Crypto Currency
South Korea to Impose Bank-Level Liability on Crypto Exchanges After Upbit Hack: Report
South Korea is preparing a sweeping regulatory overhaul that would hold cryptocurrency exchanges to the same liability standards as banks. The proposed rules come in response to the recent security breach at Upbit and a growing pattern of system failures across the country’s digital asset trading platforms.
According to The Korea Times, citing government officials and industry analysts, the Financial Services Commission (FSC) is reviewing new provisions that would impose no-fault, bank-level compensation requirements on crypto exchanges. Under this model, platforms would be required to reimburse customers for losses due to hacks, outages or system errors — even if the exchange was not directly at fault.
Currently, this no-fault framework applies only to banks and electronic payment providers under Korea’s Electronic Financial Transactions Act.
Upbit Hack Triggers Regulatory Escalation
The regulatory push follows the Nov. 27 Upbit incident, where more than 104 billion KRW worth of Solana-based tokens — approximately $30.1 million — were transferred to external wallets within an hour. Upbit’s operator, Dunamu, has since faced scrutiny not only for the breach but also for the delayed reporting of the incident.
Lawmakers noted that although the hack was detected shortly after 5 a.m., the exchange did not notify the Financial Supervisory Service (FSS) until nearly 11 a.m. Some have alleged that the delay may have been intentional, occurring minutes after Dunamu finalized a merger deal with Naver Financial.
Recurring System Failures Amplify Concerns
New data submitted by the FSS shows that South Korea’s five largest exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax — recorded 20 system failures since 2023, impacting more than 900 users and causing over 5 billion KRW in combined losses.
Upbit alone reported six failures, affecting over 600 customers.
The upcoming legislative revision is expected to introduce:
- Stricter IT security and operational requirements
- Heightened accountability standards
- Penalties of up to 3% of annual revenue for hacking incidents — aligning crypto exchanges with banks
Currently, exchanges face a maximum fine of only $3.4 million, a fraction of what banks can be penalized.
Stablecoin Legislation Also Under Pressure
In parallel with the exchange liability overhaul, lawmakers are pushing regulators to finalize a draft stablecoin bill by Dec. 10. As reported by Cointelegraph, legislators warned they will advance the bill without government input if the deadline is missed.
The goal is to bring the proposal to debate during the National Assembly’s extraordinary session in January 2026.
Crypto Currency
TD Sequential Hints at XRP Buy Opportunity With $2.40 in Sight
Ripple’s XRP is drawing renewed interest from traders as both technical indicators and on-chain fundamentals align near critical support levels. A fresh TD Sequential “9” buy signal on the weekly chart suggests XRP may be primed for a short-term rebound, supported by rising ETF inflows and continued whale accumulation. With $2.00 acting as a strong psychological and structural support zone, market participants are now watching whether XRP can stabilize above $2.10 and move toward the $2.30–$2.40 range.
TD Sequential Points to Potential Upside Shift
XRP recently printed a TD Sequential “9” buy signal near $2.09, appearing shortly after a 9.5% pullback from local highs around $2.20. According to analyst Ali Martinez, this indicator has historically been reliable for XRP during 2025, often signaling exhaustion in ongoing trends and preceding meaningful reversals.
The token is currently trading between $2.05 and $2.15, and analysts note that traders should wait for confirmation through price strength and rising volume before assuming a sustained rally. While the TD Sequential offers structural insight, Martinez emphasizes that it should not be treated as a direct forecast. Market context — including support, resistance, and liquidity — remains key to interpreting the signal.
If XRP manages to consolidate above $2.10, the charts suggest a probable retest of mid-channel resistance at $2.30–$2.40. A breakout beyond this range could attract momentum traders looking to capitalize on renewed upward pressure within the token’s channel structure.
Institutional Interest Continues to Build
Institutional inflows are reinforcing XRP’s support zone. According to WhaleInsider, XRP ETFs recorded $12.84 million in inflows on December 5, marking 13 straight days of positive contributions. Total ETF AUM has now reached approximately $881 million, surpassing early inflow trends seen in Bitcoin and Ethereum ETFs during their initial phases.
Whale accumulation is also notable between $1.80 and $2.00, forming a strong cluster of on-chain demand. These buying zones often serve as buffers during market pullbacks, further strengthening the likelihood that XRP can defend its current support levels.
Still, analysts caution that broader macro trends — particularly regulatory decisions, liquidity shifts, and sentiment — could influence short-term price action. Sustained consolidation above $2.00, combined with a daily close above $2.10, would improve the odds of a move toward $2.30–$2.40.
XRP Approaches a Decision Point
With technical indicators flashing optimism and institutional players adding to positions, XRP is nearing a decisive moment. Should the market maintain support above $2.10, the path toward $2.40 becomes increasingly realistic. Traders are advised to monitor volume, channel boundaries, and on-chain positioning while maintaining disciplined risk management in this volatile environment.
Crypto Currency
Grayscale Launches Chainlink ETP (GLNK) With $64M AUM, Sparks Institutional Interest in LINK
Grayscale’s new GLNK product debuted with $64 million in assets under management, raising $42 million on day one and offering institutions regulated, custody-free access to Chainlink’s LINK token.
Grayscale Investments has launched the Chainlink exchange-traded product GLNK, which began trading on NYSE Arca and opened with $64 million in assets under management, including $42 million of inflows on its first day. The physically backed ETP holds LINK tokens directly and is designed to give institutional and brokerage-channel investors exposure to Chainlink without the need to manage wallets or private keys.
Institutional Access, Simplified Custody
GLNK provides a familiar, regulated route for institutions that want LINK exposure through traditional brokerage accounts. By holding LINK on behalf of investors, Grayscale eliminates the operational burdens of self-custody—an important consideration for asset managers and fiduciaries that face strict custody and compliance requirements.
Michael Sonnenshein, CEO of Grayscale Investments, framed GLNK as a bridge between institutional capital and Chainlink’s on-chain infrastructure, describing the product as a first-of-its-kind U.S. ETP to hold LINK directly.
Market Effects and Early Metrics
The product’s debut quickly affected market activity. Reporting indicates a 180% rise in LINK trading volume around the launch and a roughly 6% price uptick amid otherwise tepid market conditions. Early inflows mirror patterns seen when other regulated products—most notably Bitcoin ETFs—attracted concentrated institutional capital and shifted price-discovery dynamics.
Analysts suggest GLNK may gradually tilt LINK’s liquidity and price sensitivity toward institutional flows rather than purely on-chain demand. If historical precedents hold, large, sustained inflows into a regulated product can become a dominant price driver independent of token utility metrics.
What Comes Next
Market watchers will be tracking sustained AUM growth, redemption behavior, and whether GLNK draws capital away from on-chain liquidity pools. The ETP’s performance, and how quickly it attracts capital beyond the initial surge, will determine its longer-term impact on LINK’s market structure and price formation.
Crypto Currency
BPCE Launches Crypto Trading in France
BPCE, France’s second-largest banking group, has officially introduced cryptocurrency trading within its retail banking apps — a milestone that brings digital assets directly into the country’s mainstream financial system. Through Banque Populaire and Caisse d’Epargne, millions of French clients will now be able to buy and hold major cryptocurrencies such as Bitcoin, Ether, and Solana without leaving their traditional banking environment.
The move positions BPCE as one of the largest global banks to integrate crypto trading at scale, marking a significant evolution in the relationship between traditional finance and digital assets.
Crypto Trading Integrated Into Banking Apps
BPCE’s rollout allows users to access cryptocurrencies directly inside the same mobile apps they use for everyday banking. The offering is launching in phases, initially targeting retail clients across France.
BPCE’s digital-asset arm, Hexarq, is handling the crypto infrastructure, while senior leadership — including Nicolas Namias, Chairman of the Management Board — oversees the integration strategy.
The addition of crypto marks one of the most significant product expansions in French retail banking, signaling stronger institutional acceptance of digital assets in regulated environments.
Retail Impact: Direct Access to BTC, ETH, SOL
French retail customers will now have convenient access to:
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
Notably, the service does not include memecoins, DeFi governance tokens, or higher-risk digital assets — reinforcing BPCE’s cautious, compliance-driven approach.
The integration improves France’s fiat on-ramp infrastructure and gives mainstream users a simplified introduction to digital assets without needing external crypto exchanges.
Regulatory Alignment and Compliance
The offering aligns with France’s regulatory framework for Digital Asset Service Providers (DASPs), requiring registration with the Autorité des Marchés Financiers (AMF). By staying within structured regulatory requirements, BPCE ensures consumer protection while expanding investment access.
Cécile Ferrandez-Paugam, Head of Digital and Innovation / Payments & Digital at BPCE, said:
“This initiative demonstrates our commitment to innovation and meeting our customers’ growing interest in digital assets.”
Broader Market Implications
BPCE’s entrance into crypto trading could meaningfully influence adoption across France’s financial sector. The scale of BPCE’s retail presence makes it one of the most impactful banking-driven crypto integrations to date, potentially inspiring similar moves by European banking peers.
The initiative mirrors earlier digital-asset programs launched by institutions such as BBVA Switzerland, but BPCE differentiates itself through its broader retail focus and full in-app integration.
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