🏓 South Korea blocks crypto exchanges

Hi, Folks! Today, we will talk about the latest crypto exchange blocks and attempts to launch ETH options in CME

Your Favorite Crypto Digest From TradeCrypto.com #107

The statistics:

Market is red. BTC is now trading above $22,800, ETH is trading around $1,800.

💪 Bitcoin dominance: 41.1%

📉 Total Cryptocurrency Market Cap: $1.061 tr

😲 Fear and greed index: 42 (Fear)

🚀 Gainers(Top-100)

  • Gnosis (GNO)+6.48%

  • USDD (USDD)+0.06%

  • Binance USD (BUSD)+0.03%

😭 Losers(Top-100)

  • Filecoin (FIL)-17.96%

  • Lido DAO (LDO)-16.57%

  • STEPN (GMT)-15.22%

Aussies buy fuel and chips with crypto across 175 fuel outlets

Wow, it hasn't even been a year. Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support 🤝 across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Thursday.

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As previously reported, the move is part of a collaboration between OTR, Singapore-based exchange 💱 Crypto.com and DataMesh, a Sydney-based payment systems provider. The exchange has provided its Pay Merchant service as a payment settlement layer, while Datamesh has provided the point of sale terminals.

CME Group plans to launch options on ETH futures prior to the Merge

Major derivatives marketplace Chicago Mercantile Exchange 💱 Group intends to launch options trading for its Ether (ETH) futures products. In a Thursday announcement, the CME Group said that subject to regulatory review, it plans to launch 🔈options contracts for its Ether futures, sized at 50 ETH per contract. The futures options are expected to start trading on Sept. 12. A promising start.

South Korea to Block KuCoin, Poloniex in Crackdown on Unregistered Crypto Exchanges

An unexpected twist. Some 16 unregistered providers have been identified as offering services to Koreans without ❌ registering with the right authorities, a press release issued by the country’s Financial Services Commission (FSC) said on Thursday.

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An intelligence unit of the FSC has reported the platforms to the country’s investigative authority, and asked that domestic access to their websites be blocked. The exchanges in question were named as KuCoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, Bitglobal, CoinW, CoinEX, AAX, ZoomEX, Poloniex, BTCEX, BTCC, DigiFinex, and Pionex.

South African Reserve Bank encourages friendly behavior with crypto

The South African government released a plan 📑 that entailed the classification of crypto as a financial asset for regulatory purposes. The laws pertaining to the classification are expected within the next 12 months. Crypto exchanges in South Africa reacted positively to this announcement. 🔈Many believe this move will drive adoption in the country. The country has seen major signs of interest and innovation in the crypto community, including "in real life," or IRL, crypto use cases. Isn't this a good sign?

Korean police seize crypto for unpaid traffic fines in trial

It's not a bad idea, and it works. A South Korean town near Seoul has been successfully operating a pilot program that allows police 🚔 to seize crypto from the exchange accounts of individuals with delinquent traffic fines.

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The program appears to have been successful, at least in the first half of 2022, with Gunpo police achieving an 88% collection rate on traffic fines amounting to $668,000, 💰 putting the city on pace to vastly exceed its goal of chasing $759,000 in traffic fines by the end of the year.

Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys

Really? The new buy limits are intended to better “protect crypto investors” and make them “more aware of the risks” associated with crypto assets, according to one of the exchanges 💱 . Canada-based crypto exchanges Bitbuy and Newton are enforcing a 30,000 Canadian dollars annual “buy limit” for “restricted coins” for their users based in Ontario in order to “protect consumers” amid tightened regulations.

Aid for Ukraine’s $54M crypto fund buys vests, scopes and UAVs

The crypto community 🌐 has poured in an impressive $54 million worth of crypto funds through Aid For Ukraine, aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed.

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The $54 million has been funneled in through the Ukrainian government-run initiative Aid For Ukraine, according to Ukraine’s Deputy Prime Minister Mykhailo Fedorov’s Twitter post on Thursday, who thanked the crypto community for their support. Very nice and generous.

Conclusion: South Korea eliminated any possibility of an unregistered exchange operating there. Not to say that this is a huge change in the crypto world. But it is the first call for all CEXs to be licensed. As we see, Binance is ahead of everyone in this direction.

Options on the Chicago exchange reminded us of the 68000 ATH on Bitcoin, which also talked about this piece of news, but we were in for a steep peak and reversal. Will it be the same with ETH?

Thanks for being with us ;) Brought to you by Maksym, Aleksandar, and Nina :)

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