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Some $15 billion worth of crypto assets have been transferred out of Kazakhstan as a result of insufficient regulations, the country’s central bank revealed. The announcement comes as financial authorities in Astana prepare to adopt comprehensive rules that will legalize and govern cryptocurrency investments and trading. Crypto assets for around $15 billion have been withdrawn from Kazakhstan , according to an estimate produced by the Central Asian nation’s monetary authority. The central bank’s Deputy Chairman Berik Sholpankulov unveiled the staggering total to local media this week, attributing the “leak,” in his words, mainly to the lack of proper regulations. Quoted by the Kazinform news agency, the official elaborated: “It’s a fact that administrative and legal regulation is not sufficiently structured so that citizens could invest safely.” At a press conference, Sholpankulov noted that financial regulators are now developing a more comprehensive approach that will tighten control over the circulation of digital assets and introduce criminal and administrative liability for illegal transfer of crypto funds abroad. In the future, the authorities in Astana will be able to track cryptocurrency transactions, he added, admitting it’s not currently possible to trace the $15 billion exported from the country so far. Kazakhstan now seeks to tap into a specialized system that will provide the technological means to do that. Sholpankulov also vowed to hold another briefing to share details about where the digital money was sent to and identify those who did it “name by name,” making it clear they will be subject to administrative and criminal prosecution. Cryptocurrency turnover has been growing in Kazakhstan since the country attracted a significant number of mining companies in the wake of the ban imposed on the industry by the Chinese government a few years ago. With a few available options to sell their coins in the country, miners have been transferring profits outside Kazakhstan, despite a requirement to exchange 75% of the minted crypto through trading platforms registered at the state-controlled Astana International Financial Center ( AIFC ). Existing regulations are significantly limiting opportunities for legal crypto trading and investing. According to government estimates, more than 91% of the $4.1 billion worth crypto transactions in 2023 were conducted in the gray market. However, the government seems to have finally realized it’s been losing money in the current circumstances, as it recently announced plans to legalize crypto trading beyond the jurisdiction of the financial hub in the capital city. Earlier this week, the National Bank of Kazakhstan ( NBK ) said it has developed legislative amendments aimed at achieving comprehensive regulation of the digital assets market. These envisage the licensing of cryptocurrency exchanges operating outside the AIFC. In the past three years, Kazakhstan has collected some $35 million in taxes from the crypto mining sector alone, the country’s Deputy Minister for Digital Development Kanysh Tuleushin highlighted. He emphasized that lifting the restrictions on trading would significantly increase budget revenues. In an op-ed piece published by the Kazakhstanskaya Pravda daily, Tuleushin called for adopting “flexible rules” for the crypto space and estimated: “Just a 10% tax could generate more than 190 billion tenge per year ($373 million), enough to build dozens of new schools and hospitals.” Former Soviet republics across Central Asia have been particularly active in the past months in efforts to tap into the growing crypto market. Kyrgyzstan recently secured Binance’s assistance in introducing cryptocurrency payments, while Tajikistan launched its first digital asset exchange. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

As the market leader, bitcoin opened the doors for spot crypto ETFs in early 2024 when 11 (at first, then 12) such products were finally greenlighted in the United States following years and years of delays and rejections. Ethereum followed suit in July and now the question is not if but which cryptocurrency will have its own spot exchange-traded fund in the US, with some of the leading contenders being XRP, SOL, DOGE, and LTC. Trying to summarize the importance of crypto ETFs in just one minute, Ripple’s CEO, Brad Garlinghouse, outlined two key reasons why these financial vehicles are so important. Before the January 2024 launch of spot BTC ETFs on Wall Street, institutional market participants had to rely on more unusual (for them) access points to get bitcoin exposure, such as cryptocurrency exchanges and self-custody. However, the introduction of these financial vehicles changed the game entirely for them, which is evident from the mindblowing demand for most spot Bitcoin ETFs, especially BlackRock’s IBIT. “So, this was really the first time you had institutions be able to go on Wall Street and trade directly in crypto,” Garlinghouse explained . Capital that previously couldn’t enter the cryptocurrency space, such as endowment, pension funds, or even mutual funds, now has a dozen options to do so. The second reason complements the first, Garlinghouse noted, as it simply changes the focus in the cryptocurrency industry, at least for the bigger projects, mostly on larger investors and institutions. As mentioned above, BlackRock’s IBIT broke multiple records in terms of net inflows for its year and a half in existence. “It should be no surprise that a Bitcoin ETF was the fastest ETF ever to get to $1 billion in assets.” It has become a behemoth as its total holdings are double that of the rest of the Bitcoin ETFs combined. As of Friday’s close, BlackRock’s BTC ETF had almost $48 billion in AUM as it continues to dominate the net inflows. IBIT has not seen a single day in the red since the market-wide crashes in early April. Consequently, Garlinghouse predicted that it will eventually close in on the gold ETFs as well. In terms of a spot Ripple ETF, the news from the SEC is somewhat expected as the agency continues to delay making a decision on a couple of filings. Polymarket shows that the chances of an XRP ETF hitting the US markets this year stand at well over 80%, but the percentage drops to 21% when the deadline is set at July 31. Nevertheless, Ripple saw some success on the ETF front as a few futures-based funds went live for trading in the past month or so.

The Sui blockchain and its decentralized exchange, Cetus, are working together to address the aftermath of a $223 million hack that occurred on May 22, 2025. After the attack, security teams froze $162 million of the compromised assets while $60 million in digital funds were moved to Ethereum. In a direct appeal, Sui and Cetus have asked the community to approve a protocol upgrade to unfreeze the remaining funds and restore them to user accounts. Cetus’ development team explained that only a community-wide, on-chain vote can authorize this protocol upgrade. Validators and SUI stakers are encouraged to participate in the decision, ensuring transparent governance. According to the Cetus Protocol, no party can impose a unilateral fix, highlighting the importance of decentralized oversight in crisis recovery. Cetus and its partners responded to the hack by using new technology and better governance. Following the detection of the attack, the Sui Foundation and Cetus developers teamed up with Inca Digital and law enforcement globally to prevent further losses. According to security experts, the key problem was a weakness in “get_delta_a” in Cusets’s code, which allowed the attacker to manipulate protocol liquidity and extract assets. By collaborating, Sui validators took steps to freeze stolen funds at the blockchain level to avoid any withdrawals by the attacker. As a result of the full blockade, $162 million was halted from movement, making the stolen funds unusable despite appearing on-chain. To protect the blockchain’s immutability, Sui developers developed a way to return the assets to the rightful owners without rolling back transactions. Combining this effort with a move to give up Sui’s voting power is meant to guarantee the community that only stakeholders will decide the outcome. After offering the attacker a white hat deal with a $6 million reward for voluntarily returning the stolen funds, Cetus revealed no communication had been received. As part of its response, the decentralized exchange announced a $5 million offer for information to identify and arrest the attackers. The Cetus team requested that any relevant tips, including names and locations, be submitted to their security team. The Sui Foundation will handle bounty payments, and legal pursuit will stop if the hacker cooperates. Related: Sui Blockchain Fast-Tracks Whitelist Function After Messy CETUS DEX Hack Although actions were taken quickly to stop the hacker, the values of some Sui-based tokens dropped sharply in reaction. Nonetheless, industry observers highlighted that this represents a significant turning point for decentralized finance (DeFi) security. The Sui Foundation and Cetus are keeping the community updated as they focus on preserving the protection of assets within the DeFi space. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The cryptocurrency market is buzzing, and all eyes are on Bitcoin as it continues its impressive run, recently hitting new all-time highs. Amidst this excitement, a significant technical indicator, the ‘Golden Cross,’ has emerged, capturing the attention of major players like Fidelity Digital Assets. But what exactly does this mean for the future of Bitcoin’s price, and why is a specific price level so crucial? In technical analysis, a Golden Cross is widely regarded as a strong bullish signal. It occurs when a short-term moving average crosses above a long-term moving average, typically the 50-day moving average crossing above the 200-day moving average. For Bitcoin, this pattern activated on April 7th, suggesting potential upward momentum. Why is this particular Bitcoin Golden Cross drawing so much focus? Because it often indicates a potential shift in market sentiment and can precede significant price rallies. However, the strength and validation of this signal often depend on subsequent price action. According to Chris Kuiper from Fidelity Digital Assets, the current Golden Cross could gain further strength and confirm its bullish implications if the Bitcoin price manages to hold above the $93,000 level. This $93,000 level likely represents a critical support zone, potentially aligning with key moving averages or previous resistance-turned-support levels. Maintaining the price above this threshold would reinforce the technical validity of the Golden Cross and suggest that the bullish trend has solid footing. As a major player in the institutional crypto space, the insights from Fidelity Digital Assets carry significant weight. Chris Kuiper’s commentary highlights their analytical approach, combining technical indicators like the Golden Cross with fundamental drivers. Fidelity’s view isn’t just about the technical pattern; it’s also tied to key price levels. While the $93,000 mark is seen as crucial for validating the Golden Cross, Fidelity also views the $110,000 level as a potential ‘launchpad’ for further gains. This suggests that breaking and holding above $110,000 could trigger the next leg up in Bitcoin’s price discovery, potentially accelerating the upward trend indicated by the Golden Cross. The fact that an entity like Fidelity Digital Assets is publicly discussing these technical and price levels underscores the increasing institutional acceptance and analysis of the cryptocurrency market using traditional financial tools and metrics. What’s fueling this optimistic outlook from institutions like Fidelity? A primary driver is the consistent and significant flow of capital into Bitcoin investment products, particularly Crypto ETF inflows. The introduction of spot Bitcoin ETFs in various markets has provided traditional investors with a regulated and accessible way to gain exposure to Bitcoin without the complexities of direct ownership. These ETFs have seen steady and substantial inflows since their launch, absorbing a significant portion of the newly mined Bitcoin supply and even drawing from existing holdings. Key drivers behind these robust Crypto ETF inflows and the broader institutional appetite include: While institutional interest and investment via avenues like ETFs are surging, it’s noteworthy, as U.Today reported, that retail participation has remained relatively limited compared to previous bull cycles. This dynamic suggests that the current rally is heavily institutionally driven, which can impact market structure and volatility differently than a retail-fueled surge. Since the activation of the Golden Cross on April 7th, the Bitcoin price has seen a remarkable increase of approximately 33%. This powerful upward move propelled Bitcoin to a new all-time high of $111,814. However, like any volatile asset, Bitcoin experienced a pullback, dropping to around $108,622 at the time of the report. This recent dip was partially attributed to rising U.S.-EU trade tensions, illustrating how broader macroeconomic and geopolitical factors can still influence the crypto market, even amidst strong underlying bullish trends. This highlights an inherent challenge for investors: navigating Bitcoin’s price movements requires not only understanding crypto-specific factors but also keeping an eye on the global economic landscape. Key price levels to watch based on the analysis include: The ability of the Bitcoin price to sustain itself above key technical and psychological levels will be critical in determining the short-to-medium term trajectory. The increasing focus on Institutional Bitcoin investment is not just a current trend; it’s a fundamental shift that could shape the market for years to come. As more large funds and corporations allocate portions of their portfolios to Bitcoin, the market gains deeper liquidity and potentially reduced volatility over the long term (though short-term swings remain likely). For readers interested in this space, understanding the drivers and impact of Institutional Bitcoin investment is key. These large players often have longer investment horizons and perform extensive due diligence, which can lend credibility to Bitcoin as an asset class. Their continued entry, facilitated by products like ETFs and the insights provided by firms like Fidelity Digital Assets, could provide sustained buying pressure independent of retail sentiment. While the path won’t be without its pullbacks and challenges, the structural change brought about by significant institutional adoption suggests a maturing market with potentially larger upside potential over time, supported by strong technical signals like a validated Golden Cross. Fidelity Digital Assets’ focus on the Bitcoin Golden Cross and the critical $93,000 level underscores the growing intersection of traditional financial analysis and the cryptocurrency market. Coupled with robust ETF inflows and increasing institutional interest, the outlook appears bullish, contingent on Bitcoin holding key support levels. While recent price action has seen Bitcoin pull back slightly from its all-time high, the underlying drivers, particularly from the institutional side, remain strong. The $110,000 level is eyed as a potential catalyst for the next phase of growth. As the market evolves, monitoring both technical indicators and the flow of institutional capital will be essential for understanding Bitcoin’s future trajectory. To learn more about the latest Bitcoin market trends, explore our article on key developments shaping Bitcoin institutional adoption . Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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