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South Korea’s Financial Services Commission (FSC) is set to lift a long-standing ban on institutional crypto trading. This decision follows a surge in global market participation and increasing demand from domestic companies. Restrictions placed in 2017 aimed at curbing speculation and money laundering will now be eased, allowing more entities to engage in virtual asset transactions.
Non-profit organizations, including charities, universities, and law enforcement agencies, will be able to sell virtual assets by mid-year. Listed companies and professional investors will gain full access to crypto trading in the latter half of the year. The move aligns with regulatory developments worldwide, positioning South Korea as a key player in the evolving blockchain economy.
The enforcement of the Virtual Asset User Protection Act provides a framework for safeguarding investors. Authorities recognize that major economies are welcoming institutional participation in crypto markets. With this shift, South Korea aims to foster innovation and meet the growing demand for blockchain-related businesses.
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There’s endless shared trauma in crypto. But among the most common feels would be the kick to the guts that is buying a coin only to have it crash almost immediately.
Buyers of ETH ETFs are going through it right now.
They’re collectively down an estimated $1.16 billion on their capital to date, after contributing the bulk of their inflows when the price of ETH was closer to $3,300, or around 27% higher than it is right now.
To be clear, the share prices of the ETFs themselves more-or-less track the price of ETH. The losses referred to here point to the ETH value each fund holds…
Read more on Blockworks
According to its latest filing with the US Securities and Exchange Commission (SEC), Goldman Sachs has significantly increased its bitcoin ETF investments and is now holding over $1.5 billion. It has also reported an additional $760 million exposure to bitcoin ETF options.
The bank has been steadily buying more and more of the bitcoin ETFs and, showing growing institutional interest in bitcoin.
As of December 31, 2024 Goldman Sachs had $1.56 billion in these investment vehicles, up from $710 million in the previous quarter. That’s an increase of over 120%.
Most of Goldman’s Bitcoin ETF investment is in BlackRock’s iShares Bitcoin Trust (IBIT) where it holds 24.07…
Read more on bitcoinnews
Coinbase is making moves to re-enter the Indian market after halting operations over a year ago. The American crypto exchange is currently in discussions with Indian authorities, including the Financial Intelligence Unit (FIU), as it seeks regulatory approval. The comeback follows Binance’s successful return to India last year after complying with FIU regulations, setting a path for foreign exchanges to operate in the country.
Coinbase previously launched in India in 2022 with support for UPI but faced immediate regulatory hurdles, forcing a suspension within days. The Reserve Bank of India reportedly pressured banks against facilitating crypto transactions, making operations difficult. Despite regulatory challenges and high taxation on crypto transactions, Coinbase remains committed to India’s fast-growing web3 ecosystem and is working to secure the necessary approvals.
Paul Grewal, Coinbase’s Chief Legal Officer, recently joined the board of the U.S.-India Business Council, signaling the company’s long-term interest in the region. A successful return to India could reshape the country’s crypto landscape, offering a trusted global platform amid recent local exchange disruptions.
Robinhood’s crypto trading volume soared by 400% in the fourth quarter to $70 billion as Bitcoin’s rise past $100 000 energized investors driving total revenues to a remarkable $1.01 billion. The firm’s transaction-based revenue saw a significant leap of 200% year-over-year totaling $672 million with crypto trades contributing $358 million thanks to a 700% increase.
Amidst a broader market rally the trading platform’s performance marked a strong recovery from earlier declines in the year. The surge aligns with heightened institutional adoption and market anticipation of clearer US regulations which Robinhood CEO Vlad Tenev has actively advocated for enhancing crypto market accessibility.
Further bolstering its market position Robinhood expanded its offerings by adding new cryptocurrencies and launching features like Ethereum staking in Europe. Plans are also underway to introduce futures trading for commodities and Bitcoin showcasing the company’s commitment to innovation and its optimistic outlook on the digital assets space.