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News: Crypto

Welcome to the crypto news section, the premier destination for comprehensive and up-to-date information on all things related to cryptocurrencies. Serving as an essential resource for enthusiasts and investors alike, this page offers insights into the dynamic world of digital assets - encompassing everything from real-time price fluctuations to announcements of innovative projects and crucial regulatory changes. Here we've got the pulse of the cryptocurrency market covered to ensure you stay informed.

South Korean CBDC – 7 South Korean Banks to Join Issuing The Digital Currency Since cryptocurrencies arrived on the financial scene and changed how people transact and transfer money, central banks have become more interested in developing their own virtual payment systems. After Russia, China, Nigeria, India, and Jamaica, South Korea is taking a major step toward introducing its own Central Bank Digital Currency in an upcoming pilot program involving the public and some major banks. The initiative aims to test the feasibility of a digital currency within the existing financial system, enabling a limited number of citizens to transact with CBDC at selected merchants and Points of Sale. This move aligns with the global trend of central banks exploring digital currencies to enhance payment efficiency, reduce transaction costs, and modernize the financial landscape. South Korea CBDC Pilot Program Bank of Korea (BOK), in collaboration with financial regulators, announced an initiative to test the rolling out of CBDC involving seven major banks and 100,000 participants. The pilot program “Project Hangang” is scheduled to run from April to June 2025, focusing on testing deposit tokens issued by banks and backed by the CBDC. These banks include KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NH NongHyup Bank, Industrial Bank of Korea (IBK), and Busan Bank. These tokens will be used for transactions in both online and offline retail environments, allowing the government and financial institutions to evaluate their effectiveness. Users and Merchants Participation The BOK is expected to announce the project by the end of March, asking 100,000 South Koreans to participate in the pilot and convert their traditional bank deposits into digital tokens for payments. Individuals will be limited to a maximum holding of 1 million WON (approximately $687) and a total transaction cap of 5 million WON during the trial’s duration. Various merchants, including convenience stores, supermarkets, coffee shops, and online platforms, will accept these tokens as payment. Notable participants include 7-Eleven, Hanaro Mart, Ediya Coffee, Silla University, and Hyundai Home Shopping. This will help assess the practicality and usability of the CBDC across different retail settings. Global Adoption of CBDC The South Korean CBDC initiative is part of a broader global trend, with many countries exploring digital currencies to modernize their financial systems. The Bank for International Settlements (BIS) has been actively promoting CBDC projects worldwide, with major economies such as China, the European Union, and the United States conducting their own trials. China’s digital Yuan e-CNY is already in an advanced phase, with widespread adoption in various sectors. The European Central Bank is also working on a digital Euro, while the US Federal Reserve is researching the potential implications of a digital Dollar. These initiatives aim to improve payment efficiency, enhance financial inclusion, and strengthen monetary policy frameworks. Conclusion South Korea’s CBDC pilot marks a significant step toward digital financial transformation. By involving the public, key banking institutions, and merchants, the trial will offer critical data on the viability of digital currencies. As more countries explore CBDCs, these findings could influence future implementations worldwide, paving the way for a more efficient payment system.

Hazem

Hazem

South Korean CBDC – 7 South Korean Banks to Join Issuing The Digital Currency South Korean CBDC will be tested in a Central Bank-led pilot project involving 100,000 users and 7 issuing banks. Here’s what we know about this project.

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SEC Postpones Decision on XRP, SOL, LTC, DOGE ETFs

Constantine

Constantine

SEC Postpones Decision on XRP, Solana, Litecoin and Dogecoin ETFs The SEC has delayed decisions on ETFs tied to XRP, Solana, Litecoin, and Dogecoin, citing the need for extended evaluation periods amidst anticipated regulatory changes.

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Cryptos Included in Trump Crypto Reserve Plan Announced

Hazem

Hazem

Trump Crypto Reserve Plan to Include These 5 Cryptocurrencies Explore Donald Trump’s pro-crypto stance and the strategic crypto reserve plan, which appears to include altcoins beyond Bitcoin.

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SEC Crypto Task Force

Alexander

Alexander

New SEC Crypto Task Force Signals a Major Shift in Crypto Oversight A new SEC crypto task force is set to reshape regulation, reducing uncertainty for digital asset businesses and investors.

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Grayscale XRP ETF is on The SEC’s Desk: Will it Be Approved?

Hazem

Hazem

Grayscale XRP ETF is Under Review – Will The SEC Approve it This Time? The SEC is reviewing Grayscale XRP ETF and the public feedback window is open. With the new pro-crypto SEC approach, will an approval come any time soon?

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4 Reasons to Buy Ethereum in 2025

Waqas

Waqas

4 Reasons to Buy Ethereum in 2025 While Bitcoin has regained its six-figure valuation, Ethereum (ETH) has outpaced it by 10% since November last year, yet remains below its all-time high.

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Key Differences Between USDC and USDT

Kevin

Kevin

Key Differences Between USDC and USDT USDC and USDT are popular stablecoins pegged to the U.S. dollar. Discover the key differences and why USDC might be the better choice in certain scenarios. Discover

Advantages and Peqularities of Over-the-Counter Crypto Trading

Muhammad

Muhammad

Advantages and Peqularities of Over-the-Counter Crypto Trading The cryptocurrency market has matured significantly, with participants ranging from retail traders to institutional investors.

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Bitwise Dogecoin ETF

Hazem

Hazem

Dogecoin ETF News Grabs Investors’ Attention Bitwise applied for Dogecoin ETFs, taking the memecoin to institutional acceptance. Will this crypto ETF launch boost DOGE prices to $1 in 2025?

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TRUMP coin

Hazem

Hazem

TRUMP Coin Enters The Top 20 Cryptos – Is It Legit? TRUMP coin is surging in the crypto market, with more investors inflowing to buy the TRUMP memecoin and the new Melania coin. Here’s what makes this coin special.

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SEC Appeal XRP Legal Battle Continues Amid Leadership Change

Alexander

Alexander

SEC Appeal XRP: Legal Battle Continues Amid Leadership Change The XRP vs SEC lawsuit takes a new turn as the regulator proceeds with its appeal. Investors anticipate possible settlement talks under a pro-crypto chair.

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Crypto US Legislation

Hazem

Hazem

Crypto US Legislation is Coming Soon in 2025 – What is its Purpose? New US crypto legislation is expected next year as pro-crypto Trump arrives at the office. Here’s a breakdown of the new crypto regulations in the US in 2025.

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Trump Bitcoin Reserve Plan – What is It About?

Hazem

Hazem

Trump Bitcoin Reserve Plan – Will it Solve The US National Debt? After winning the US elections, the new Trump Bitcoin reserve plan is set to boost the national economy, triggering a massive BTC price rally.

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Just a Chill Guy Memecoin is HUGE! Why Should You Invest?

Hazem

Hazem

Just a Chill Guy Meme Coin: Is it Worth the Hype? The memecoin community keeps on delivering. Just a chill guy is the latest meme cryptocurrency on top exchanges. Should you buy and hold?

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Bitwise 10 Crypto Index Fund – Will The SEC Approve it?

Hazem

Hazem

Bitwise 10 Crypto Index Fund Application Ready – Will The SEC Approve it? Digital asset ETFs are becoming the investors’ choice for crypto trading, especially with the new Bitwise 10 crypto index fund. Will Gary Gensler approve it? Discover

Crypto Industry Betting On Trump To Oust Gary Gensler As SEC Chief

Anna

Anna

Crypto Industry Betting On Trump To Oust Gary Gensler As SEC Chief Bitcoin has been on a bull run since the US election, with crypto enthusiasts eagerly awaiting news of how Donald Trump will meet his pre-election promises of being a crypto-president and making America the crypto capital of the planet. One specific promise he made during the recent 2024 Bitcoin Conference was that he would sack […]

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