$BTC The Three Kingdoms are hunting the crypto world! Thailand bans exchanges, South Korea allows tax-free trading, and CME swallows up 96% of the market value!
1. The Thai government announced: Starting from June 28, Bybit, OKX and other 5 exchanges will be completely banned for the reason of operating without a license!
What should users do?
Transfer assets immediately! If you don’t transfer them before June 28, you may not get your money back, and you may even be held accountable.
Why is it banned suddenly?
There are two real purposes: to eliminate the risk of money laundering and use the new law "Technology Crime Law" as a weapon
Paving the way for its own digital currency, the national version of the digital asset G-Token will be launched in July, and it is only allowed to be traded on licensed exchanges
Thailand clears the "wild road" exchanges, forcing users to switch to regular platforms, and clearing obstacles for the listing of the national digital currency G-Token.
2. South Korea exempts non-profit organizations from crypto trading fees, effective in June
Policy core: South Korea's FSC allows non-profit organizations and exchanges to trade cryptocurrencies for free from June, covering the three major platforms of Upbit, Bithumb, and Coinone (accounting for 85% of the country's trading volume).
Restrictions: Cryptocurrencies accepted for donation must be converted into Korean won to ensure anti-money laundering compliance and financial transparency.
Industry significance: South Korea's crypto donations will reach 140 million + 38% in 2024. The new regulations may promote the flow of funds on the chain in the charity field and attract global donations
3. CME's four new crypto indexes will be launched on June 2
Chicago Mercantile Exchange CME and CF Benchmarks jointly launched reference interest rates and real-time indices for Arbitrum, Sui, NEAR, and Ondo, covering more than 96% of the investable crypto market value.
Institutional impact: The new index provides pricing tools for funds and structured products, accelerating the integration of Layer1 and DeFi assets into the traditional financial system. For example, Ondo has added additional New York time quotes to meet cross-time zone needs.
4. Market volatility and liquidation risk
On May 30, Bitcoin fell below $105,000 (-3%), Ethereum and Dogecoin fell 5% and 10% respectively, and the entire network liquidated $711 million in 24 hours, with more than 210,000 people liquidated.
Policy correlation: The main reasons for the plunge were repeated US tariffs and weak inflation data, and the news of Thailand's blockade of exchanges exacerbated panic. Previously, on May 22, Bitcoin hit a new high of $110,800, and Trump's voice boosted market sentiment.
Institutional dynamics, FTX initiated bankruptcy claim payments on May 30, using $11.4 billion in cash reserves to repay major creditors.
