By Shikha Singh
KuCoin EU Files MiCAR Application in Austria.
KuCoin is applying for a MiCAR license in Austria for its subsidiary, KuCoin EU Exchange GmbH.
This license will allow KuCoin EU to offer crypto services across all 30 EU/EEA countries, ensuring regulatory compliance and a secure, transparent trading platform for users.
The move reflects KuCoin’s commitment to high standards of accountability and trust in the digital asset space.
Mantra Finance Secures Dubai’s VASP License to Expand Crypto Services.
Mantra Finance has secured a VASP license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling it to operate in the UAE, MENA region, and offer digital asset exchange, broker-dealer, and investment services.
This license strengthens Mantra’s global expansion and its goal to bridge DeFi and traditional finance. Mantra plans to focus on institutional clients, with future plans to expand access to retail investors.
The company is working with major UAE partners and aims to tokenize assets in various industries. VARA has also tightened rules on crypto marketing, requiring clear disclaimers about volatility and cracking down on unlicensed firms.
Banks in South Korea Moving Quickly To Partner With Crypto Exchanges Amid New Regulatory Clarity.
Banks in South Korea are increasingly partnering with crypto firms as the country relaxes its digital asset regulations.
South Korea’s Financial Services Commission (FSC) will launch a pilot program in 2025 allowing 3,500 companies to buy crypto for investment and financial purposes, lifting a 2017 ban on corporate crypto transactions.
Major exchanges like Upbit and Bithumb are forming partnerships with banks, such as K Bank and KB Kookmin Bank.
The FSC plans to implement safeguards, including transaction guidelines and stricter screening processes for real-name verified accounts.
SEC Temporarily Pausing Crypto Lawsuits with Upcoming Deadlines.
The SEC is reportedly prioritizing pausing cryptocurrency lawsuits with upcoming deadlines, which is why it hasn’t paused its cases against Ripple and Kraken yet.
Ripple’s next court deadline is April 16, and Kraken’s is March 31. Other exchanges like Coinbase and Binance face deadlines in mid-April.
Under President Biden, financial regulators, including the SEC, filed over 100 lawsuits against crypto firms for legal violations.
However, President Trump’s second term has seen a more industry-friendly approach, with the SEC easing enforcement. Kraken resumed staking services for US clients in January after nearly two years.
Pig Butchering Scams Stole $5.5 bn From Crypto Investors in 2024.
Pig butchering scams have become a major threat to cryptocurrency investors, with over $5.5 billion in losses reported in 2024 across 200,000 cases.
These scams involve manipulating victims over time to trick them into sending assets to fraudulent crypto addresses. Ethereum-based schemes are the most impacted.
In 2024, crypto hacks also surged, with over $2.3 billion stolen in 165 incidents, a 40% increase from 2023.
Centralized exchanges (CEXs) are also heavily impacted, facing financial and reputational challenges. Efforts to combat these scams include industry initiatives and regulatory actions. December 2024 saw the largest losses, with over $468 million lost to pig butchering.
Crypto Markets To Face Downturn as Demand Drops for CME Bitcoin and Ether Futures.
JPMorgan analysts warn the crypto market may face a downturn due to a drop in institutional demand for CME bitcoin and ether futures.
The market has fallen 15% from its December peak of $3.72 trillion to $3.17 trillion, signaling a correction.
This has caused futures to approach “backwardation,” a sign of weak demand from institutional investors.
The decline is due to a lack of positive catalysts and institutional investors cashing out, along with funds pulling back as bitcoin and ethereum lose momentum, especially ethereum.
Bitcoin ETF demand has slowed but remains positive. Cryptoquant CEO Kim Young Ju says the bull cycle continues, but large ETF outflows could signal a shift to a bear market.
Robert Kiyosaki urges investing in Bitcoin, gold, and silver for future wealth.
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