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South Korea Urges Google To Block 17 Unregistered Crypto Exchanges

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4 days ago

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As South Korea continues to strengthen its crypto regulations, the Financial Intelligence Unit (FIU) has requested Google to block access to 17 unlicensed crypto exchanges. These unregistered virtual asset service providers (VASPs) include KuCoin, MEXC, Phemex, XT, CoinEx, BitMart, and Poloniex, among many others.

Reportedly, Google has responded positively to the FIU’s request. As a result, South Korean users will no longer be able to access these listed platforms, effective yesterday.

South Korea Tightens Regulations: Google Blocks 17 Crypto Exchanges

In a recent development, South Korea’s FIU has requested Google to block users from accessing 17 unlicensed crypto exchanges, including KuCoin, MEXC, Phemex, XT, CoinEx, BitMart, and Poloniex. As part of the move, Google blacklisted these platforms since yesterday.

Notably, South Korea’s decision to block access to these crypto exchanges comes amid growing concerns over crypto theft and money laundering activities. Recently, South Korea announced its potential regulatory revamp in a move to strengthen the country’s anti-money laundering rules.

Google Restricts Downloads and Updates

The Financial Services Commission (FSC) enlisted 22 unregistered platforms on March 26. In response to the South Korean financial regulator’s request, Google has blocked users’ access to the crypto exchanges that are deemed unregistered. In addition, the Google Play Store will not allow users to download or update the applications of these crypto exchanges.

Meanwhile, the FIU asserted that the financial watchdog is collaborating with Apple Korea and the Korea Communications Standards Commission (KCSC) to block both internet and App Store access to these exchange platforms.

Interestingly, the FSC believes that this strategic measure could help prevent money laundering activities involving crypto assets and potential future harm to local users. This move comes just a few days after the FIU launched a crackdown on these exchanges. It is alarming that KuCoin, one of the top crypto exchanges, is also facing intense scrutiny from FIU.

South Korea’s Crypto Regulations: What To Expect More?

Significantly, South Korean regulators mandate crypto exchanges to adhere to the country’s licensing rules before offering services. The restrictions apply to foreign platforms that cater to Korean users by offering Korean-language interfaces, conducting targeted marketing campaigns, or facilitating transactions in Korean won.

According to FIU’s official statement, the platforms that violate these laws could face up to five years in prison or fines of up to 50 million won (approximately $34,150).

South Korea vs United States: Crypto Regulatory Views

South Korea’s rigid crypto regulations come amidst the United States’ loosened norms under President Donald Trump. While South Korea is restricting access to crypto exchanges and tightening regulations, the US is dismissing prevailing crypto lawsuits.

This distinct regulatory trend highlights the two countries’ differing approaches to balancing innovation and investor protection in the rapidly evolving crypto market. The wider implications of these approaches remain differing with South Korea’s caution likely to influence Asian markets and the US’s permissiveness potentially shaping Western regulatory norms.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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24/7 Cryptocurrency News

BitGo CEO Calls For Regulation Amid Galaxy Digital’s Settlement

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17 hours ago

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March 29, 2025

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Mike Belshe, the CEO of BitGo, has commented on the recent settlement between Mike Novogratz’s Galaxy Digital and the New York Attorney General (NYAG). Known as one of the top advocates of deregulation, Belshe, per his latest updates on X, appears to favor regulatory intervention to prevent some fraudulent practices in the industry. 

BitGo CEO Comments on Galaxy Digital Settlement

Responding directly to a post from Anthony Scaramucci, Belshe said it is hard to deny that NYAG laid a compelling case against Galaxy Digital. He highlighted the firm’s pump-and-dump actions. The BitGo CEO noted that selling tokens as soon as they are vested and shilling to HODL when one is actually selling is wrong.

Notably, he reiterated his respect for Novogratz and his contributions to the industry. However, considering the NYAG’s position, Mike Belshe said Galaxy Digital’s actions are unethical. 

‘So, legal overreach or not, it’s not ethical, and this type of behavior makes our entire industry look bad. Unchecked, this is what leads to “over-regulation,”’ he said, advocating for users to read the controls put onto Galaxy as part of this settlement!

The Advocacy for Crypto Regulation

As reported by CoinGape, Galaxy Digital settled with NYAG with $200 million over the controversial Terra (LUNA) sales. The BitGo CEO said if the right regulations are not in place and top leaders are this manipulative, the industry may not be taken seriously.

In his calls for oversight, Mike Belshe defined this as ‘Principles-based regulation.’ He further explained what he meant, noting that no one should lie to promote assets they hold. He also advocated that influential leaders should not tell others to buy while hiding the fact that they are selling.

Over the past few years, industry leaders have often denounced the regulation through key regulators’ enforcement tactics. Things have changed drastically since Mark Uyeda came on board as Acting Chair of the US SEC.

The commission has even established a Crypto Task Force to help introduce frameworks to guide the industry.

President Trump Fulfilling Campaign Promises

The BitGo CEO’s new crypto regulation push is not on the radar. While industry experts like John Deaton agreed with his proposition, US regulatory agencies are cleaning the house to help fulfill President Donald Trump’s campaign promises.

In a recent update, the FDIC advised Federal Banks about crypto. The commission said financial institutions under its umbrella do not need prior approval to gain exposure to the crypto industry. Thus far, this positive regulatory shift has triggered a new adoption trend for the digital currency ecosystem.

One of the core positive moves was Fidelity Investments’ launch of a stablecoin on a public blockchain.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here’s Why Crypto Market Is Bleeding Today

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1 day ago

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March 29, 2025

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The drawdown in the broader crypto market has extended to this weekend as losses shifted from Bitcoin (BTC) to altcoins. The combined market cap has lost 2.82% to $2.68 trillion, which suggests the selloff might deepen more. With the mix of bullish news in the trailing 7-day period, the question among analysts remains what is behind the latest slump.

What Is Behind Crypto Market Crash?

Since the inauguration of President Donald Trump, the broader digital currency ecosystem has witnessed positive backing. 

As reported earlier by CoinGape, President Trump granted full pardon to Arthur Hayes, and other BitMEX co-founders Benjamin Delo and Samuel Reed. While this news is localized to the beneficiaries, it generally signals the positive shift in White House’ perception of the industry.

Despite these updates, the crypto market is still reeling with losses. The same Trump administration’s trade policies have continued to weigh down investor sentiment. The April 2 reciprocal tariff timeline has placed investors on the edge.

These tariffs and trade wars have ushered in economic uncertainties and potential inflation drag. With the Federal Reserve keeping rates unchanged, the impact of inflation may force traditional firms to adjust their positions. This in turn impact the crypto market sentiment overall.

Bitcoin and Altcoin Performance Review

As of writing, the price of BTC has lost its $83,000 support and currently trading at $82,476.30 per data from CoinMarketCap. The top coin has fallen by 2.43% in 24 hours and has extended its Year-to-Date (YTD) losses to 12.5%.

Top altcoins have also lost their positions with Ethereum down 2.25% to $1,846. XRP has fallen by more than 3% to $2.115, while Cardano has shed off 3.92% to $0.6721. The altcoin response has seen Dogecoin forming a wedge pattern in what may serve as a make-it-or-break-it switch for the memecoin. 

While it appears as though many of these top assets are bottoming out, their correlations with Bitcoin may extend their overall drawdow.

What Next for the Crypto Market?

Thus far this year, top coins like Bitcoin have often showcased resilience in the face of massive sell-off and crypto liquidations. Although the current price floor for Bitcoin remain undefined, with analysts keeping an eye on the $82,000 floor.

The digital currency has not breached this level in close to two weeks. While legendary trader Peter Brandt agrees BTC price may fall to $65,635, this bearish projection may be averted if the $82,500 support holds through the weekend.

Altcoins may likely boost their price recovery by relying on BTC breakout and their internal fundamental updates.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here’s Why Peter Schiff Predicts Bitcoin (BTC) Price Crash to $10K

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1 day ago

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March 29, 2025

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Peter Schiff, a BTC critic, has recently predicted that Bitcoin price could plummet to as low as $10,000. Schiff has expressed concerns over Bitcoin’s long-term viability, particularly in comparison to gold. His argument revolves around Bitcoin’s current performance, which he believes is being driven by short-term hype rather than solid fundamentals.

Schiff’s prediction is particularly alarming for those who view Bitcoin as a store of value. In the current trends, Peter Schiff notes that millions of young people are invested in Bitcoin while gold, a standard hedge, is pushing higher.

This view stems from his assertion that when gold prices rise to new record levels then the value of Bitcoin may plummet.

“By the time they get to their target of $5K for gold, they will drag Bitcoin down to $10K, meaning a drop of 95% from the highest it was valued at in 2021,” Schiff reasoned.

Bitcoin Price Recent Performance Against Gold

Another issue that Schiff dislikes about Bitcoin also revolves around its categorization as a “risk asset.” He says that BTC price movements are synchronized with the rest of the market, especially when investors are more willing to take risks. While gold provides investors with a safe-haven, the Bitcoin price operation is defined as having a volatility closer to that of the traditional markets among investors. Therefore, as argued by Peter Schiff, BTC price may decline as investors turn to the safe-havens, such as gold, in turbulent times.

Market Analyst Weigh In On Bitcoin Trend

Several market analysts are echoing Schiff’s concerns, suggesting that Bitcoin price could face challenges in the near term. Peter Brandt, a veteran trader, has pointed out that Bitcoin might be on a path to $65,635, citing a “bear wedge” pattern that has emerged in the cryptocurrency’s price charts.

Meanwhile, crypto trader Michaël van de Poppe shared his own cautious outlook on Bitcoin’s short-term prospects. Van de Poppe noted that while Bitcoin price has been holding above the $80,000 mark, its price action is starting to show signs of weakness. He added, “It starts to look slightly less good,” and suggested that if Bitcoin falls below $84,000, a deeper correction could be imminent.

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Similarly, the crypto trader TheKingfisher expressed doubts about a sustained bullish recovery, indicating that Bitcoin’s current price movement aligns with a typical market cooldown. He suggested that Bitcoin could be approaching a “seasonal reset” as part of the broader market trend.

Alternative Views on Bitcoin’s Future Trend

Not everyone shares Peter Schiff’s pessimism about Bitcoin price. Charlie Morris, founder of ByteTree, highlighted that despite recent challenges, Bitcoin may have already seen its worst. He explained that while gold ETFs are experiencing slower inflows, Bitcoin could be positioned for a potential recovery.

This view contrasts sharply with Peter Schiff’s, emphasizing that the cryptocurrency may not be as doomed as some critics suggest.

Additionally, Robert Kiyosaki, author of Rich Dad Poor Dad, has weighed in on the broader market of precious metals and cryptocurrencies. While Kiyosaki acknowledged Bitcoin’s role as a hedge against inflation, he predicted that silver would outperform both Bitcoin and gold in the near term

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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