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According to local reports, the Australian Securities and Investment Commission (ASIC) has started legal procedures against two crypto companies and their directors for operating unlicensed in the country.
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Venture capitalists are capitalizing on the recent resurgence of the cryptocurrency market as they rush to raise new funds.
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Last week, the crypto investment landscape witnessed a significant exodus of capital from global crypto funds. A recent report from CoinShares highlighted nearly $1 billion net outflow from these funds, marking a historic departure from a 7-week inflow streak that had cumulatively amassed $12.
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The crypto investment space has reached a notable mark, with trading volumes hitting a high of $30 billion in trading volume last week. This surge, as reported by CoinShares, signifies a pivotal moment in accepting and integrating cryptocurrencies into mainstream financial portfolios.
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The crypto market, particularly Bitcoin, has recently experienced significant outflows. According to a recent report from CoinShares, digital asset investment products worldwide saw net outflows of $500 million last week.
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