South Korea plans to introduce crypto-tracking system.
The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities. The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance.
IRS reminds taxpayers of crypto income reporting.
With the deadline approaching for filing the 2022 federal income tax return, the IRS released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms, which have been updated to “digital assets.”
Sam Bankman-Fried seeks right to transfer FTX’s crypto.
Lawyers for Sam Bankman-Fried have argued he should be allowed access to assets and crypto held by his former company FTX, saying there’s no evidence he’s responsible for previous alleged unauthorized transactions. Bankman-Fried is currently on bail facing charges including wire fraud and money laundering, to which he has pleaded not guilty.
BTC/USD exploded 3.2% in the last session.
The Bitcoin-Dollar pair skyrocketed 3.2% in the last session. The Stochastic-RSI’s positive signal is in line with the overall technical analysis. Support is at 22735.6667 and resistance at 23327.6667.
The Stochastic-RSI is currently in the positive zone.
ETH/USD skyrocketed 4.9% in the last session.
The Ethereum-Dollar pair skyrocketed 4.9% in the last session. The Stochastic-RSI is giving a positive signal. Support is at 1535.5767 and resistance at 1624.7167.
The Stochastic-RSI is giving a positive signal.
XRP/USD skyrocketed 1.6% in the last session.
The Ripple-Dollar pair exploded 1.6% in the last session. The Stochastic indicator is giving a negative signal, going against our overall technical analysis. Support is at 0.3989 and resistance at 0.4211.
The Stochastic indicator is currently in negative territory.
LTC/USD skyrocketed 7.5% in the last session.
The Litecoin-Dollar pair skyrocketed 7.5% in the last session. The CCI indicates an overbought market. Support is at 86.171 and resistance at 91.651.
The CCI is signalling an overbought market.
Daily Economic Calendar:
US Dallas Fed Manufacturing Business Index
The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state’s factory activity. The US Dallas Fed Manufacturing Business Index will be released at 15:30 GMT, the US 3-Month Bill Auction at 16:30 GMT, and Germany’s Gross Domestic Product at 07:00 GMT.
US 3-Month Bill Auction
Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity.
DE Gross Domestic Product
The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health.
EMU Business Climate
The Business Climate indicator is based on monthly surveys and is designed to deliver a clear and timely assessment of the cyclical situation within the local economy. The Eurozone’s Business Climate will be released at 10:00 GMT, Japan’s Jobs / Applicants Ratio at 23:30 GMT, Japan’s Unemployment Rate at 23:30 GMT.
JP Jobs / Applicants Ratio
The Jobs to Applicants Ratio released by the Japan Institute of Labour is obtained by dividing monthly active job openings by monthly active applications.
JP Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
