thaksin Shinawatra suggested utilizing Bitcoin for tourism payments, highlighting his support for cryptocurrencies. Despite the potential benefits, the Bank of Thailand currently prohibits using Bitcoin for transactions, with digital assets regulated by the Securities and Exchange Commission. Thaksin emphasized the importance of embracing crypto trends for economic growth, proposing the issuance of stablecoins backed by government bonds. Statista projects a significant number of cryptocurrency users in Thailand, although the country has slipped in global adoption rankings. While Thailand faces regulatory challenges, discussions between regulatory bodies are crucial for future crypto experiments. Thaksin's vision for integrating Bitcoin into the economy reflects a growing interest in digital currencies, despite the need for regulatory clarity and alignment with global trends.

Cryptocurrency

Potential Cryptocurrency Surge with Trump's Second Term

Thursday. December 26 at 3:00 PM

The cryptocurrency market could experience a surge with Donald Trump's return for a second term. Under Republican leadership, there is a trend towards a business-friendly approach and deregulation, which may lead to increased adoption of digital assets. Tokens like Rexas Finance (RXS), Bonk, TRON, Dogecoin, and Hedera are expected to benefit from this shift. Rexas Finance aims to tokenize real-world assets like real estate and precious metals, offering utility in a Trump-led administration. With a total token supply of 1 billion, RXS rewards early investors and ensures stability in price. The project's Certik audit enhances investor confidence. As RXS enters its 10th presale stage, it has raised over $30 million, showing strong market interest. Other tokens like Bonk, TRON, Dogecoin, and Hedera also present growth opportunities in a potential Trump-driven rally. Rexas Finance's giveaway program and user-friendly purchase process make it an attractive investment option.

Cryptocurrency

Security Breach at Animoca Brands: Fake Token Promotion

Thursday. December 26 at 10:00 AM

Animoca Brands’ co-founder and executive chairman, Yat Siu, fell victim to a hack on his X account promoting a fake token called ANIMOCA. The official X account of Animoca Brands confirmed the incident and warned investors to avoid Yat Siu’s account. The hacker managed to compromise Yat Siu’s account and falsely announced a token launch by Animoca Brands. The price of the fake token skyrocketed by 500% in just five minutes before plummeting when the post was deleted. Yat Siu addressed the breach through a secondary account, revealing that the hacker bypassed 2FA security. Animoca Brands clarified that there was no official token launch and urged caution. This incident adds to a string of similar hacks in the cryptocurrency space, highlighting the ongoing issue of access control vulnerabilities.

Cryptocurrency