Here is what happened yesterday in the crypto market:
New Zealand Bans Crypto ATMs
New Zealand has banned crypto ATMs nationwide to combat financial crime, citing concerns over their use in illicit activities. This move highlights a growing global trend among regulators to scrutinize and control cryptocurrency access points.
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Crypto Adoption Fueled by Payments and AI
A recent survey by Reown and YouGov indicates that payments and artificial intelligence are key drivers of crypto adoption in 2025. This suggests a future where digital assets are increasingly integrated into daily transactions and advanced technological applications.
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US Congress Seeks to Reclaim Crypto Innovation Leadership
Senators Tim Scott and Cynthia Lummis are pushing the bipartisan GENIUS Act to encourage crypto entrepreneurs to stay in or return to the United States. This legislative effort aims to foster financial innovation and retain talent within the US.
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South Korean Regulator Advises Against Excessive Crypto Exposure
South Korea’s Financial Supervisory Service (FSS) has verbally advised local asset managers to limit their exposure to cryptocurrency-related firms. This cautionary stance reflects ongoing regulatory vigilance over potential risks in the crypto market.
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SEC Approves and Pauses Bitwise ETF Conversion
The US SEC approved and then immediately paused the conversion of Bitwise’s crypto index fund into an exchange-traded fund, leaving its status in limbo. This action underscores the unpredictable nature of cryptocurrency regulation and its impact on market offerings.
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