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Crypto to be included in South Korean bankruptcy cases

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Five licensed exchanges who offer crypto trading have agreed on the terms on a deal, including the popular Upbit.

They will work with the Seoul Bankruptcy Court on specific cases.

Courts had previously struggled to recognise crypto as an authentic asset class.

Some courts believe individuals filing for bankruptcy have attempted to ‘conceal’ their financial holdings by purchasing crypto-assets.

But one judge recently decided an individual’s Bitcoin wallet was part of their property in a landmark case last year.

No crypto firms have signed an agreement with a domestic legal body in the nation of around 52 million people.

Courts are investigating a national framework to determine the price of crypto-assets at specific times.

There are hopes the landmark deal will also change the public’s perception of crypto.

Meanwhile, crypto has been trading at the bottom of a year-long price range, down 6 per cent in the past 24 hours.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Crypto

NEW SCAM – Bart Simpson draws the eyes of unassuming crypto investors

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This image is doing the rounds for tricking unassuming Ripple investors

The image shows Bart Simpson scrawling XRP to hit 589 dollars by the end of financial year on his chalkboard.

A number of crypto outlets and Reddit posts are using the fake image as perhaps a sign of the show making another prediction.

Of course, the world’s most famous family has become known for predicting events like Donald Trump’s presidency.

It turns out the fake screenshot is from 2020 when a YouTube channel used it as a thumbnail.

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Crypto

SWIFT could soon be opening up with blockchain assets after new deal

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SWIFT could soon open up even further with blockchain assets

The financial telco is teaming up with the blockchain oracle network, Chainlink.

The pair are working on a proof-of-concept, which would allow SWIFT to allow token transfers across a range of blockchain environments.

The company believes this will give financial institutions the chance to become blockchain-friendly, without higher costs.

It’s not the first time these two firms have worked together. In fact, another proof-of-concept around bond issuance was tested around five years ago.

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Business

We know how the crypto market will recover, but when?

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$2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery

The crypto market took a huge hit after the Federal Reserve’s announcement of quantitative easing, but one analyst is predicting that both bitcoin and ethereum could stage a recovery in the near future.

According to a report from investment firm JP Morgan, the two largest cryptocurrencies by market capitalization could see prices rise to $14,000 and $3,900 per coin, respectively.

This would represent a significant rebound from their current levels of around $10,000 and $200.

The report cites the recent influx of institutional investors into the crypto space as a key driver of this price growth.

With more and more big money players getting involved in crypto, JP Morgan predicts that the market could soon see a “new paradigm” of price discovery.

So far, crypto has been largely driven by retail investors, who are often more prone to emotional buying and selling.

With institutional investors coming in, there could be more stability in the market and less volatility.

JP Morgan’s report is just one of many bullish crypto predictions that have come out in recent months.

With more and more mainstream companies and financial institutions taking crypto seriously, it seems that the once-niche market is finally coming into the mainstream.

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