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Apart from local exchanges like Maicoin, major global crypto trading firms like Binance, ByBit and Kraken have also been serving customers in Taiwan. Taiwan’s Financial Supervisory Commission (FSC) is moving to improve protections for cryptocurrency investors by introducing new rules. The FSC has formulated the key points of regulating the crypto currency market in Taiwan, releasing on Sept. 26 a set of industry guidelines for virtual asset service providers (VASP) operating in the country. In the guidelines, the authority mentioned some common industry-wide rules like separating exchange’s treasury assets from customer assets as well as reviewing mechanisms for listing and delisting virtual assets. The FSC also required foreign VASPs to refrain from providing its services in Taiwan without holding necessary approvals from the regulator. The FSC stated: “Overseas virtual asset platform operators are not allowed to provide business within the territory of the country [...] unless they...

Inactive Bitcoin addresses have hit all-time highs across one-, three- and five-year time domains while BTC outflows from exchanges continue. On-chain data suggests that Bitcoin (BTC) holders are accumulating BTC with exchange holdings down to yearly lows and the percentage of in active BTC supply at all time highs . According to Glassnode’s Bitcoin supply last active chart, in active BTC that has not moved from an address for more than 1, 3 and 5 year time frames has been at all time highs since July 2023. These metrics are mirrored by Bitcoin analytics from Coinmarketcap that tracks wallet addresses by the amount of time they’ve been holding BTC. An estimated 69%, or 36.8 million addresses have been holding BTC for more than a year. Source: Coinmarketcap Bitcoin analytics. CryptoQuant charts also reflect Bitcoin outflows from exchanges that have steadily declined from July 2021, with just over 2 million BTC tipped to remain on exchanges. Source: CryptoQuant. Coinglass’s Bitco...

In an official statement, cryptocurrency exchange Binance unveiled its plans to implement updates to the zero-fee Bitcoin trading starting from September 7. Binance cryptocurrency exchange announced its intention to modify its zero-fee Bitcoin trading program on Aug. 24. This action has the potential to initiate a significant market downturn , reminiscent of the 90% trading volume decline observed following Binance's discontinuation of zero-fee trading in March. In an official statement, cryptocurrency exchange Binance unveiled its plans to implement updates to the zero-fee Bitcoin trading starting from Sept. 7. Binance intends to modify the zero-fee Bitcoin trading for the Bitcoin (BTC)/ True USD (TUSD) spot and margin trading pair. Previously, traders experienced zero maker and taker fees while engaging in BTC trading with TUSD pairs. However, a regular taker fee will now be implemented based on the user's VIP level. Nonetheless, users will still encounter no maker fees when...

In a deleted customer service message, Binance said that the failed withdrawals were caused by temporarily suspended EUR transactions through SEPA. Binance cryptocurrency exchange customers are allegedly facing troubles with fiat withdrawal s in Europe due to issues related to the Single Euro Payments Area (SEPA) transfers. The exchange has allegedly suspended euro withdrawal s and deposits via SEPA, Binance’s customer support wrote in a now-deleted message on X (formerly Twitter) on Aug. 20. In the now-deleted message, the cryptocurrency exchange said it doesn’t have a specific time frame for restoring SEPA transfers, adding that its payment provider “can no longer support these transactions.” “We understand the inconvenience this has caused, and we're actively working to resolve this as soon as possible,” Binance said in a tweet that has since been deleted. The statement came in response to an alleged Binance user in Europe, who claimed to have bought a “large amount of EUR on ...

Bitcoin traders continue to battle for control of a rangebound market — but some nearby BTC price levels are more significant than others. Bitcoin (BTC) faces a new battleground as bulls and bears fight for control of a sideways market, one popular trader says. In part of his latest X analysis on Aug. 11, Daan Crypto Trades flagged a key level to reclaim as BTC price support. "Strongly contested" BTC price zone set for a grilling With BTC price breakouts continually failing, both Bitcoin bulls and bears are caught in a “strongly contested” range, Daan Crypto Trades summarized. This is the culmination of various trips above and below current spot price, making the midpoint the level to watch next. The status quo has essentially remained the same since mid-June — $28,500 as fundamental support, $31,800 as resistance. Gaining control of the area around $29,700 is thus an essential move if bulls are to build the necessary momentum to change the landscape for good. “Pretty cle...

Bitcoin’s tight-range trading suggests that traders are content to wait for a catalyst to start the next trending move. Bitcoin has been trading in a narrow range for the past few days. Generally, tight ranges are followed by a range expansion, resulting in strong trending moves. Market intelligence firm Glassnode tweeted on May 22 that Bitcoin’s (BTC) seven-day price range is “comparable to Jan 2023 and July 2020, both of which preceded large market moves.” It is not only Bitcoin — even the S&P 500 Index (SPX) is at a critical juncture. After its 1.65% rise last week, the SPX has reached near a stiff resistance. The market participants will be keenly watching the outcome of the debt ceiling negotiations before attempting to start a trending move. Daily cryptocurrency market performance. Source: Coin360 Another trigger could be the macroeconomic data, as it will provide insights on the likely action by the United States Federal Reserve in its next meeting on June 13 and 14. The Fe...

Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse news on the regional banks as seen from the sell-off in the past three days. Compared to that, Bitcoin (BTC) has held strong and is hovering near its critical overhead resistance at $31,000. Daily cryptocurrency market performance. Source: Coin360 Bitcoin is not the only outperformer. Gold had risen close to its all-time high during the week. This shows that Bitcoin is currently behaving as a safe-haven asset and investors are adding it to their portfolio along with gold. Could Bitcoin overcome the barrier at $31,000 and extend the up-move? Will the altcoins follow Bitcoin hi...

According to Bloomberg's rich list, Binance CEO Changpeng “CZ” Zhao is supposed to be ranked in the top three finance billionaires worldwide. Changpeng “CZ” Zhao, CEO of major cryptocurrency exchange Binance, claims to hold a way less net worth than reported by some mainstream media. Binance CEO took to Twitter on April 27 to tell its followers that Bloomberg’s latest finance rich list has some inaccurate information regarding his wealth. According to Bloomberg's rich list, CZ is supposed to be ranked in the top three finance billionaires worldwide, holding a net worth estimated at $28.2 billion. “Numbers all wrong. I don't have anywhere near as much. Don't know why they do this,” CZ wrote. He also started his tweet with “4,” apparently implying that his wealth should be somewhere between Dan Gilbert’s $19.4 billion and Uday Kotak’s $13 billion. Source: Twitter Binance CEO also mentioned that he has never viewed the collapsed FTX Cryptocurrency Exchange as a rival. “We...

Despite BTC’s recent recovery, Bitcoin's margin and futures markets highlight a neutral-to-bearish sentiment as traders remain wary of regulatory risks. Bitcoin (BTC) price reclaimed the $30,000 support on April 18 after briefly testing $29,130 on the previous day. However, traders question whether the recovery is sustainable given the increased regulatory scrutiny, especially in the United States.  Bitcoin price in USD, 4-hour. Source: TradingView Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), said on April 14 that Binance intentionally broke U.S. rules concerning futures and commodities trading. For example, knowingly allowing U.S. citizens to participate on the exchange through the use of obfuscation tools. The comments stem from the CFTC’s March 27 lawsuit against Binance and its CEO Changpeng “CZ” Zhao for alleged trading violations. Also on April 14, in an open meeting with U.S. Securities and Exchange commissioners and staff, SEC Chair Gary ...

The deadline for repayment registration for those affected by the Mt. Gox hack has closed, with the trustee releasing a statement on the next steps in the process. The saga of the Mt. Gox Cryptocurrency Exchange and the repayment of its creditors continues, as the company released a new statement as to what to expect now that its registration window has closed.  On April 7, the former exchange released a statement from its rehabilitation trustee Nobuaki Kobayashi saying the deadline for creditors to provide their repayment information — clarification of payee and payment type — has passed.  It said that “base repayment, intermediate repayment and early lump-sum repayments” will be carried out until Oct. 31, 2023. However, this final deadline “might be extended with the permission of the Tokyo District Court.” The note also said that the trustee would carry out the “necessary preparations” to make the repayments, including confirmation of the selections for repayment and sharing th...

BTC’s correction to $22,750 followed negative remarks from financial regulators, but key Bitcoin price metrics show bulls remain optimistic. Bitcoin (BTC) price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain at the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the market consensus. This fuelled investors' hope for a soft landing and the possible aversion of a recession in the U.S. economy.  The apex of the U.S. Federal Reserve’s strategy success would be increasing interest rates and scaling back its $9 trillion balance sheet reduction without significatively damaging the economy. If that miracle happens, the outcome would benefit risk assets, including stocks, commodities and Bitcoin. Unfortunately, the cryptocurrency markets took a hit after the $25,200 level was rejected and Bitcoin price plunged 10% between Feb. 21 and Feb. 24. Regulatory pressure, mainly from the U.S., partially expla...

As more crypto users move to DEXs, DeFi aggregators offer a single access point while targeting the best deals. The sudden collapse of what was once the second-largest crypto exchange in the world has accelerated the migration from centralized exchanges (CEXs) to decentralized exchanges (DEXs). The now-bankrupt FTX still owes the equivalent of billions of dollars to users across the globe, and this is not the only instance of traders losing their funds with CEXs. The benefits of self-custody wallets and the use of decentralized finance (DeFi) applications have become more evident. However, once retail traders set foot in DeFi, they may be perplexed by the complexity of decentralized applications and the wide range of options, which adds to the confusion. DeFi is not user-friendly One could think that DeFi wouldn’t be a quest for crypto users, but this is not the case. The emerging sector has several barriers that hinder mass adoption. To begin with, the DeFi market is fragmented and h...