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Crackdown Countdown: South Korea Tightens Grip on Crypto Exchanges
Hodl Topic
May 05, 2025
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 14.93M
Exchanges: 813
Market Cap: $2.94T (-1.30%)
24h Volume: $55.7B (+14.39%)
Bitcoin Dominance: 63.7%
Ethereum Dominance: 7.4%
ETH Gas Price: 0.29 Gwei
Fear & Greed Index: 49 (Neutral)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $94,418.62 | +1.61% | $1.88T | $21.01B |
Ethereum (ETH) | $1,804.33 | +2.27% | $217.84B | $9.86B |
Tether (USDT) | $1.00 | +0.01% | $149.37B | $42.81B |
BNB (BNB) | $590.25 | +1.30% | $83.16B | $1.35B |
Solana (SOL) | $146.41 | +0.30% | $75.87B | $1.84B |
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TRUMP/USDC – $11.24 (+1.00%)
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Fartcoin/SOL – $1.12 (+4.49%)
💹 Market Highlights:
Total DeFi Volume: $3.92B
Stablecoins Volume: $51.12B
Top Gainer: TURBO (+15.76%)
📈 Preview On Today’s News:
- Crackdown Countdown: South Korea Tightens Grip on Crypto Exchanges
- Tighter Reins on Crypto: UK FCA Invites Public to Shape Future Regulations
- Blockchain Oasis: Maldives Bets $9B on Crypto Future
Keep reading below for more!
Today’s News:
1)
Crackdown Countdown: South Korea Tightens Grip on Crypto Exchanges
South Korea’s Financial Services Commission (FSC) has introduced sweeping new regulations targeting cryptocurrency exchanges and nonprofits involved in digital asset transactions. These measures, aimed at boosting transparency and security, mandate stricter reporting and operational standards across the sector. The move reflects heightened regulatory vigilance in response to past security breaches and growing concerns over crypto market integrity. All impacted entities must comply by June, marking a decisive step in South Korea’s evolving digital finance framework.
South Korea's FSC now requires crypto exchanges and nonprofits to meet tougher transparency, reporting, and operational standards.
The June deadline signals a critical shift in national crypto policy, aiming to curb risks and reinforce market trust.
2)
Tighter Reins on Crypto: UK FCA Invites Public to Shape Future Regulations
The UK’s Financial Conduct Authority (FCA) is intensifying its oversight of the cryptocurrency market by inviting public feedback on upcoming regulatory proposals. Aiming to enhance transparency, market integrity, and consumer protection, the FCA is focusing on areas such as crypto trading, brokerage services, asset management, and decentralized finance. Recent initiatives include cracking down on misleading advertisements—cutting them by 50%—and proposing restrictions on crypto purchases via credit cards to reduce financial risk. This open dialogue reflects the regulator’s commitment to a safer and more sustainable digital asset ecosystem.
The FCA seeks public input on comprehensive crypto regulations, including trading, DeFi, and asset management, to bolster market integrity and trust.
Measures under review include banning crypto purchases via credit cards and ongoing collaboration with tech firms to combat fraudulent promotions and reduce consumer risk.
3)
Blockchain Oasis: Maldives Bets $9B on Crypto Future
In a bold economic shift, the Maldives has partnered with Dubai-based MBS Global Investments to launch a $9 billion blockchain and crypto hub. This landmark initiative aims to reduce the nation's dependence on tourism by positioning the island nation as a leading regional tech player. Finance Minister Moosa Zameer emphasized the project’s potential to attract global crypto investment, create thousands of jobs, and potentially triple GDP within four years. The announcement sparked a surge in crypto markets, underscoring investor confidence in the Maldives' ambitions to join the ranks of Asia’s tech-forward economies.
The Maldives government and MBS Global unveiled a $9 billion blockchain hub to diversify the economy and boost long-term resilience beyond tourism.
The project is expected to create thousands of jobs, attract global investors, and potentially triple the nation’s GDP within four years.
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