Crypto Market Surges: Bitcoin, Ethereum Up 25% in 7 Days – How High Can They Go?

• Bitcoin (BTC) and Ethereum (ETH) have seen a significant rally in the last seven days.
• Credit Suisse Group AG is facing pressure to merge with rival UBS AG, which could result in increased investor confidence.
• The current global crypto market capitalization has reached $1.17 trillion, showing an increase of 5.41% from the previous day.

Price Increase of Bitcoin and Ethereum

Bitcoin (BTC) and Ethereum (ETH) have seen a significant price surge in the last seven days, with Bitcoin soaring by more than 35% and Ethereum by more than 25%. This boost in the crypto market has sparked the interest of investors, who want to know how far these cryptocurrencies can go.The considerable increase in the value of Bitcoin can be attributed to actions aimed at improving the financial system. Moreover, increased investor optimism in the potential of the US decreasing interest rates later this year has also played a role in supporting Bitcoin’s gains.

Ethereum Price Surge

Ethereum, ranked as the second-biggest cryptocurrency in terms of market capitalization, has witnessed a substantial rise in its value. Presently, it is being traded at $1,809.90, with a 24-hour trading volume amounting to $12,940,582,584. This upswing in ETH’s price indicates a bullish trend in the cryptocurrency market. As of now in 2023, Bitcoin’s value has increased by an impressive 55%, which is quite a feat for such a short time. The current global crypto market capitalization has reached $1.17 trillion, which shows a 5.41% increase from the previous day.

Regulators Urge Credit Suisse and UBS To Merge

Credit Suisse Group AG is facing a critical weekend as authorities urge the failing Swiss lender to consider a merger with rival bank UBS AG. However, both banks have shown an unwillingness to merge; regulators do not have power to force merger either way .The 167 year old Credit Suisse shares jumped 9% amid it borrows$54 billion from Swiss central bank for liquidation and investor trust building purpose .

Bitcoin Prices Rise as Investors Seek Safe Haven

It’s worth noting that over this weekend , Credit Suisse CFO Dixit Joshi and his team worked on plans for strengthening liquidity position by using cash reserves instead of borrowing funds from other sources . As expected , investors reacted positively towards this decision leading them look towards bitcoin as safe haven asset .


These events demonstrate that despite recent bearish sentiment experienced throughout 2020 , there are still strong signs that digital assets could continue their upward trajectory moving into 2021 . It will be interesting to see how both BTC & ETH react over coming days once more news regarding their respective markets become available .

FSC Launches Crypto Exchange Probe: Which Exchanges Are Involved?

• South Korea’s top financial regulator, the Financial Services Commission (FSC), has launched a „comprehensive inspection“ of the nation’s crypto exchanges that do not have licenses to trade fiat KRW.
• FSC specifically wants to probe the 20 trading platforms and focus on anti-money laundering protocols.
• GDAC is the first exchange being inspected by the FSC, as it was involved in a controversial delisting of Wemix token last year.

South Korea Launches Crypto Trading Platform Probe

South Korea’s top financial regulator, the Financial Services Commission (FSC), has begun a „comprehensive inspection“ of the nation’s crypto exchanges that do not have licenses to trade fiat KRW. The FSC is investigating 20 trading platforms and plans to focus on anti-money laundering protocols.

Which Exchanges Are Involved?

Under South Korean law, exchanges can offer crypto-to-crypto trading services provided they meet certain criteria. To obtain fiat-trading licenses, however, they must form partnerships with commercial banks. These banks must provide all exchange users with real name-, social security number-verified accounts linked to their crypto wallets.The “big four” crypto exchanges – Upbit, Bithumb, Korbit and Coinone – have had such banking partnerships in place for several years. The remaining 21 South Korean exchanges have been left to pursue banking deals with domestic banks; only one – Gopax – has been successful so far.

FSC Probes GDAC Exchange First

The FSC stated that it would begin its probe with GDAC; this is one of the exchanges involved last year in the controversial delisting of Wemix token – a coin created by domestic gaming giant WeMade – which left observers stunned when it announced that it would list Wemix just two hours after “big four” announced their removals from their platforms. Some insiders believe that the FSC has decided to start its probe at GDAC due to this reason; others appear to believe that authorities may have started its investigation ahead of a possible GDAC application to rejoin KRW market which suggests some behind-the scenes deal could have been struck with a bank.

Real Name Verification Rule for All Exchanges

For all South Korean exchanges wishing to obtain licenses for fiat markets must partner up with commercial banks who must provide users real name-, social security number verified accounts linked up with their crypto wallets before they can start offering services legally on these markets according tot he law set by FSC regulations in place since 2019.


In conclusion, South Korean’s top financial regulator, Financial Services Commission (FSC) has launched an investigation into twenty cryptocurrency trading platforms without any license from KRW market and will be focusing mostly on anti money laundering protocols enforced by law in order for these platforms adhere too before beginning operations legally in accordance with existing rules set out by them officially since 2019..

Brazil to Introduce New Crypto Regulations: What to Expect


• The Head of the Brazilian Securities and Exchange Commission (CVM) has announced that a new decree will be released in the coming days to better regulate the crypto sector.

• This decree is expected to grant CVM the power to determine which tokens are securities.

• The Central Bank will function as the regulatory body for tokens that are not classified as securities, and they are also working on a decentralized finance (DeFi) project called Open Capital Market.

Brazilian Regulator Says New Crypto Laws Coming

The head of the Brazilian financial markets regulator, João Pedro Nascimento, has stated that a „decree“ will be released in „the next few days“ that will allow government-appointed bodies to better police the crypto sector. He added that this decree will likely grant the Securities and Exchange Commission (known in Brazil as CVM) the power to determine which tokens are securities.

Regulatory Power

Per Nascimento, whenever something touches on the field of securities it will fall under remit of CVM. Meanwhile, he noted that Central Bank is expected to function as regulatory body for tokens not classified as securities. Moreover, Nascimento claimed that these regulations have been „very well received“ by crypto sector and they have also been focusing on decentralized finance (DeFi) project called Open Capital Market with Central Bank’s collaboration.

Tightening Regulations

Late last year, Nascimento claimed that CVM’s regulations would not hamper domestic crypto market development and his objective was to help its development without making rules strangling it. Last month, Central Bank claimed it was also looking to tighten crypto regulations with its central bank digital currency (CBDC) project Digital Real; designed with view of helping small businesses grow faster rate than other nations’ retail-focused CBDC models.


It appears Brazil is gearing up for tighter regulation on cryptocurrencies with upcoming decrees from both Securities and Exchange Commission (CVM) for classifying security tokens and from Central Bank for other types of tokens such CBDCs along with DeFi Projects like Open Capital Market .