Cryptocurrency

Crackdown on Illegal Crypto Exchanges in Kazakhstan

Thursday. January 9 at 1:00 AM

1 min. read

Kazakhstan cracked down on 36 illegal cryptocurrency exchanges in 2024 as part of anti-money laundering efforts, a significant decrease from the previous year. The Financial Monitoring Agency of Kazakhstan announced the closure of these exchanges for operating without proper authorization, highlighting their role in facilitating money laundering through unverified fiat-to-crypto and crypto-to-fiat transactions. These exchanges had a total turnover of approximately $112.8 million, with assets worth $4.8 million seized by authorities. Despite this, licensed global exchanges like Binance and Bybit continue to operate legally in the country. Kazakhstan has shut down over 3,500 unlicensed exchanges in collaboration with government entities and plans to further combat crypto-related crimes by partnering with international organizations. Additionally, the country is developing its central bank digital currency, the digital tenge, in collaboration with Visa, Mastercard, and local banks for global usability.

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Analysis of Celestia's Price Decline

Thursday. January 9 at 8:00 PM

Celestia's (TIA) price has dropped significantly, decreasing by over 15% in the past 24 hours and nearly 40% in the last 30 days. With a market cap of $2.2 billion, bearish signals are prevalent in technical indicators, including a death cross formation, indicating the potential for further decline. While TIA is holding support at $4.54, market sentiment remains negative, requiring a breakthrough of $5.50 resistance for recovery. The Average Directional Index (ADX) for TIA has risen to 35.2, showing a strengthening downtrend. The directional indicators reveal a decline in buying pressure (+DI) and a surge in selling pressure (-DI), confirming seller dominance. Ichimoku Cloud analysis indicates a strong downtrend, with the recent death cross intensifying bearish momentum. TIA's price faces downward pressure unless buying interest increases. Breaking back into the cloud for recovery seems unlikely based on current indicators.

Cryptocurrency

Success of a Solana Trader in Cryptocurrency Investments

Thursday. January 9 at 7:00 PM

A Solana trader has gained attention for earning nearly $20 million each from $ai16z and $Fartcoin, boasting an 89.07% win rate over the last month. By investing early in low market cap cryptocurrencies, the trader has achieved significant profits, as indicated by on-chain data. Recent movements show a shift towards other low market cap cryptocurrencies. With the crypto industry flooded with numerous cryptocurrencies, selecting promising ones to invest in can be overwhelming. However, some investors like this Solana trader stand out with remarkable returns, making crypto investments seem effortless. Notably, the trader's success with $ai16z and $Fartcoin has been exceptional, with returns of 6,400x and over $18 million respectively. The trader's recent investments in tokens like $OPAIUM and others suggest a continued interest in high-risk, high-reward opportunities. Keeping an eye on these low market cap cryptocurrencies, particularly $OPAIUM, could prove beneficial.

Cryptocurrency

Oklahoma Senator Introduces Bitcoin Freedom Act

Thursday. January 9 at 3:00 PM

Oklahoma State Senator Dusty Deevers has proposed a bill, known as the Bitcoin Freedom Act, that would allow individuals in the state to receive their salaries in Bitcoin and permit vendors to accept BTC payments. Deevers believes that Bitcoin offers a way to safeguard earnings and investments against inflation. The proposed legislation, SB325, emphasizes voluntary participation, respecting free-market principles. It aims to establish a secure framework for Bitcoin use in Oklahoma and authorize its acceptance for transactions, salaries, and investments. Deevers commended President-elect Donald Trump's support for Bitcoin and highlighted the importance of embracing financial technology. The bill is set for consideration in the upcoming legislative session. Deevers also criticized central bank digital currencies for enabling government surveillance and control over transactions. Oklahoma has previously enacted laws to support blockchain firms and crypto mining activities, making it easier for Bitcoin miners to operate in the state.

Cryptocurrency

IMF Urges Kenya to Enhance Cryptocurrency Regulations

Thursday. January 9 at 2:00 PM

The International Monetary Fund (IMF) has recommended that Kenya establish a transparent and consistent regulatory framework for the cryptocurrency market to safeguard consumers and tackle risks associated with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). In a technical assistance report released on Jan. 8, the IMF emphasized the need for updated regulations in Kenya, as the current laws do not effectively govern crypto markets, leading to an increase in scams and illicit activities. The IMF advised Kenya to align its crypto regulations with international standards, such as the Bali Fintech Agenda, FATF Recommendations, and the FSB Global Regulatory Framework. Short-term recommendations include data analysis and collaboration among regulatory bodies, while medium to long-term suggestions involve implementing a legal framework and enhancing supervisory resources. The IMF also stressed the importance of engaging with foreign regulators to manage risks from international exchanges operating in Kenya.

Cryptocurrency