Kazakhstan has taken a strong stance against illegal cryptocurrency activity, shocking the world with its massive crackdown. Over 3,500 illegal crypto exchanges have been blocked, marking a major shift in the country's approach to digital assets. This move came after years of growing concern over unregulated crypto platforms operating within the country.

Bitfinex Derivatives will operate under Bitfinex Derivatives El Salvador S.A. de C.V., allowing the platform to offer its innovative trading services within the nation's progressive regulatory environment.

South Korea's financial regulator is looking to allow institutional investment in cryptocurrencies in stages, local media reported.

The global crypto market cap decreased by 6.41%, falling from $3.59T to $3.36T, reflecting widespread losses. Over $622 million worth of crypto positions were liquidated in the past 24 hours.

The move comes after the company secured a Digital Asset Service Providers (DASP) license. In a Jan. 7 statement, Paolo Ardoino, the Chief Technology Officer of Bitfinex Derivatives, described the relocation as a “defining moment” for the firm.

A federal judge has granted Coinbase's appeal request in the SEC lawsuit, pausing proceedings to address whether crypto transactions require investment contracts to be classified as securities. The ruling comes at a pivotal time for crypto regulation.

HashKey Group, a prominent Asia-based cryptocurrency financial services firm, has successfully obtained Virtual Asset Service Provider (VASP) registration approval from the Central Bank of Ireland through its European arm, HashKey Europe Limited (HEL).

China's top economic planner released a guidance to boost the development of a national data infrastructure with blockchain heavily involved.

Kazakhstan shut down 36 illegal crypto exchanges in 2024, seizing $112 million in assets and advancing Anti-Money Laundering efforts alongside its upcoming digital tenge launch.

Bhutan's mindfulness city is looking to add Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) to its strategic reserves,

Bhutan's Gelephu Mindfulness City has announced the inclusion of major cryptocurrencies in its strategic reserves while maintaining Bitcoin mining operations, currently holding $1.11 billion in Bitcoin despite recent sales.

Financial markets have been shaken by a wave of tension, causing a sharp correction in bitcoin (BTC) and major altcoins. In just a few hours, the flagship crypto fell below the critical threshold of $100,000, while Ethereum (ETH) collapsed below $3,400.

In a major update from South Korea, the Financial Services Commission (FSC) has expressed its desire to approve corporate investments in crypto assets. This marks a significant move for the crypto market, especially in South Korea where agencies are also contemplating strengthening the collaboration between financial holding companies and fintech companies.

At present, the most hyped collaboration is between Artificial intelligence and cryptocurrency, as traders flock to AI cryptos for profits. Two specific cryptos made one trader a multi-millionaire after they gave multiple-fold returns, bringing the total profit to $37M and counting.

In a move to bolster its presence in the European market, Backpack Exchange, a crypto trading platform established by former employees of Sam Bankman-Fried's FTX and Alameda Research, has acquired the European entity of the defunct FTX exchange for $32.7 million.

This marks a major milestone for the European crypto market. It sets the stage for Backpack's entry into Europe, with plans to launch in the first quarter of 2025.

El Salvador is one of the prominent crypto-friendly countries. It is the first in the world to make Bitcoin a legal tender. In 2023, it introduced a revolutionary law, called the Digital Assets Securities Law, boosting its efforts to become the global crypto hub.

Bitfinex Derivatives, the derivatives arm of crypto exchange Bitfinex, has obtained a Digital Asset Service Providers (DASP) license to operate in El Salvador. The post Bitfinex Derivatives Secures DASP License to Operate in El Salvador appeared first on Cryptonews.

Analyst and trader Kevin Svenson believes that the most explosive phase of the cycle for altcoins is still to come. In a new strategy session, Svenson tells his 81,300 YouTube subscribers that based on historic precedence the TOTAL3 chart may soon have an astronomical breakout.

Can this billionaire politician and billionaire change the momentum of the market? Vivek Ramaswamy's Asset Management firm has filed an application for an innovative Bitcoin Bond ETF. If approved, it could strengthen Bitcoin's appeal by boosting institutional demand and investment.

Ark Invest's digital assets director Yassine Elmandjra announced his departure after six and a half years, thanking Cathie Wood and the team. The post Ark Invest's Digital Assets Head Yassine Elmandjra Leaves the Firm appeared first on Cryptonews.

Exchange users must accept the terms and conditions under the new entity. The exchange obtained the El Salvador license in April 2023.

The crypto market experienced a major sell-off on January 7 amid rough economic data. The price of Bitcoin dropped drastically after topping $100K the day prior.

The controversy over crypto trading moves to the United States Court of Appeals for the Second Circuit.

In the last 24 hours, the cryptocurrency market has witnessed a damaging drop of 7.9%. Almost all the major cryptos have suffered the impact of the overall crypto market decline. Importantly, yesterday, the altcoin market sharply declined from $1.49T to $1.38T.

Key Points:

In a potentially major turn for crypto regulation in the US, Rostin Behnam, the Chairman of the US Commodity Futures Trading Commission (CFTC), has revealed his resignation, effective January 20, with his exit from the commission scheduled for February 7.

Recently AI-based projects have attracted investor's interest globally. The whole of December we have seen a drastic increase in AI projects with newer ones in the pipeline the market is already betting high on these technologically advanced projects which can give maximum return under Trump's leadership.

Eden Gallery argued that a class group of NFT buyers “may have buyers' remorse, but their losses, if any, are due to market forces.”

Yassine Elmandjra, director of digital assets at Ark Investment Management, is leaving the firm after six and a half years.

Investors looking for high and safe dividends today have many options. The JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) and Schwab US Dividend Equity ETF (SCHD) are some of the best options. JEPQ, a top covered call ETF, yields 9.4%, while the SCHD has a dividend yield of about 3.5%.

Kazakhstan regulator quoted that several illegal exchanges have recently played a key role in money laundering schemes. The post Kazakhstan Regulator Blocks 3,500 Unlicensed Crypto Exchanges Used By Criminals, Fraudsters appeared first on Cryptonews.

South Korean crypto exchanges are reportedly set to delist meme coins and so-called “kimchi coins” thought to be in the crosshairs. The post Traders Fear as South Korean Crypto Exchanges ‘Set to Delist Meme Coins, Kimchi Coins' appeared first on Cryptonews.

Binance introduces new perpetual trading options while facilitating Fantom swaps to SONIC. Binance Futures announced SONICUSDT perpetual contracts on Jan. 8, 2025, at 15:00 (GMT+8), offering up to 75x leverage.

Dubai-based cryptocurrency trading platform Backpack Exchange has finalized the acquisition of FTX EU, the former European arm of the collapsed FTX exchange, for US$32.7 million. The deal is aimed at bolstering Backpacks presence in the European market, particularly in the regulated crypto derivatives sector.

Bitfinex Derivates says its decision to relocate to El Salvador will help turn the country into a “financial services center” for Latin America.

The action reflects growing regulatory scrutiny of cryptocurrency transactions in Portugal. Fiat transactions to cryptocurrency platforms have been suspended by Investimentos Globais, one of Portugal's top banks.

Arthur Hayes, former CEO of BitMEX and now Chief Investment Officer at Maelstrom, has adjusted his outlook on the cryptocurrency market, predicting a peak in March 2025.

Rostin Behnam, Chair of the U.S. Commodity Futures Trading Commission (CFTC), will step down from his position on Jan 20 after a four-year term.

Web 2.0, as it's known, introduced us to social media networks like Facebook and MySpace and platforms like YouTube that empowered everyday internet users to easily publish their content. However, behind these exciting smartphone apps, embedded videos, and user-centric platforms, carefully constructed corporate frameworks tracked, analyzed, and monetized every user interaction.

Binance lists important dates and procedures for ending specific leveraged trading pairs. Binance has announced important dates and procedures for discontinuing specific leveraged trading pairs on its margin platform.

AI agents are set to outnumber humans on blockchain networks, signaling a transformative shift in crypto's future, according to some.

The cryptocurrency market has faced significant turbulence over the past 24 hours, resulting in liquidations worth $539.1 million (₩784.1 billion). According to data from Coinglass as of 8:28 a.m.

Pierre Poilievre is the frontrunner to become Canada's next Prime Minister after Justin Trudeau's resignation. He has pledged to make Canada a global hub for cryptocurrency and blockchain innovation.

A federal judge allowed Coinbase to file an interlocutory appeal in its SEC lawsuit, pausing the case and sending it to the Second Circuit Court of Appeals.

Is Poilievre the crypto champion Canada needs, and can he succeed where Trudeau struggled?

A US judge has temporarily halted proceedings in the legal case between Coinbase and the SEC, allowing the crypto exchange to seek a higher court's opinion on a pivotal legal question.

Stronger-than-expected U.S. employment and economic data have put downward pressure on the cryptocurrency market, with hopes for rate cuts in 2025 diminishing. Key economic indicators are sending mixed signals, rattling markets, and causing a steep pullback in crypto prices.