FameEX Morning Crypto News Recap | March 25, 2024

Grayscale's GBTC Faces Depletion of Bitcoin Holdings in 96 Days

Grayscale's Bitcoin Trust (GBTC), a key investment vehicle, is facing a critical situation with its Bitcoin reserves expected to run dry in 96 days due to continuous outflows. The persistent withdrawals put the future of GBTC in question, spotlighting concerns over its viability and strategic path forward.

In Turkey, Citizens Opt for Gold and Stablecoins to Combat 67% Inflation Surge

Facing over 67% inflation, Turkey is seeing its currency value diminish, with the lira weakening against the U.S. dollar. Turkish individuals are turning to gold and are more interested in stablecoins linked to the dollar, aiming to protect their finances from the ongoing economic instability.

EU Anti-Money Laundering Rules Forbid Services to Anonymous Cryptocurrency Accounts

The EU has introduced new legislation under its anti-money laundering initiative, banning service and custody offerings to anonymous crypto accounts by crypto asset service providers. Designed to safeguard the financial system from being utilized for money laundering or terrorist activities, the legislation highlights the potential criminal misuse of these digital assets.

Spain Briefly Blocks Telegram Access Over Copyright Concerns

Starting March 25, 2024, Spain's High Court demands a temporary cessation of Telegram operations over copyright issues, disrupting service for millions and various Spanish organizations that use Telegram for legitimate sharing. The directive for mobile providers to block the app significantly disrupts its widespread community.

Hike in Nigeria's Crypto Fees Seen as Catalyst for Innovation

The Nigerian Securities and Exchange Commission (SEC) recommends updating regulations for cryptocurrency service platforms, proposing an increase in crypto exchanges' registration fees from 30 million naira ($18,620) to 150 million naira ($93,000). This significant hike in fees is seen by market experts as a means to foster healthy competitive practices among cryptocurrency firms in Nigeria.

North America's 8th Blockchain Expo

The eighth Blockchain Expo North America is set for June 5 and 6, 2024, at the Santa Clara Convention Center, California, USA. Designed for blockchain aficionados, the event will showcase the latest trends, innovations, and breakthroughs in blockchain, cryptocurrencies, NFTs, Web3, and related areas, offering attendees insights into the forefront of blockchain technology.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​