Author: Max Bauer

South Korea’s main opposition party, the Democratic Party of Korea (DPK), has agreed to postpone the implementation of a controversial cryptocurrency tax for two years. The decision, announced on Sunday, comes after significant pushback from investors and follows a similar reversal on a planned financial investment income tax just last month. DPK floor leader Rep. Park Chan-dae explained the decision during a press conference at the National Assembly, stating that further institutional arrangements are needed before virtual asset taxation can proceed. He emphasized that the decision was reached after extensive internal discussions, debate, and political judgment. The government had originally…

Market participants are eagerly awaiting Federal Reserve Chairman Jerome Powell’s upcoming interview at the New York Times DealBook/Summit conference on December 5th. His comments on the potential pace of interest rate cuts will be closely scrutinized following recent indications of a more cautious approach from the Fed. Minutes from the Federal Reserve’s November monetary policy meeting revealed that policymakers are generally leaning towards a more conservative stance on future rate reductions. This has shifted market expectations, with federal funds futures now pricing in a drop in interest rates to 3.8% by the end of 2024, down from the current 4.5%…

China is stepping up its efforts to combat money laundering activities, particularly those involving virtual currencies. According to the Supreme People’s Procuratorate (SPP), the country’s highest prosecuting body, a recent study session focused on the revised Anti-Money Laundering Law and its implications for legal supervision. Ying Yong, Secretary of the Party Group and Chief Prosecutor of the SPP, emphasized the need to strengthen the fight against money laundering and accurately grasp the revised law’s provisions on expanding the scope of predicate offenses—the criminal activities that generate the proceeds to be laundered. He stressed the importance of leveraging the law to…

In a recent appearance on Anthony Scaramucci’s “Speak Up” podcast, Tom Lee, Fundstrat’s chief investment officer and head of research, made a bold prediction: Bitcoin will reach $250,000 within the next year. This forecast comes as Bitcoin hovers around $60,000, representing a potential fourfold increase. Lee, known for his optimistic and often accurate market forecasts, based his prediction on several factors. He highlighted the Bitcoin halving cycle, a recurring event where the reward for mining new Bitcoin is cut in half, effectively reducing the supply. Historically, Bitcoin’s price has seen significant increases following these halving events, and Lee believes this…

Ripple, the cross-border payments company, is poised to enter the regulated US cryptocurrency market with its own stablecoin, RLUSD. Sources close to the matter tell FOX Business that the New York Department of Financial Services (NYDFS) is expected to grant approval in the coming days, paving the way for a December 4th launch. This approval would grant Ripple a Limited Purpose Trust Charter, allowing it to offer RLUSD to the public in New York. This move positions Ripple as a significant player in both the New York regulated digital finance market and the broader stablecoin ecosystem, putting it in direct…

The Federal Reserve’s aggressive interest rate cuts are expected to moderate in 2025, according to Wells Fargo. Sarah House, a senior economist at the bank, predicts the Fed will likely transition to cutting rates “once every other meeting” as we enter the new year. Her team anticipates three rate cuts in total for 2025. This view reflects a broader consensus on Wall Street. While the precise timing and magnitude of future cuts remain a subject of debate among policymakers, economists generally agree that the current rapid pace of reductions is unsustainable. Current market expectations, as reported by Bloomberg, price in…

Bitcoin’s price surged to a new all-time high of $99,900 in the last weeks, prompting discussions of a potential market top. However, cryptocurrency analysis firm CryptoQuant argues that on-chain indicators suggest the bull run is far from over. Despite a recent correction to around $91,000, CryptoQuant’s analysis indicates that Bitcoin remains in a strong bull market and hasn’t reached the overvaluation levels typically seen at the end of a cycle. Their valuation models suggest a potential price target of $146,000, a level that has historically marked previous cycle peaks, such as in January 2021. One key indicator highlighted by CryptoQuant…

Following the landmark approvals of Bitcoin and Ethereum ETFs in 2024, speculation is mounting about the possibility of a Dogecoin exchange-traded fund (ETF) in 2025. The crypto-friendly stance of the incoming presidential administration is fueling this optimism. “I think everything is on the table moving forward under the new administration,” Nate Geraci, President of ETF Store, told. President-elect Donald Trump’s pro-crypto stance, including his goal to make America the “Bitcoin capital of the world,” and the creation of the Department of Government Efficiency (“DOGE”), headed by Dogecoin enthusiast Elon Musk, have significantly shifted the landscape. Geraci emphasized the importance of…

Bitcoin’s price could reach a staggering $225,000 by the end of 2026, according to Mark Palmer, Senior Research Analyst at Benchmark Company. In a recent interview on Yahoo Finance’s Opening Bid podcast, Palmer explained his bullish outlook, citing a confluence of factors driving the cryptocurrency’s potential surge. Palmer points to the recent US election results as a significant catalyst. The newly elected President Trump and Vice President Vance, both crypto-friendly, signal a more favorable regulatory environment compared to the previous administration. This shift, combined with anticipated supportive cabinet appointments, marks a “sea change” in the government’s stance towards the crypto…

Despite Bitcoin’s recent retreat from the near-$100,000 mark to around $95,000, investment management firm ARK Invest remains bullish, predicting a potential surge to as high as $124,000 before the end of the year. In an interview with CoinDesk, ARK Invest research associate David Puell outlined the firm’s optimistic outlook. “We’re more or less anticipating $104,000 to $124,000 price targets by year-end,” Puell stated, emphasizing that this projection isn’t a recommendation but rather an analysis based on current data. Puell’s forecast is grounded in Bitcoin’s historical seasonality – patterns observed in previous bull markets – and on-chain metrics. He believes market…