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Once launched, Indonesia’s national crypto exchange will be the only platform allowing crypto transactions, the local regulator said. The government of Indonesia is moving forward with its plans to launch a national cryptocurrency exchange, and expects to debut the platform in the coming weeks. Indonesia’s Commodity Futures Trading Supervisory Agency (CoFTRA), also known as Bappebti, is planning to launch the national crypto exchange in July 2023, the local news agency Tempo reported on July 14. Bappebti head Didid Noordiatmoko reportedly said all cryptocurrency transactions will be only allowed to take plac using the upcoming national exchange. “Yesterday we agreed on the stock exchange rules,” the official said, adding that the discussions involved regulation of Know Your Customer (KYC) processes. Didid also noted that trading on the exchange will be offered through an integrated application, which CoFTRA has already tested. "Yesterday we conducted system integration tests bet...

The first increase in trading volume in months was driven by market volatility following the SEC's lawsuits against Binance and Coinbase, as well as improving sentiment via BlackRock's ETF filing. The combined spot and derivatives trading volume on centralized exchanges (CEXs) climbed 14.2% in June to $2.71 trillion, according to CCData's monthly exchange report. Binance, Binance.US, and Coinbase all saw their market share decline in the past month. As per the report, the first rise in trading volume in three months was backed by BlackRock's exchange-traded fund (ETF) filing and regulators' complaints against crypto exchanges Binance and Coinbase in the United States. Binance saw a surge in withdrawals following the Securities and Exchange Commission (SEC) lawsuit on June 5. As a result, its market share dropped the most among CEXs, by 1.40% to 41.6%, while Binance.US saw a marginal share decline of 0.86% to 0.36%. Coinbase's market share declined the least a...

The South Korean yield platform said it has filed a criminal complaint against B&S Holdings and plans to initiate civil proceedings as well. B&S Holdings, formerly known as Aventus, a consignment operator , has been alleged by South Korean yield platform Haru Invest of submitting fraudulent management reports containing “false information” and deceiving the company and its users. Notice to Investors (June 14, 2023): https://t.co/RN01gswTfq pic.twitter.com/IbYb9dA3oP — Haru Invest (@haruinvest) June 14, 2023 In a blog post, Haru Invest shared that it was planning to pursue legal action on top of criminal proceedings against B&S Holdings “to protect our users." Haru Invest said it is engaged in discussions with B&S Holdings regarding the matter. The company concluded its announcement with an apology, stating: “Once again, we apologize for causing concerns and inconveniences to our investors and customers. We will continue to work on the issue in a faithful mann...

Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin (BTC) has slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty. CoinShares’ Digital Asset Fund Flows Report shows a total outflow of $200 million from digital asset investment products in four consecutive weeks. Daily cryptocurrency market performance. Source: Coin360 While the short-term picture remains negative, the chart structure on Bitcoin has not been broken. Bitcoin has corrected about 15% from its local high of $31,000 made on April 14 but it remains above $25,000, indicating that the w...

Bybit is set to roll out Mastercard-powered debit cards, allowing users to pay for goods and services with cryptocurrency holdings. Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings. The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. The service begins with the launch of a free virtual card for online purchases, while physical debit cards are set to be available in April 2023. The service will work with Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC) and Ripple (XRP) balances on user accounts. Payments will automatically convert the balances of these initial cryptocurrencies into euros or pounds, depending on a user’s country of residence. ATM withdrawals and global payments will be limited to aggregated cryptocurrency holdings of a user’s Bybit account. The cards ...

$675 million in BTC options are set to expire on Feb. 17, but bears could aim to take control by pushing Bitcoin price below $22,000. While the U.S. Federal Reserve (FED) continues to monitor the overheated economy, the most likely scenario is further interest rate hikes to curb inflation. The unintended consequence is the heightened government debt cost, creating a bullish environment for scarce assets such as commodities, stock market and cryptocurrencies. Bitcoin’s price gain practically extinguished bears expectation for a sub-$21,500 options expiry on Feb. 17, so their bets are unlikely to pay off as the deadline approaches. Bitcoin investors' primary concern is the possibility of further impacts from regulators following the staking rewards program by the Kraken exchange being halted by the U.S. Securities and Exchange Commission on Feb. 9 and the crackdown on Binance USD (BUSD) stablecoin issuing on Feb. 13. Even if the newsflow remains negative, bulls still can profit in ...

In the letter, SBF denies stealing funds and stashing billions of dollars away. The crypto community has voiced their opinions on former FTX CEO Sam “SBF’ Bankman-Fried’s “pre-mortem overview” of the collapse of FTX he published on Jan. 12 as a letter on Substack.  https://t.co/XVd0BPHxEU — SBF (@SBF_FTX) January 12, 2023 As previously reported by Cointelegraph, SBF denied the allegations made against him in the lengthy letter and maintained that FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with approximately $350 million in cash available. Bankman-Fried further stated that FTX International had a substantial amount of assets (approximately $8 billion) when John Ray became CEO. According to Bankman-Fried, “No funds were stolen. Alameda lost money due to a market crash it was not adequately hedged for–as Three Arrows and others have this year.” Unfortunately for him, the crypto community seemed unimpressed by SBFs “pre-mortem overview....

Trust Wallet is a secure noncustodial cryptocurrency wallet that supports multiple blockchains. A secure cryptocurrency wallet is crucial for those investing in the growing cryptocurrency market. Technically, crypto wallets are pieces of software that enable users to send and receive digital currencies, like Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). Cryptocurrency wallets are typically used to store multiple coins and tokens at once. However, most wallets only support a limited number of digital currencies. These wallets can come in the form of hardware (much like a flash drive) that can be connected to the internet as needed or digital storage (like a banking app) that can be accessed on a device. To ensure security, cryptocurrency wallets store codes called private keys that need to match with a public key before the wallet owner can spend their money. Trust Wallet is an example of such a wallet.  It allows users to control and access their digital assets and provides support ...