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1,432 individuals and corporations in South Korea have reported holding $98 million in crypto overseas, which is 70% of all reported assets. Cryptocurrencies like Bitcoin (BTC) accounted for the largest share of South Korea’s reported overseas assets in the latest report by the country’s tax organization. South Korea’s National Tax Service (NTS) issued an official announcement on Sept. 20, stating that 1,432 individuals and corporations reported overseas accounts in cryptocurrency this year. The total reported amount in crypto was 130.8 trillion Korean won (KRW), or $98 million, which makes up more than 70% of the total amount in all reported overseas assets. According to the official data, a total of 5,419 entities reported their overseas financial accounts, holding a total of 186.4 trillion KRW ($140 million) in assets like cryptocurrencies, stocks as well as deposits and savings. While cryptocurrencies were the biggest reported overseas assets by the amount of reported assets ,...

CoinShares, the European alternative asset manager, shares that digital asset investment products saw outflows of $168 million in their Aug. 29 report. Since the United States regulatory crackdown on exchanges began in March 2023, this number is the largest outflow. The report cites Bloomberg as the source. It shares that outflows by asset were highest for Bitcoin (BTC) at $149.4 million, followed by Ethereum (ETH) with $16.8 million. Weekly Crypto Outflows Source: CoinShares Data states these outflows occur across most geographies, implying that the alleged negative sentiment is broad-based. That said, Germany, Canada, the United, and Switzerland accounted for the greatest outflows with $68 million, $61.2 million, $19.5 million, and $16.7 million, respectively. Together, this puts August’s outflows at $278 million. The report defines it as an exceptionally low trading volume market. Investment products are also highlighted, with their trading estimated at $1.3 billion this w...

The United States Securities and Exchange Commission isn't likely to block the debut of Ethereum futures ETFs, according to sources. The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look as though it will block the applications of nearly twelve companies, including ProShares, Volatility Shares, Bitwise and Roundhill, that have filed to launch Ether (ETH) futures ETFs in recent weeks. Breaking The SEC is expected to green light an ETH futures ETF The beginning of something potentially massive here… pic.twitter.com/x9KtOpCqei — Bankless (@BanklessHQ) August 17, 2023 It remains unclear which ETF applications would be approve d by the SEC; however, officials indicated that several of the filings may be...

The report compares Bitcoin energy usage to that of clothes dryers (equal) and its emissions to those of manure (much less) in a slight but readable document. KPMG has released a report on Bitcoin and ESG (environment, social and governance) issues. The professional services firm, one of the world’s Big Four, found that Bitcoin “appears to provide a number of benefits across an ESG framework.” Looking at each component of ESG separately, the report noted that emissions is a more significant indicator of environmental damage than energy usage. It contextualized Bitcoin (BTC) emissions in relation to those of other sources that ranged from tobacco to tourism and found it was the second smallest contributor behind “Video (US).” It concluded: “Bitcoin’s emissions may be lower than often discussed.” The report repeated common strategies for improving Bitcoin’s carbon footprint, such as using more renewable energy and energy produced from methane for mining. BREAKING: KPMG, one of the ‘t...

Brad Garlinghouse stressed Ripple’s unchanged commitment to transparency but hinted that future reports might undergo some changes. Ripple CEO Brad Garlinhouse on Aug. 2 expressed his disapproval of the United States Securities and Exchange Commission for utilizing Ripple’s quarterly XRP (XRP) Markets Report, designed to enhance transparency in the cryptocurrency industry, as evidence against the company in the ongoing lawsuit .  Garlinghouse stated that the company initiated the report s with the intention of voluntarily offering updates on its XRP holdings. However, the CEO said these report s were later “used against” the company in the SEC’s lawsuit . Garlinghouse reiterated the company’s commitment to transparency but hinted that future report s might undergo some changes. We began these reports to voluntarily provide updates given our XRP holdings. Sadly, they were used against us in the SEC lawsuit - however, we remain steadfast in our commitment to transparency but I suspect t...