The Securities and Exchange Commission (SEC) of Thailand is working to better protect cryptocurrency investors by introducing new rules for crypto custody services. Thai SEC on Jan. 17 issued regulations requiring virtual asset service providers (VASP) to establish a digital wallet management system to guarantee efficient custody. The new rules target crypto custodians, or VASPs that provide crypto storage services. The regulations include three major requirements, including provision of policy and guidelines for overseeing risk management of digital wallets and private keys. The rules require VASPs to communicate with regulators regarding such policies and provide action plans to ensure compliance. …

The Bitcoin (BTC) price rebound to a multi-month high has rubbed onto the mining stocks as well. Many of these crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also came as a relief for the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity last year. Bitfarms, one of the top BTC mining firms registered a 140% surge in the first two weeks of January followed by Marathon Digital Holdings Inc. with a 120% surge. Hive Blockchain Technologies Ltd. saw its stock value nearly double in …

Mike McGlone, Bloomberg's senior commodity strategist believes Bitcoin (BTC) could be developing a "bottom" in the same way it did prior to 2019's bull run but said there is a major difference this time around. During a Jan. 16 interview with crypto podcaster Scott Melker, McGlone argued unlike in 2018 when financial institutions such as the Federal Reserve were easing interest rates, this time they’re still tightening along with "every central bank." "Back then the Fed already started easing and we held the bottom and broke out higher and then we had that issue in 2019," he said. "Right now …

Non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and decentralized finance (DeFi) are redefining how charities raise donations and distribute funds to those most in need. Through ever-evolving crypto and blockchain-related technology, crypto philanthropists told Cointelegraph that they've witnessed “new wealth distribution mechanisms" never seen before. “Philanthropy has traditionally been seen as a high-cost-of-entry, individualistic activity but with web3, collective decision-making bodies like DAOs can use tools that streamline financial coordination and encourage more participation,” explained Omar Antila, Product Lead at Crypto for Charity. “Crypto enables new innovative fundraising strategies, like charitable NFT-drop campaigns, or allowing people to pool their crypto …

Digital assets will largely decouple from traditional equity markets in 2023, says Chief Investment Officer at Arca, Jeff Dorman. Discussing his outlook for 2023 in a recent interview with Cointelegraph, Dorman argues that as the global economy enters a recession this year, equities will be negatively affected while some crypto tokens will perform well: the value of the latter, he explained, is determined not only by macroeconomic factors but also by their utility within the respective ecosystems, which would remain unaltered in a recession. “You're going to see a lot of stocks get punished under the weight of restructurings and …

Bitcoin (BTC) is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD remains under suspicion for Bitcoin bear market survivors. Bitcoin bull trap fails to convince It has been called the “biggest bull trap” ever seen, and despite holding above $20,000, BTC price action is fooling no one. This week, with Wall Street closed until Jan. 17, out-of-hours trading continues to support higher levels, but faith in these staying around for long is hard to find. For those who observed drop …

Amid the crisis of centralized cryptocurrency exchanges (CEX), crypto exchange Binance is moving to improve its institutional trading services with cold custody opportunities. Binance announced on Jan. 16 the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody. The newly launched Mirror service is based on Binance Custody, a regulated institutional digital asset custodian, by mirroring cold storage assets through a 1:1 collateral on Binance account. Binance emphasized that the new solution enables more security, allowing traders to access the exchange ecosystem without having to post collateral directly on …

In an interview with mainstream media outlet Bloomberg, Monex CEO Oki Matsumoto said that they are interested and expressed that it will be a "very good thing" for them if there will be less competition within the local market. Matsumoto also highlighted that the crypto market within Japan has a lot of potential because companies may be looking into investing in digital assets or using nonfungible tokens for their marketing campaigns. According to the CEO, Monex wants to position itself as one of the few options for local players when such a time comes. FTX Japan, one of the four …

Bitcoin (BTC) and Ether (ETH), the top two cryptocurrencies by market capitalization have always been pitted against each other. With the start of the new year, the first debate has surfaced comparing BTC’s capped supply of 21 million and ETH's deflationary supply and which of the two qualifies as more sound money. An Ethereum-focused Twitter handle called ‘ultra sound money’ compared the issuance supply of both crypto and suggested that “if capped-supply BTC is sound then decreasing-supply ETH is ultrasound.” if capped-supply BTC is sound decreasing-supply ETH is ultra sound pic.twitter.com/L2tsFzPQ7q — ultra sound money (@ultrasoundmoney) January 15, 2023 The …

Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin's potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph (@Cointelegraph) January 16, 2023 Notably, the BTC price broke out of the range late last week while accompanying a rise in its trading volumes. The cryptocurrency's move upside also pushed the price above its resistance confluence, comprising a psychological price ceiling of $20,000 and its …

Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin (BTC) from hackers behind the Harmony bridge exploit. In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After this was detected by Binance, they contacted and assisted Huobi to freeze and recover the digital assets deposited by the hackers. We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We assisted Huobi team to freeze his accounts. Together, …

Bitcoin (BTC) starts a new week at new 2023 highs but still dividing opinion after a blistering price rally. In what is shaping up to be the antidote to last year’s slow bleed lower, January has delivered the volatility Bitcoin bulls were hoping for — but can they sustain it? This is the key question for market participants going into the third week of the month. Opinion remains divided on Bitcoin’s fundamental strength; some believe outright that the march to two-month highs is a “sucker’s rally,” while others are hoping that the good times will continue — at least for …