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Kwon, alleged to have been involved in the 2022 collapse of the Terra ecosystem, was arrested and jailed in Montenegro for using falsified travel documents in 2023. Authorities from the US and South Korea filed competing petitions to extradite the Terraform co-founder, but Montenegrin authorities did not decide on his legal status until December 2024, when Kwon was handed over to US officials.
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As 2024 draws to a close, the shape of the future is becoming more apparent. In the US, all eyes are on the incoming Bitcoin strategic reserve. Europe’s MiCA framework may tighten further, pushing more companies out of the EU.
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Dubai’s DMCC Crypto Center welcomed many new entrants who relocated their HQ to the region’s most active crypto ecosystem.
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The updates would mandate stricter CDD, improved reporting group definitions and tighter Travel Rule obligations for international transfers.
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The proposed rule reforms introduce expanded regulatory oversight of high-risk sectors, including cryptocurrency exchanges, legal services and real estate businesses.
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The draft rules are open for public consultation until Feb. 14, 2025, as AUSTRAC calls on industry stakeholders — particularly those in crypto and financial services — to provide feedback to inform the final version of the framework.
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It also comes as Trump on Dec. 4 nominated crypto advocate Paul Atkins to replace Gary Gensler as the Securities and Exchange Commission’s chair, which could remove several regulatory hurdles that have hamstrung the broader industry under the Biden administration.
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Republican Donald Trump’s victory in the United States presidential election in early November, growing speculation of a strategic Bitcoin national reserve, and increased Bitcoin corporate adoption led by MicroStrategy’s Michael Saylor have also contributed to Bitcoin’s price rally.
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The year has seen more than $31 billion in net inflows from the spot Bitcoin exchange-traded funds in the United States, along with tightened supply from Bitcoin’s fourth halving in April.
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Bitcoin also set a new all-time high of $104,000 at 3:08 am UTC — roughly 90 minutes after surpassing the $100,000 mark.
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The price of Bitcoin reached $100,000 for the first time in history, marking a milestone for the cryptocurrency market after a year of significant growth.
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“I don’t see any blockchain ecosystem, including Bitcoin and Solana, coming close to unseating the Ethereum ecosystem as the mecca for decentralized applications.”
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“Ethereum is the world’s most decentralized, valuable and mature general-purpose blockchain,” Thorn said.
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Galaxy Digital head of research Alex Thorn recently told Cointelegraph Magazine he does not see any serious competition for Ethereum at this time.
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“Shorts kept & keep piling up here, so watch the liquidation unfolds above $4k,” MisterSpread added.
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“Once ETH breaks the $4,000 area, there is a high chance we see a God candle to $5,000,” MisterSpread said in an X post.
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Singapore introduced its Variable Capital Company (VCC) framework in 2020, which now houses more than 1,000 funds.
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Hong Kong’s proposal to scrap the crypto tax comes amid increasing competition with rivals Singapore and Switzerland.
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If implemented, the tax exemption may enhance Hong Kong’s digital economy as the city seeks to attract more global liquidity.
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The initiative aims to help Hong Kong compete with regional rivals like Singapore, which provides similar tax incentives, and Switzerland, which is known for its wealth management expertise.
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