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Taiwan establishes association to help crypto firms self regulate

In a significant development for Taiwan’s cryptocurrency sector, the establishment of the Virtual Asset Service Provider Association has been announced. This initiative marks a pivotal moment in the country’s efforts to enhance regulatory standards and foster responsible growth within the virtual asset industry.

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In a significant development for Taiwan’s cryptocurrency sector, the establishment of the Virtual Asset Service Provider Association has been announced. This initiative marks a pivotal moment in the country’s efforts to enhance regulatory standards and foster responsible growth within the virtual asset industry.

The newly formed association aims to bring together key stakeholders, including virtual asset service providers and regulatory authorities, to collaborate on shaping industry best practices and promoting compliance with regulatory requirements. By providing a platform for dialogue and cooperation, the association seeks to cultivate a more transparent and resilient ecosystem for virtual asset services in Taiwan.

The formation of the association underscores Taiwan’s proactive approach to regulating the virtual asset space while also fostering innovation and competitiveness. By working closely with industry participants, regulators can gain valuable insights into emerging trends and risks, enabling them to develop effective regulatory frameworks that balance innovation with investor protection.

Furthermore, the establishment of the association signals Taiwan’s commitment to international standards and cooperation in addressing common challenges related to virtual asset regulation. By aligning with global best practices, Taiwan aims to enhance its standing as a trusted jurisdiction for virtual asset services and attract investment and talent to the country’s burgeoning blockchain ecosystem.

As the Virtual Asset Service Provider Association begins its operations, stakeholders can look forward to increased collaboration and dialogue on key issues such as anti-money laundering (AML) and counter-terrorism financing (CTF) measures, cybersecurity, and consumer protection. Through collective action and shared responsibility, the association endeavors to promote the long-term sustainability and integrity of Taiwan’s virtual asset industry.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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