Quick Summary: South Korea’s People Power Party proposes abolishing a planned 20% crypto gains tax set for 2027, citing fairness, double taxation, and enforcement issues. South Korea’s main opposition party, the People Power Party (PPP), has introduced a bill to remove digital asset income provisions from the country’s Income Tax Act, seeking to eliminate a planned crypto tax before its scheduled 2027 implementation. The measure has already been delayed three times since it was first introduced.Under current rules, crypto gains exceeding 2.5 million Korean won would be subject to a 20% income tax plus a 2% local tax starting January…
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Quick Summary: US spot Bitcoin ETFs snapped a seven-day inflow streak with $163.5 million in outflows as Bitcoin fell below $71,000 on Wednesday. US spot Bitcoin ETFs recorded $163.5 million in outflows on Wednesday, ending seven consecutive days of inflows that had totalled $1.2 billion, according to Farside data. The Fidelity Wise Origin Bitcoin Fund led redemptions at roughly $104 million, followed by BlackRock’s iShares Bitcoin Trust ETF at $34 million.The outflows coincided with Bitcoin slipping below $71,000 after trading above $75,000 earlier in the week. The Crypto Fear & Greed Index briefly recovered to 26, or “Fear,” before falling…
Quick Summary: Crypto.com plans to lay off roughly 180 employees, about 12% of its workforce, as it integrates AI across its operations. Crypto.com is set to reduce its workforce by up to 12%, affecting approximately 180 of its roughly 1,500 employees. Kris Marszalek, the Singapore-headquartered exchange’s founder and CEO, announced the cuts on Thursday, warning that companies failing to adopt AI will not survive. The layoffs are described as part of plans to prioritize resources around key growth areas.The exchange recently launched AI agent platform ai.com on February 9 and became the first crypto platform to receive the ISO/IEC 42001:2023…
Quick Summary: A new Immunefi report finds five incidents alone accounted for 62% of $4.67 billion in crypto hack losses recorded in 2024 and 2025. A security report from Immunefi analyzing 425 publicly known incidents between 2021 and 2025 estimates the average hack now results in roughly $25 million in stolen funds. In 2024 and 2025, 191 hacks produced $4.67 billion in total losses, with just five incidents responsible for 62% of that figure.Centralized exchange breaches drove the majority of losses despite representing fewer incidents. Twenty exchange hacks accounted for approximately $2.55 billion, or 55% of the total, reflecting how…
Quick Summary: Tokeny has partnered with Polygon Labs to launch T-REX Ledger, a shared compliance blockchain targeting $100 billion in tokenized assets by 2027. Tokeny, part of Apex Group, has partnered with Polygon Labs to launch T-REX Ledger, a dedicated blockchain designed to serve as a shared compliance layer for tokenized real-world assets. The system allows investor eligibility checks and transfer restrictions to be stored centrally, so other networks can query them without repeating the process on each chain.The project addresses a gap in the ERC-3643 token standard, which supports compliant issuance of tokenized assets on Ethereum but does not…
Quick Summary: OP_NET is launching a DeFi platform built on native Bitcoin transactions, using only BTC as a fee asset and avoiding bridges or wrapped tokens. OP_NET is launching a decentralized finance stack it calls SlowFi, designed to run entirely on Bitcoin’s base layer using standard transactions and native BTC fees. The project avoids bridges, wrapped assets, and separate gas tokens, according to co-founder Frederic Fosco, who goes by Danny Plainview.Fosco says applications run through Taproot-based transactions, while the platform’s NativeSwap model supports token swaps without additional assets. Swap costs are estimated at $1 to $2 under normal conditions and…
Quick Summary: Long-term Bitcoin holders transferred over $117 million to exchanges as Middle East conflict disrupted Gulf energy infrastructure and pushed BTC down 5%. Two long-term Bitcoin holders moved significant funds to exchanges on Wednesday as escalating conflict in the Middle East rattled energy markets. A wallet identified as bc1ql sent 1,000 BTC, worth roughly $71 million, to Binance, according to blockchain data platform Arkham. The wallet originally acquired 5,000 BTC thirteen years ago.On the same day, early Bitcoin holder Owen Gunden transferred 650 BTC, valued at approximately $46 million, to exchange Kraken, his first major sale in five months,…
Quick Summary: The ECB is recruiting technical experts for two workstreams focused on integrating a digital euro with ATMs, payment terminals, and certification frameworks. The European Central Bank has opened applications for industry specialists to join two workstreams under its Rulebook Development Group, targeting the technical integration of a potential digital euro into existing payment infrastructure. The initiative covers ATM and terminal implementation as well as certification and approval processes for payment solutions.One workstream will address communication technologies, offline functionality, and compatibility with existing European payment standards. The second will develop testing and certification frameworks for payment service providers operating…
Quick Summary: The FTX Recovery Trust announces a $2.2 billion creditor distribution on March 31, 2026, bringing total payouts to roughly $10 billion. The FTX Recovery Trust announced Wednesday that it will distribute $2.2 billion to creditors on March 31, 2026. Eligible recipients will receive funds through their chosen distribution provider within one to three business days. A fifth payment round is scheduled for May 29, 2026.The fourth distribution includes an 18% payout for Dotcom Customer claims, a 5% distribution for US Customer Entitlement Claims, and a 15% distribution for both General Unsecured Claims and Digital Asset Loan Claims. Convenience…
Quick Summary: SEC Chair Paul Atkins says NFTs and digital collectibles are typically not securities, as they represent one-time purchases rather than investment contracts. SEC Chair Paul Atkins has clarified why nonfungible tokens generally do not qualify as securities, following the agency’s release of an interpretive framework identifying four categories of digital assets outside securities law. Speaking in a CNBC interview, Atkins listed digital commodities, digital tools, digital collectibles including NFTs, and stablecoins as assets typically excluded from that definition.Atkins described digital collectibles as items that are bought and held, much like physical collectibles, rather than functioning as investment contracts…
