Senin, 17 Maret 2025

Argentina sets VASP rules; Is ETH headed for $1.6K?


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Your weekly roundup of the 🔥hottest news in crypto:

Argentina's VASP rules finalized, ETH may bottom at $1.6K, and other news

Mar. 9 - 15

#1

Argentina finalizes rules for virtual asset providers

Argentina's securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions.

The regulations were published on March 13 by the National Securities Commission, also known as the CNV, under General Resolution No. 1058.

According to a translated version of the announcement, the regulations impose "obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure" on VASPs operating in the country.

The stated goal of the rules is to guarantee "transparency, stability, and user protection in the crypto ecosystem," the announcement said.

Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV.

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#2

US Rep. Byron Donalds to introduce bill codifying Trump's Bitcoin reserve

A new bill set to be introduced in Congress aims to formalize President Donald Trump's executive order establishing a US Strategic Bitcoin Reserve, a move that could further integrate Bitcoin into the nation's financial strategy.

Trump signed an executive order on March 7 to use Bitcoin seized in government criminal cases to establish a national reserve.

The legislation, introduced by US Representative Byron Donalds, seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.

"For years, the Democrats waged war on crypto," Donalds, a Florida Republican, said in a statement to Bloomberg. "Now is the time for Congressional Republicans to decisively end this war."

#3

FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund's collapse

Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC's downfall was solely market-driven.

Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades turned sour. The hedge fund had borrowed from over 20 large institutions before the May 2022 crypto crash, which saw Bitcoin fall to $16,000.

However, recently discovered evidence shows that the FTX exchange liquidated $1.53 billion worth of 3AC's assets just two weeks ahead of the hedge fund's collapse.

3AC "asked a bankruptcy court to let it increase its claim against FTX from $120 million to $1.53 billion," according to Mbottjer, the pseudonymous co-founder of FTX Creditor, a group FTX creditors and bankruptcy claim buyers.

Prediction of the Week

Will Ethereum price bottom at $1.6K?

Ethereum's native token, Ether, dropped below $2,000 on March 10, and the altcoin has struggled to regain a position above the psychological level.

While Bitcoin and XRP exhibited minor recoveries over the past 24 hours, Ether prices failed to display bullish momentum in the charts.

The altcoin plummeted to a multi-year low of $1,752 on March 11. However, onchain data and technical analysis indicate that the price could drop an additional 15% in the coming weeks.

The current price deviation below $2,000 carried onchain implications for the altcoin. According to Glassnode, a data analytics platform, ETH dropped below its realized price of $2,054 for the first time since February 2023.

FUD of the week

Bitcoin apparent demand reaches lowest point in 2025 — CryptoQuant

Apparent demand for Bitcoin has hit the lowest level in 2025, dropping down into negative territory, as traders and investors take a cautious approach to risk-on assets due to macroeconomic uncertainty.

According to CryptoQuant's Bitcoin Apparent Demand metric, demand for Bitcoin has dropped down to a negative 142 on March 13.

Bitcoin's apparent demand has been positive since September 2024, peaking around December 2024 before beginning the slow descent back down.

However, demand levels stayed positive until the beginning of March 2025 and have continued to decline since that point.

FUD of the week

Crypto founders report deluge of North Korean fake Zoom hacking attempts

At least three crypto founders have reported foiling an attempt from alleged North Korean hackers to steal sensitive data through fake Zoom calls over the past few days.

Nick Bax, a member of the white hat hacker group the Security Alliance, said in a March 11 X post the method used by North Korean scammers had seen millions of dollars stolen from suspecting victims.

Generally, the scammers will contact a target with a meeting offer or partnership, but once the call starts, they send a message feigning audio issues while a stock video of a bored venture capitalist is on the screen; they then send a link to a new call, according to Bax.