Suehyeon Lee

Democratic senators have strongly opposed the disbandment of the cryptocurrency crime investigation unit by the US Department of Justice (DOJ). According to CoinDesk on the 11th (local time), six Democratic senators, including Elizabeth Warren, known as a cryptocurrency opponent, strongly criticized the decision in an open letter to the Deputy Attorney General, stating that "disbanding the cryptocurrency crime investigation unit is a decision that gives a free pass to money launderers." Previously, Deputy Attorney General Todd Blanche announced the dissolution of the National Cryptocurrency Enforcement Team (NCET) and stated that developers of cryptocurrency exchanges, mixers, and offline wallets would not be held legally responsible.

The domestic virtual asset (cryptocurrency) exchange Coinone announced on the 11th that it will hold the 'April First Trade Event' until the 30th. The 'April First Trade Event' targets all members who have no trading history on Coinone since November 29, 2022. To participate, register the event code (2504FIRSTTRD) and make at least one trade regardless of the item during the event period. Participants in the event will be offered various benefits. A total of 10,000 people will receive Bitcoin (BTC) worth 20,000 KRW, and one person selected by lottery will receive a 1,000,000 KRW Hana Tour travel voucher. Benefits will be provided on May 9th (Friday) after the event ends. To receive the event benefits, you must agree to and maintain the benefit notification reception. A Coinone marketing representative stated, "We are diversifying the benefits that customers can gain throughout the entire process of using the exchange, from membership registration to the trading stage. We will continue to introduce various policies and events to strengthen customer benefits in the future."

It has been reported that Sam Bankman-Fried, founder of FTX, has been transferred to a high-violence prison. According to records from the U.S. Bureau of Prisons (BOP) cited by Decrypt on the 11th (local time), Sam Bankman-Fried was transferred to Victorville Medium II FCI, a medium-security federal prison located in California. This prison is notoriously known for its high level of violence and is nicknamed 'Victimville' among inmates. Meanwhile, Sam Bankman-Fried is serving a 25-year sentence handed down by a U.S. court for embezzling customer funds.

<Today's Major Economic Schedule> ▶︎April 11 (Fri): △US March Producer Price Index (PPI) (21:30 KST, 08:30 local time), △Earnings announcements from Bank of New York Mellon, BlackRock, JPMorgan Chase, Morgan Stanley, Wells Fargo <Today's Major Cryptocurrency Schedule> ▶︎April 11 (Fri): .

U.S. President Donald Trump has signed a resolution to repeal the IRS's 'DeFi Broker Regulation.' According to The Block on the 11th (local time), Trump signed a resolution to repeal the IRS's DeFi Broker Regulation, which was finalized at the end of the Biden administration. The resolution is known to have been jointly proposed earlier this year by Republican Senator Ted Cruz and Congressman Mike Carey. Regarding this, Congressman Carey emphasized, "Through this regulatory repeal, President Trump and Congress have provided an opportunity for the IRS to focus on its responsibilities to existing taxpayers rather than creating new bureaucratic barriers." Meanwhile, the DeFi Broker Regulation requires DeFi brokers to report total revenues from digital asset sales to the IRS.

The United States Securities and Exchange Commission (SEC) has announced new disclosure guidelines for virtual asset (cryptocurrency) companies involved in token issuance and related activities. According to CoinDesk on the 11th (local time), the SEC released non-binding guidelines the previous day, requiring virtual asset companies that issue tokens or engage in related activities to disclose in detail under federal securities laws. In particular, the guidelines emphasize that the disclosure content submitted by companies must be specific and clear about their business model and the role of the token. However, the guidelines did not delve deeply into which virtual assets are considered securities or provide specific definitions or criteria related to this.

The United States Securities and Exchange Commission (SEC) has withdrawn its lawsuit against Nova Labs, the developer of the Helium Network, regarding unregistered securities sales. According to The Block on the 11th (local time), the Helium Network announced on its blog that "the SEC has withdrawn its lawsuit against Nova Labs regarding unregistered securities sales." Helium stated, "The sale of hardware and token distribution for network growth is not automatically considered securities," adding, "This outcome will remove legal uncertainties for DePIN (Decentralized Physical Infrastructure Networks) projects that build physical infrastructure with crypto-based incentives."

Art Token announced on the 9th that it will participate in the Middle East's largest international art fair, 'Art Dubai 2025', which will be held from April 18 to 20, 2025. Art Token plans to showcase works at booth X15 in the digital section. The fair exhibition will feature four artists in their 20s to 60s, active in different cultural spheres such as Seoul, Hong Kong, and Tokyo. Virtual artist Genesis Kai proposes meditation through digital work inspired by traditional moon jars, while Jiyoon Oh creates monochrome paintings capturing the sea, time, and existence with traditional materials. Soonkyung Oh reinterprets folk paintings and colored paintings in a modern way, and Hiroyuki adds cats to classical masterpieces to convey humor and warmth. The booth concept is to place digital works and physical works side by side in one space, attempting a visual dialogue that crosses form, medium, era, and region. The works of the four artists with different backgrounds and senses are connected by the keyword 'now'. Hong Jisook, CEO of Art Token, said, "Through this participation in Art Dubai, Art Token aims to digitally reinterpret the artistry of Asian artists and introduce it to the international stage. In particular, we expect it to be a new starting point to inform the global art market, which has a high interest in K-Art, about the diversity and depth of contemporary Asian art."

An analysis has emerged that altcoins are left with the last rally of this cycle. According to Cointelegraph on the 4th (local time), Jamie Coutts, the chief cryptocurrency analyst at Real Vision, said in an X live streaming with Real Vision co-founder Raoul Pal the previous day, "I see one more strong move in the altcoin market in this cycle," adding, "However, I am not yet sure if the rally can last for 6 to 12 months." Coutts advised, "Altcoins accompanied by network activity will clearly show a recovery trend. You should observe where the network activity is concentrated and use it as a basis for trading." He predicted a rebound in the altcoin market within the next two months. Jamie Coutts added, "I expect altcoins to start a full-fledged upward trend around June," stating, "The premise is that Bitcoin (BTC) hits an all-time high again."

Lee Jae-myung, leader of the Democratic Party of Korea, expressed his stance on the Constitutional Court's unanimous decision by all judges to uphold the National Assembly's impeachment motion. On the 4th, Lee held an emergency press conference at the National Assembly, stating, "The great people have regained Korea. I sincerely express my respect and gratitude to the people who have protected the Republic of Korea." He also said, "It is a tragedy that a sitting president has been impeached twice in a row, which should never happen again. From now on, the real Korea begins. Together with the people, I will restore the collapsed livelihood, peace, and economy with the spirit of great unity. I will surely open the path of growth and development so that all people can live in a safe and peaceful country."

A hearing for Michelle Bowman, nominee for Vice Chair of the US Federal Reserve (Fed), will be held next week. On the 4th (local time), Eleanor Terrett, host of Crypto in America, reported on X that "the Senate Banking Committee, led by Republicans, is scheduled to hold the official confirmation hearing for Bowman, nominee for Vice Chair of the Fed, on the 11th." Bowman is likely to oversee the Fed's financial supervision duties, replacing current Vice Chair Michael Barr. Therefore, questions related to bank regulation and virtual asset (cryptocurrency) policies are expected to arise in this hearing.

The Constitutional Court has accepted the impeachment motion against President Yoon Suk-yeol. At 11:22 AM on the 4th, the Constitutional Court accepted the impeachment motion against President Yoon Suk-yeol with a unanimous 8-0 decision. As a result, President Yoon Suk-yeol was removed from office 112 days after the National Assembly's impeachment motion resolution. The Constitutional Court stated, "It is recognized that the constitutional benefits gained by removing the respondent outweigh the national loss associated with the president's removal. Therefore, the unanimous opinion of all justices is delivered in the ruling." Regarding the court's decision, the People Power Party stated, "Although regrettable, we humbly accept the court's decision." The Democratic Party of Korea called it "a victory for the great people who achieved the revolution of light" and urged "Yoon Suk-yeol and the People Power Party to sincerely apologize to the people."

It appears that the state of Illinois, USA, is set to withdraw its lawsuit against Coinbase's staking service. On the 4th (local time), a spokesperson for Illinois Secretary of State Alexi Giannoulias told CoinDesk, "We plan to withdraw the lawsuit against Coinbase's staking service." However, they did not specify the exact timing of the withdrawal. Previously, three states—Kentucky, Vermont, and South Carolina—had withdrawn their lawsuits against Coinbase's staking service.

Dunamu's ESG Management Committee, which operates Upbit, Securities Plus, and Securities Plus Unlisted, announced on the 4th that it will conduct the 'Seed Vault NFT Collection HealingForestChallenge (hereinafter HealingForestChallenge)' to wish for forest restoration on Arbor Day, April 5. The 'HealingForestChallenge', in collaboration with the Environmental Foundation, is part of the Seed Vault NFT Collection project, designed to raise awareness of biodiversity and conserve plant ecosystems. It will run for about two weeks from Arbor Day on April 5 to the 20th, and participants can join by uploading drawings of forests in various forms such as digital drawings or hand drawings on Instagram with the HealingForestChallenge hashtag. 100 selected best works will receive prizes such as the Seed Vault NFT Limited Edition Mugunghwa Hand Cream and Megabox movie tickets. Additionally, to honor the purpose of Arbor Day in fostering forest resources, Dunamu plans to prepare funds equivalent to the number of HealingForestChallenge participants and contribute to the creation of the third endangered plant conservation site for Seed Vault NFT Collection Season 3. The Seed Vault NFT Collection is a representative social contribution activity utilizing Dunamu's blockchain technology. It operates by creating NFTs based on seed images stored in the 'Baekdudaegan Global Seed Vault', the world's only wild plant seed conservation facility operated by the Korea Arboretum and Garden Management Institute, and issuing them through Upbit NFT. Song Chi-hyung, Chairman of Dunamu's ESG Management Committee, said, "The 'Seed Vault NFT Collection HealingForestChallenge' is an extension of Dunamu's ongoing environmental ESG efforts under the keyword 'tree', and it will be a meaningful first step towards ecosystem restoration in response to the recent largest forest damage in history."

<Today's Major Economic Schedule> ▶︎April 4 (Fri): △US March Employment Report (21:30 KST, 08:30 local time) △Jerome Powell Federal Reserve Chair Speech (00:25 KST on April 5, 11:25 local time) △Michael Barr Federal Reserve Governor Speech (00:25 KST on April 5, 11:25 local time) △Christopher Waller Federal Reserve Governor Speech (01:45 KST on April 5, 12:45 local time) <Today's Major Cryptocurrency Schedule> ▶︎April 4 (Fri):

An unexpected variable has been added to the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. On the 3rd (local time), Eleanor Terrett, the host of Crypto in America, reported on X that a person named Justin W. Kynor submitted an emergency request to the court, claiming to present decisive evidence for the freedom of the American people in the lawsuit between the SEC and Ripple. However, the document does not contain specific evidence details, only hinting that it is related to physical investment contracts collected by Kynor. Meanwhile, Terrett added about the person named Kynor, "Kynor was recently sued by the SEC for unregistered penny stock trading charges and was ordered by the court to pay over $10 million."

BlackRock held a meeting with the U.S. Securities and Exchange Commission (SEC) Crypto Asset (Cryptocurrency) Task Force (TF), sparking expectations that the approval of a new crypto asset spot ETF is imminent. On the 4th (local time), Nate Geraci, CEO of the U.S. ETF Store, reported on X that "BlackRock met with the SEC Crypto Asset TF earlier this week to discuss the issuance and redemption structure of a crypto asset spot ETF." He expressed optimism, saying, "This is a positive signal that the approval of a new spot ETF is imminent."

Progress has been made in the legislation of the U.S. Stablecoin Regulation Bill (STABLE Act). According to CoinDesk on the 3rd (local time), the Stablecoin Regulation Bill was introduced to the House after a vote by the House Financial Services Committee. In this committee vote, 27 Republicans and 5 Democrats voted in favor, passing with a total of 32 to 17. The bill focuses on increasing the transparency of stablecoins and clarifying issuer responsibilities. If it passes both the House and Senate votes, both sides will begin working on a unified bill. The Republicans and President Donald Trump have set a goal to complete the final legislation by August.