South Korea’s government and ruling party reportedly agreed on a proposal to cap major shareholder stakes in crypto exchanges at 20%, with limited exemptions for new operators. South Korea’s government and ruling party have reportedly agreed on a plan to cap the ownership stakes of major shareholders in domestic crypto exchanges at 20%. The Democratic Party of Korea’s digital asset task force and the Financial Services Commission (FSC) agreed to set the maximum shareholding limit at 20% after discussions, according to a Wednesday report by local media outlet Herald Economy. However, regulators may allow exceptions of up to 34% for new businesses through an enforcement decree. The threshold references the Commercial Act’s 33.3% veto threshold in general shareholders’ meetings, per the report. Read more
XRP analysts highlighted the potential for a rebound to $1.95 as the price broke above a symmetrical triangle amid persistent institutional demand. XRP (XRP) price is up 5.5% over 24 hours and 3% in seven days, trading around $1.40 on Wednesday. This puts XRP in a position for further gains backed by several market and technical factors, according to analysts. Key takeaways: XRP’s potential to rise to $1.95 is backed by persistent demand from US-based ETFs. Read more
A symmetrical triangle breakout and an unfilled CME gap are boosting the case that Bitcoin may revisit $80,000 in March. Bitcoin (BTC) bulls are eyeing a move back toward $80,000 in March, with at least three indicators flashing increasing upside momentum. Key takeaways: Bitcoin jumped by over 5% toward $72,000 on Wednesday. Read more
In a first for crypto, Kraken’s banking unit gained access to the US Federal Reserve’s payment system, Fedwire, though without full banking privileges such as interest on reserves. US cryptocurrency exchange Kraken’s banking unit has been granted a limited-purpose master account by the US Federal Reserve Bank of Kansas City, giving it direct access to the Fed’s core payments system in a first for the crypto industry. Kraken Financial, the exchange’s banking unit, has gained access to the Fed’s payment system, Fedwire, allowing it to move money on the same rails used by banks and credit unions, according to an announcement on Wednesday. The Federal Reserve Bank of Kansas City approved a limited-purpose account for Wyoming-based Payward Financial as a “Tier 3 entity,” according to a statement by the bank. Read more
TRM said a post-strike spike in Nobitex wallet activity looked like routine liquidity moves, even as Chainalysis flagged higher outflows from Iranian exchanges overall. Nobitex, Iran’s biggest crypto exchange, showed no signs of a sustained, user-driven run after US-Israeli strikes on Iran, even as blockchain data indicated a brief spike in activity and higher outflows from Iranian exchanges more broadly, according to separate analyses from TRM Labs and Chainalysis. The TRM report, which examined onchain activity around Nobitex after US-Israeli strikes on Iran began on Feb. 28, found that the platform recorded a noticeable increase in activity in the immediate aftermath, including transfers exceeding $35 million from hot wallets to cold storage. However, TRM said the transfers were likely part of the exchange’s internal treasury operations. “Based on historical behavior and wallet attribution, these movements aligned with routine liquidity management rather than user-driven withdrawals,” the report said. Read...
The international watchdog says P2P stablecoin transfers via self-custody wallets can bypass AML checks and urges countries to assess risks and apply proportionate safeguards. Peer-to-peer transfers made through self-custody crypto wallets are a key weak point in the stablecoin ecosystem because they can take place without a regulated intermediary, the Financial Action Task Force (FATF) said in a new report urging countries to tighten oversight as stablecoins spread into payments and cross-border transfers. In its report on stablecoins, unhosted wallets and P2P transactions, the global anti-money laundering watchdog said transactions conducted directly between users through unhosted wallets can occur without regulated intermediaries such as exchanges or custodians. The FATF said this structure can create gaps in Anti-Money Laundering (AML) oversight because the transactions occur outside the attention of entities required to monitor activity and report suspicious transfers. The report highlighted growing regu...