Losses from cryptocurrency attacks and scams fell to their lowest level in December 2024, totaling only $28.6 million, according to CertiK's report.

The cryptocurrency market experienced a significant decline in losses due to attacks and scams in December 2024, marking a positive end to a tumultuous year.

According to data from blockchain security company CertiK published on December 31, the total loss value in December was only $28.6 million, a sharp decrease from $63.8 million in November and $115.8 million in October. This downward trend brings hope for greater stability and security in the cryptocurrency sector.

Jordan approves the national blockchain policy, aiming for economic modernization and enhanced government transparency by 2025.

On January 2, the Jordanian Cabinet approved an ambitious national blockchain policy aiming to integrate this technology into public services by 2025. This initiative is expected to improve government operational efficiency, enhance data security, and build public trust, while also contributing to the country’s comprehensive digital transformation strategy.

The T3 Financial Crimes Unit has frozen $126 million in assets related to money laundering and fraud, raising debates about privacy in the cryptocurrency sector.

Since its establishment in August 2024, the T3 Financial Crimes Unit (FCU), a coalition of Tether, the Tron network, and TRM Labs, has made significant strides in the fight against financial crime in the cryptocurrency space.

Morgan Stanley is considering integrating cryptocurrency trading into E-Trade, based on expectations of a more cryptocurrency-friendly policy from the incoming administration of President-elect Donald Trump.

According to a report from The Information on January 2, Morgan Stanley is expected to leverage the more favorable regulatory environment as Trump commits to bringing pro-cryptocurrency leaders into key regulatory agencies. He has also emphasized the goal of making the U.S. the 'global cryptocurrency capital.'

What are algorithmic stablecoins?

Algorithmic stablecoins are a distinct type of cryptocurrency compared to traditional stablecoins pegged to external assets like fiat. These stablecoins utilize smart contracts and algorithms to minimize price volatility by dynamically adjusting the money supply based on market demand. Two typical examples of algorithmic stablecoins are TerraClassicUSD (TerraUSD) and Ampleforth (AMPL).

What is an algorithmic stablecoin?

Algorithmic stablecoins are a type of cryptocurrency that differs from traditional stablecoins that are pegged to an external asset such as fiat currency. These stablecoins use smart contracts and algorithms to minimize price volatility by dynamically adjusting the money supply based on market demand. Two notable examples of algorithmic stablecoins are TerraClassicUSD (TerraUSD) and Ampleforth (AMPL).

The People's Bank of China is required to closely monitor transactions related to cryptocurrencies, making it more difficult to buy and sell digital assets domestically.

On December 31, the South China Morning Post reported that China's foreign exchange regulator had issued new regulations requiring domestic banks to strengthen monitoring and reporting of high-risk foreign exchange transactions, including those related to cryptocurrency assets. This regulation is seen as the latest step by Beijing to tighten control over the cryptocurrency market, which has been banned since 2019.

A proposal to amend the Swiss constitution requiring the National Bank to hold Bitcoin in reserves has been officially launched, needing 100,000 signatures to trigger a referendum.

On December 31, the Federal Office of Switzerland officially registered a proposal to amend the Constitution, opening the possibility of adding Bitcoin to the list of national reserve assets. If approved, this proposal will mark a significant turning point in recognizing Bitcoin as an official reserve asset at the national level.

BlackRock's spot Bitcoin ETF attracted over $37 billion in 2024, far surpassing its competitors and confirming its leading position in the booming cryptocurrency ETF market.

The spot Bitcoin ETF market in 2024 has witnessed the absolute dominance of BlackRock, the largest asset manager in the world.

According to data from Farside Investors published on December 31 on platform X, BlackRock's iShares Bitcoin Trust (IBIT) attracted over $37 billion in net capital flow, more than 3 times that of the second fund, Fidelity Wise Origin Bitcoin Fund (FBTC), which had nearly $12 billion. This significant gap indicates BlackRock's strong appeal to investors in the digital asset field.

The Blockchain Association has officially sued the U.S. Internal Revenue Service (IRS), accusing the new regulation on reporting digital asset transactions of violating existing law and creating an unnecessary burden on technology developers.

The lawsuit was filed immediately after December 27 when the IRS issued regulations requiring brokers, including decentralized exchange (DEX) platforms, to provide detailed information about cryptocurrency transactions, starting from 2027. This regulation significantly expands the scope of reporting, including information about taxpayers, while raising concerns about the invasion of DeFi users' privacy and increasing compliance obligations for software developers.

Decentralized exchange (DEX) reached a record trading volume of 462 billion USD in December, despite the correction in the memecoin market.

December 2024 marks an important milestone for the decentralized finance (DeFi) sector as trading volume on DEXs reached an all-time high of 462 billion USD, according to data from DefiLlama published on December 30.

The above figure continues the impressive growth from November, when the trading volume reached 374 billion USD. This surge occurred against the backdrop of the cryptocurrency market in general and memecoin in particular experiencing a period of high volatility.

The National Bank of Cambodia (NBC) allows financial institutions to provide services related to backed cryptocurrencies, marking a cautious step into the digital asset market.

On December 27, the National Bank of Cambodia (NBC) officially announced a prakas (directive) allowing licensed commercial banks and payment institutions to provide services related to type 1 cryptocurrency assets, specifically backed or stable value cryptocurrencies.

The Hanoi police have successfully dismantled a large-scale cryptocurrency scam, preventing 300 potential victims and recovering an amount of up to 30 billion VND.

On December 24, the Hanoi Police successfully dismantled a sophisticated cryptocurrency scam, protecting nearly 300 people from the risk of losing money and recovering an estimated amount of about 30 billion VND. The case is related to the company Million Smiles, which has defrauded around 100 businesses and 400 individuals through a counterfeit cryptocurrency called QFS (Quantum Financial System).

The U.S. Department of the Treasury, established in 1789, is responsible for managing the federal government's finances, collecting taxes, issuing currency, and overseeing public debt. The core responsibility of this agency is to ensure national financial stability, providing funding for government operations and promoting economic growth.

The Treasury operates by issuing debt instruments such as Treasury bills, notes, and bonds, which are seen as one of the safest investments globally due to full backing by the U.S. government.

'Pig butchering' scams caused a record loss of $3.6 billion in 2024, surpassing other forms of cryptocurrency fraud, according to a report by Cyvers.

2024 witnessed a concerning rise of the 'pig butchering' scam in the cryptocurrency sector. According to the latest report from Web3 security company Cyvers, this form of scam caused losses of up to $3.6 billion, surpassing all other forms of cryptocurrency fraud and becoming the top threat of the year. This figure highlights the severity of the issue, especially when compared to the FBI's estimate of $3.96 billion in losses due to similar scams in 2023.

Many Squid Game tokens emerged after season 2 was released, causing the community to worry about the risk of scams and rug pulls.

After Netflix released the second season of the hit series Squid Game on December 26, the cryptocurrency market witnessed a surge in tokens named after the show. However, this quickly raised alarm bells in the community about the risk of scams and rug pulls – a tactic where developers abruptly withdraw funds, causing the token's value to plummet and investors to lose everything.

From 2027, DeFi trading platforms in the U.S. will have to report cryptocurrency transactions to the IRS.

On December 27, the U.S. Internal Revenue Service (IRS) officially issued regulations requiring brokers in the digital asset sector, including decentralized finance (DeFi) trading platforms, to report cryptocurrency transactions. The regulation is expected to take effect in 2027, marking a significant turning point in the oversight and tax management of the rapidly growing cryptocurrency market.

6 mutual funds tracking Bitcoin prices will officially trade in Israel starting December 31, marking a new advancement in the country's access to the cryptocurrency market.

On December 25, the Israel Securities Authority (ISA) officially licensed 6 mutual funds tracking Bitcoin prices to operate, opening the door for local investors to more easily access the cryptocurrency market.

These funds, expected to launch on December 31, will be offered through banks and investment companies nationwide, allowing trading in shekels, Israel's currency. This is seen as an important step, reflecting the increasing acceptance of digital assets by regulatory authorities.

Singapore surpasses the USA and China to become the leading country in blockchain technology, thanks to impressive numbers of patents, jobs, and cryptocurrency exchanges.

According to a December 21 study by ApeX Protocol, the multi-chain liquidity platform ranked Singapore as the world's leading country in blockchain technology, with a total score of 85.4. The study evaluates based on three main criteria: the number of blockchain patents, jobs related to this technology, and the number of operating cryptocurrency exchanges in each country.

Agridex completed its first coffee transaction on the Solana blockchain, reducing transaction fees from 5-7% to just 0.5% and shortening payment times from 5-12 days to just a few seconds.

On December 25, the real-world asset (RWA) platform Agridex, operating on the Solana blockchain, marked a significant milestone in applying blockchain technology to agriculture with the first coffee transaction fully executed on-chain.