Asia tightens crypto regulations as the market turns red.
Thailand’s Securities and Exchange Commission has proposed limiting stablecoin deposits and withdrawals to 5 million baht (~$148,000) per customer per day on each exchange, while also banning transfers to or from third-party wallets. This is only a draft, open for public comment until 26/11.
In India, the Enforcement Directorate searched 3 locations in Bengaluru linked to CoinDCX and Delta Exchange on 4–5/11, over allegations of unauthorized cross-border transactions. This is an ongoing investigation, not a final conclusion.
Market backdrop: BTC is around $68,700, down ~6.6% in 24 hours; more than $1.41 billion in derivatives positions have been liquidated; Fear & Greed is at 20 (Extreme Fear). The market is awaiting US October PPI data at 20:30 Vietnam time.
Amid the sea of red, $ICP is up 1.64% to ~$2.58 — the biggest gain among the top 100 that hasn’t been mentioned recently — as DFINITY is set to launch Cloud Engines, a sovereign computing platform for AI, before 15/11.
Will tighter regulations in Asia hold the market back or make it more transparent?
#CryptoNews #Bitcoin #Stablecoin #ICP
Thailand’s Securities and Exchange Commission has proposed limiting stablecoin deposits and withdrawals to 5 million baht (~$148,000) per customer per day on each exchange, while also banning transfers to or from third-party wallets. This is only a draft, open for public comment until 26/11.
In India, the Enforcement Directorate searched 3 locations in Bengaluru linked to CoinDCX and Delta Exchange on 4–5/11, over allegations of unauthorized cross-border transactions. This is an ongoing investigation, not a final conclusion.
Market backdrop: BTC is around $68,700, down ~6.6% in 24 hours; more than $1.41 billion in derivatives positions have been liquidated; Fear & Greed is at 20 (Extreme Fear). The market is awaiting US October PPI data at 20:30 Vietnam time.
Amid the sea of red, $ICP is up 1.64% to ~$2.58 — the biggest gain among the top 100 that hasn’t been mentioned recently — as DFINITY is set to launch Cloud Engines, a sovereign computing platform for AI, before 15/11.
Will tighter regulations in Asia hold the market back or make it more transparent?
#CryptoNews #Bitcoin #Stablecoin #ICP
