Crypto Daily Roundup, 28 Feb: Bitcoin Inches Closer to $60K

Cryptocurrency values have risen within the previous 24 hour

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Crypto market surges, with Bitcoin near $60K and Ethereum hitting highs. Michael Saylor's Bitcoin accumulation and significant inflows into Spot Bitcoin ETFs drive confidence. MicroStrategy's $155 million Bitcoin purchase and BlackRock iShares ETF inflows contribute to bullish sentiment. Institutional interest rises, hinting at further gains.

• OKX , a leading global crypto exchange, launches OKX TR in Türkiye, providing Turkish users with a compliant gateway to crypto trading and DeFi. With localized features like Lira deposits and 24/7 customer support, OKX TR offers major crypto pairs and advanced features. The OKX Wallet facilitates NFT trading and DeFi exploration with MPC and AA features, contributing to Türkiye's growing crypto ecosystem.

• Sam Bankman-Fried, founder of collapsed FTX exchange, allegedly promotes Solana investments from jail, despite facing sentencing for FTX-related charges. Advocating Solana raises legal concerns as it was a major FTX investment. His family's support and legal team seek a reduced sentence. Observers await the outcome of his March 28 sentencing.

• Senator Elizabeth Warren pushes for fair regulations in cryptocurrency and AI sectors, emphasizing equal rules for all players. Despite challenges, she proposes the Digital Asset Anti-Money Laundering Act. Critics argue it could stifle innovation. Warren stands firm against opposition, including from influential crypto advocates like John Deaton.

• Matrixport applies for a virtual asset trading license from Hong Kong's SFC, joining 21 companies in regulatory compliance efforts. With stringent regulations, non-compliance risks fines and imprisonment. Matrixport's move follows market predictions and trends, showing adeptness in navigating regulatory challenges amidst evolving landscapes and cautionary advisories to investors.

• IRS enhances cryptocurrency regulation with expert hires Raj Mukherjee and Seth Wilks, aiming to combat tax evasion. Final regulations mandate detailed transaction reporting by crypto brokers. Amid global debates on crypto taxation, collaboration between public and private sectors is crucial for effective regulation and fostering innovation.

• HashKey, a Hong Kong-based crypto exchange, secures a Major Payment Institution license in Singapore, highlighting the trend of regulatory compliance in the industry. Approval signals commitment to adhering to regulations, enabling expansion of services. Despite Singapore's crypto-friendly stance, cautious approach by MAS is evident in certain decisions.

• Aleo addresses KYC information exposure due to a copy/paste error, affecting 10 participants. The platform removes exposed data, investigates the cause, and informs affected users. It plans new technical controls for KYC practices. Experts stress the importance of stringent data protection in blockchain platforms to prevent such incidents.

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Also read - 24 Crypto Update, 27 Feb: BTC Stable as GDP Figures Awaited