Today's Cryptocurrency News (January 9) | Bitcoin ETF outflows nearly $400 million; Uniswap fees hit a new high

This article summarizes cryptocurrency news as of January 9, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:

1. Countercyclical Expansion Under Sanctions: Ruble Stablecoin A7A5 Surges Nearly $90 Billion in Circulation in 2025

Despite support parties being subject to international sanctions, a ruble-pegged stablecoin achieved rare rapid growth in 2025, with circulation increasing by nearly $90 billion within a year, surpassing some mainstream USD stablecoins, attracting broad market attention.

The stablecoin named A7A5 was launched in January 2025 by cross-border payment firm A7 LLC. Public data shows A7 LLC is associated with Russia’s state-owned Promsvyazbank and Moldovan businessman Ilan Shor. Shor was previously convicted of involvement in a roughly $1 billion bank fraud case, which has also contributed to A7A5’s high controversy since its launch.

A7A5 is issued through an entity based in Kyrgyzstan and deployed on Tron and Ethereum blockchain networks. Its core purpose is to provide cross-border payment solutions for Russian users facing restrictions via traditional banking channels, while leveraging decentralized finance protocols to offer liquidity linked to USDT without directly holding USD stablecoins.

According to Artemis data, the market-leading USD stablecoin USDT’s market cap increased by about $49 billion in 2025, followed by USDC’s increase of about $31 billion. In comparison, A7A5’s expansion among non-USD stablecoins is particularly notable, becoming one of the few cases of rapid growth amid sanctions.

On a macro level, despite fundamental pressures, the ruble appreciated over 40% against the USD in 2025, becoming one of the strongest global currencies at times, mainly benefiting from strict capital controls and ongoing central bank interventions.

Notably, A7A5 was also a sponsor of the 2025 Token2049 conference in Singapore. Since Singapore’s sanctions against Russia mainly target licensed financial institutions and do not cover individuals or non-financial entities, this project was able to participate in industry events. Currently, A7A5 has not launched on any centralized exchanges and mainly circulates via decentralized protocols.

2. Privacy Coin Landscape Changes? Zcash Core Team Leaves, Monero (XMR) Makes a Strong Comeback

Entering 2026, the privacy crypto sector shows clear divergence. Following the sudden collective departure of Zcash’s core development team, market confidence quickly wavered, and funds began to concentrate into more mature privacy assets, with Monero (XMR) regaining the top market cap position among privacy coins.

Recently, Monero’s price has held around $460, approaching the $490 high reached in December 2025. XMR has been strengthening for several weeks, outperforming most privacy-focused digital assets. This trend sharply contrasts with the generally optimistic outlook on ZEC in mid to late 2025.

The direct trigger for this reversal is the Electric Coin Company (ECC), the core development organization behind Zcash. On Thursday, ECC announced a collective resignation. CEO Josh Swihart described this as a “constructive dismissal” at the board level, citing weakened independence under new governance arrangements. Subsequently, former developers formed a new company to continue related research.

Following the announcement, ZEC’s price dropped about 15% that day, with a slight rebound afterward, but overall continuing the correction since November’s highs. On-chain data also reflect market tension: according to Nansen, within 24 hours of the announcement, ZEC inflows to exchanges increased significantly, with exchange balances rising about 7%, often seen as a sign of potential selling pressure.

Meanwhile, funds did not exit the privacy sector entirely but shifted internally. Zcash’s Chaikin fund flow indicator turned negative, indicating net outflows; in contrast, Monero’s similar indicator rose sharply, showing capital flowing into XMR. During ZEC’s approximately 16% decline, XMR rose about 5%, widening the market cap gap.

From a technical and structural perspective, Monero’s advantages are being amplified. Its higher decentralization, more mature privacy mechanisms, and absence of recent governance crises support its position. The Money Flow Index (MFI) rising clearly suggests increasing buying sentiment.

Currently, Monero’s price remains about 13% below its all-time high of $518.99, but amid renewed privacy narratives, market recognition of its value is rebounding. Many, including the crypto research team under Andreessen Horowitz, believe privacy will be a key differentiator in blockchain competition in 2026.

As Zcash needs time to resolve governance and development uncertainties, Monero’s dominance in privacy crypto is becoming more solid in the short term.

3. South Korea Supreme Court Rules Bitcoin in Exchanges Can Be Confiscated, Crypto Asset Enforcement Enters New Stage

In 2026, South Korea’s crypto regulation reaches a key judicial milestone. According to the Chosun Ilbo, the Supreme Court recently issued a landmark ruling affirming that Bitcoin stored in South Korean exchange accounts can be lawfully seized and confiscated. This is the first time the highest judicial authority in Korea has clarified whether Bitcoin in exchanges can be confiscated, ending a long-standing legal gray area.

The ruling was made on December 11, 2025, stemming from a money laundering investigation. Law enforcement seized about 55.6 BTC during the investigation, involving approximately 600 million KRW. The suspect argued that Bitcoin, as a digital record in an account, does not qualify as “physical property” under the Criminal Procedure Act. The court rejected this claim.

The Supreme Court stated that objects subject to seizure under the Criminal Procedure Act include not only tangible items but also electronic information that can be independently managed, has clear economic value, and is under the substantial control of an individual. It emphasized that Bitcoin, controlled via private keys and tradable within exchanges, meets the legal standards for confiscation in criminal cases.

This ruling is not isolated but continues previous judicial positions. As early as 2018, Korea’s Supreme Court recognized Bitcoin as an intangible asset with economic value. In a 2021 ruling, virtual assets were officially protected property rights in fraud cases. This latest decision further clarifies their enforceability in criminal proceedings.

Alongside judicial clarity, regulators are also advancing enforcement tools. South Korea’s financial authorities are studying the introduction of “account freezing” mechanisms similar to those in securities markets to prevent suspects from quickly transferring assets to personal wallets or overseas platforms before prosecution. Officials note that once assets leave regulated platforms, tracking and enforcement become much harder.

On the enforcement front, South Korea continues strict compliance reviews of crypto firms. Several domestic platforms have been fined heavily for anti-money laundering and internal control issues, increasing overall regulatory pressure.

Legal experts generally see this Supreme Court ruling as providing a clear judicial basis for future virtual asset cases, significantly improving enforcement efficiency and confirming the property status of Bitcoin and other digital assets within the legal system.

4. New York State Proposes Prediction Market Regulation Bill Again, Plans to Ban Contracts on Political and Sports Events

In November 2025, New York State Legislature reintroduced the “ORACLE Act,” proposing to regulate event-based contracts through a new Chapter 48 of the General Business Law. The bill aims to prohibit trading contracts related to political and sports events, while establishing age limits, market access rules, advertising restrictions, and anti-manipulation provisions. Although the ban covers specific event types, neutral results like “league wins/losses” may still be tradable, reflecting a balance between innovation and risk.

5. Spot Bitcoin ETF Continues Four Days of Net Outflows, Nearly $400 Million Withdrawn in a Day

In 2026, US spot Bitcoin ETFs face renewed pressure. Recent data show that spot Bitcoin ETFs have experienced net outflows for the fourth consecutive trading day, with nearly $400 million withdrawn in a single day, drawing market attention to short-term fund flows.

According to SoSoValue, US spot Bitcoin ETFs saw about $399 million net outflow on Thursday. BlackRock’s IBIT led with about $193 million out, Fidelity’s products withdrew about $121 million, and funds from Ark & 21Shares and Grayscale also saw varying withdrawals. Over the past four trading days, total outflows exceeded $1.1 billion, nearly offsetting early 2026 net inflows.

Similarly, Ethereum spot ETFs also showed weak fund performance. On Thursday, Ethereum ETFs netted out about $159 million, with BlackRock’s ETHA losing about $107 million, and Grayscale’s ETHE experiencing over $30 million outflow, indicating short-term pressure on mainstream crypto asset ETFs.

Nick Ruck, director of LVRG Research, said this ETF fund outflow mainly reflects portfolio rebalancing, profit-taking after prior gains, and short-term caution during market consolidation, not a fundamental change in institutional long-term Bitcoin allocation logic. He believes the overall crypto market remains healthy, with Bitcoin trading above $90,000, supported by ongoing institutional absorption.

Price-wise, Bitcoin quickly recovered after briefly falling below $90,000, currently around $90,660, with slight gains in 24 hours. Ethereum also weakened, falling to about $3,100. Meanwhile, some ETFs show signs of fund divergence: spot XRP ETF saw about $8.72 million net inflow; spot Solana ETF has experienced eight consecutive days of net inflows, with about $13.64 million in a single day.

Market analysis generally considers ETF fund flows as an important short-term trend indicator. Ruck reminds traders to focus on Bitcoin’s technical resistance near $95,000, ETF fund flow patterns, and Federal Reserve policy signals, which will jointly determine whether Bitcoin breaks out or continues to oscillate at high levels.

6. JPMorgan: Bitcoin’s Correction May Be Nearing End, ETF Outflows Significantly Easing

JPMorgan’s latest view suggests Bitcoin’s recent correction may be nearing completion. As Bitcoin and Ethereum ETF outflows slow, the prior selling pressure in the crypto market is easing, and Bitcoin’s price is gradually stabilizing around $94,000.

In the report, JPMorgan analyst Nicholas Panigirtzoglou noted that since January 2026, the outflows from spot Bitcoin and Ethereum ETFs have been narrowing, and derivatives market positions and momentum indicators show that de-risking by institutions and leverage is close to finishing. He judges that, barring new systemic shocks, retail selling behavior is likely to diminish gradually in this cycle.

JPMorgan emphasizes that recent declines are not due to on-chain or liquidity crises. Instead, overall market liquidity remains relatively healthy. The main cause of the correction is more structural at the index level rather than deteriorating fundamentals.

The report mentions that MSCI signaled in October 2025 that it was considering removing certain crypto-related companies from its indices, which initially triggered passive fund hedging and early reductions, putting downward pressure on sentiment. However, MSCI later confirmed that in the February 2026 global stock index rebalancing, crypto-related companies would not be excluded, significantly reducing the risk of forced selling due to index rebalancing.

This decision provides short-term relief for the crypto market and boosts confidence that a “phase bottom” is forming. Stabilizing ETF flows, derivatives positions returning to neutral, and diminishing index uncertainties are collectively supporting Bitcoin’s price.

Data shows Bitcoin remains around $94,000, with JPMorgan concluding that, despite short-term volatility, the main risks of this correction are being gradually absorbed by the market from an institutional behavior and capital structure perspective.

7. Uniswap Hits $1.4 Million in Single-Day Fees, a Record High; DeFi Risks Emerge

On January 9, 2026, decentralized exchange Uniswap recorded a historic day. On-chain data shows its daily trading fees exceeded $1.4 million, setting a new platform record since inception.

However, unlike natural growth, this surge was driven not by healthy expansion but by panic selling triggered by a major crypto hack, exemplifying early 2026 DeFi risk discussions.

On-chain data indicates over 90% of fee income came from TRU token trades related to Truebit protocol. Previously, Truebit suffered a severe smart contract vulnerability attack, where hackers exploited an old contract flaw to mint large amounts of TRU at near-zero cost, then rapidly sold for ETH, stealing about 8,500 ETH worth roughly $26 million.

Post-exposure, the market quickly panicked. Many holders rushed to sell TRU on Uniswap, causing liquidity pools to surge in trading volume. TRU alone contributed about $1.3 million in single-day fees, explaining the record.

From a project perspective, Truebit is an early Ethereum project aimed at off-chain complex computations with on-chain verification. However, outdated contracts not properly decommissioned became attack vectors. Within hours, TRU’s price plummeted from about $0.07 toward zero, nearly wiping out its entire market cap. The Truebit team confirmed the security incident and urged users to stop interacting with related contracts.

This incident highlights DeFi’s dual nature: on one hand, Uniswap maintained operation under extreme trading pressure, demonstrating protocol resilience; on the other, it exposed systemic risks from insufficient long-term contract maintenance and audits. High trading volume does not necessarily indicate ecosystem health; sometimes, it results from panic and liquidation.

For crypto participants, this event serves as a warning in 2026. Whether established projects or new protocols, smart contract risks always exist. The record-breaking fees at Uniswap remind the market: in DeFi, gains and risks often go hand in hand.

8. Escalating Sanctions Drive On-Chain Transfer Surge: Illegal Crypto Activities Hit Record High in 2025

Against the backdrop of intensifying global sanctions, illegal crypto activities reached unprecedented levels in 2025. Multiple governments and blacklisted entities increasingly use blockchain networks to bypass traditional finance restrictions, making “sanctioned funds on-chain” an unavoidable trend.

According to Chainalysis’s latest crypto crime report, at least $154 billion flowed into illicit crypto addresses in 2025, a 162% increase from $59 billion in 2024. The report notes this surge mainly stems from large-scale on-chain transfers by sanctioned countries and entities, rather than traditional petty crimes.

Chainalysis describes 2025 as a “turning point for state-related illegal crypto activities.” It emphasizes that on-chain behaviors in this phase differ significantly in scale, frequency, and coordination, reflecting more sophisticated strategies by sanctioned actors. Russia is considered a key driver. Since the Ukraine conflict, Russia has long faced international financial sanctions. In February 2025, Russia launched the ruble-pegged token A7A5, which within a year exceeded $93.3 billion in total transactions, becoming a prime example of state-level value transfer via crypto.

Meanwhile, the scope of global sanctions is expanding rapidly. Data shows about 80,000 entities and individuals are under various sanctions worldwide. In 2024, the US added 3,135 new entities to its sanctions list, a record high. This “sanction inflation” significantly boosts demand for alternative payment systems, providing fertile ground for illegal crypto activities.

At the tool level, stablecoins have become the core vehicle for illicit funds. Chainalysis reports that in 2025, stablecoins accounted for about 84% of all illicit crypto transactions. Their stability, cross-border transfer efficiency, and liquidity, originally advantages for legitimate use, also attract sanctioned users.

Despite the massive scale increase, the report emphasizes that illicit activities still account for less than 1% of the overall crypto economy. However, security risks are diversifying. Blockchain security firm PeckShield recorded increases in address poisoning, private key leaks, and social engineering attacks in 2025, with single losses often reaching tens of millions of dollars.

Overall, the combination of sanctions policies, geopolitical tensions, and crypto infrastructure is reshaping the landscape of illegal crypto activities. This trend also raises the bar for global crypto regulation and compliance in 2026, becoming a long-term issue in the digital asset space.

9. Shanghai Pudong Procuratorate Discloses Black Industry Case Involving Virtual Currency Settlements, Suspects Illegally Profited Over 1 Million Yuan

Shanghai Pudong New Area People’s Procuratorate disclosed a black industry chain case involving illegal querying and selling of citizens’ location information. The suspects settled transactions via virtual currency exchanges, illegally profiting. Forensic analysis shows over 1,000 location queries involved, with total illegal gains of about 1.17 million yuan. The involved persons have been sentenced to prison terms ranging from three and a half years to one year, with fines from 50,000 to 4,000 yuan.

10. Bitcoin Price in “Unusual Calm”? Narrow Fluctuations in 2026 Spark Market Manipulation Concerns

In 2026, Bitcoin’s price trend shows a rare scene. Recently, Bitcoin has been trading sideways near $91,176, with volatility narrowing to less than $100. For a market known for high volatility, this “extreme calm” has quickly attracted attention, prompting some traders to question whether Bitcoin’s price is being deliberately controlled.

Against a background of macroeconomic, regulatory, and crypto industry topics still intense, the price remains directionless, seen by many as an “unnatural” signal. Discussions around Bitcoin’s stagnation have evolved into debates on market structure and potential manipulation.

Some analysts focus on the options market. From derivatives structure, gamma risk exposure models show that when many options cluster around key strike prices, market makers hedge by continuously trading in reverse, creating a “price pinning” effect. This mechanism is not intentional manipulation but an automated risk management behavior, which can significantly suppress volatility.

Calculations suggest that breaking the current consolidation and triggering a trend could require tens of millions of dollars in sustained buying. This supports the “structural resistance” explanation rather than human manipulation, indicating that the current price stagnation is more due to internal market mechanics.

Of course, consensus is lacking. Some traders believe large institutions influence liquidity, amplifying sideways movement; others see it as a normal correction after high volatility phases. On-chain data also suggests Bitcoin may be gradually entering a stable digestion phase between $80,000 and $90,000, building momentum for the next rally.

Historically, prolonged narrow ranges often precede sharp swings. Whether current stagnation is due to options structure or natural market behavior, the key question is: when will this compressed volatility be released, and will the final move be upward or downward? For traders and long-term holders, the answer may soon be revealed in 2026.

11. Trump’s $200 Billion Mortgage Policy Sparks “Quantitative Easing” Debate, Can Rates Really Fall?

Early 2026, US housing finance policy again becomes a market focus. Confirmed reports indicate US housing agencies will implement Trump’s latest order to purchase up to $200 billion in mortgage-backed securities (MBS). This move is quickly interpreted as a new round of “quasi-QE,” dubbed by analyst Richard Mize as “QEx (Extended Quantitative Easing).”

However, unlike the market excitement during traditional QE launches, reactions this time are notably subdued. Many macro analysts see this tool as familiar, more like an old crisis-era approach, appearing at a controversial time.

The core debate centers on whether the transmission mechanism of rates remains effective. Mize publicly questions whether large-scale purchases of MBS can still significantly lower US mortgage rates in 2026. The reason is that US inflation has already cooled markedly, and the Fed has signaled a relatively dovish stance, with market expectations of rate cuts already priced in. In this context, further asset purchases may have diminishing marginal effects.

Historically, QE has effectively lowered mortgage rates by increasing bond demand and reducing long-term yields, especially during crises or liquidity crunches. But the macro environment in 2026 differs fundamentally. The financial system is relatively stable, liquidity ample, and risk premiums low, limiting the policy’s actual impact.

Thus, uncertainty is rising. Past policy tools that could swiftly change markets now face “diminishing returns.” Investors and banks are more concerned whether mortgage costs will truly decline in response to these measures, rather than the size of the policy.

If borrowing costs do not respond clearly, debates over whether Trump’s mortgage policy constitutes a new round of QE will persist. The final answer may only be revealed when rates actually change.

12. Polygon Spends $125 Million to Acquire Coinme? Ethereum L2 Directly Connects to US Bitcoin ATM Network

Multiple sources report that Ethereum Layer 2 network Polygon is pursuing a major acquisition, planning to buy US Bitcoin ATM provider Coinme for about $100–$125 million. Insiders told CoinDesk that the deal is close to completion, with Architect Partners serving as financial advisor. No official confirmation has been announced.

If finalized, this acquisition would mark a significant integration of Ethereum scaling with traditional crypto infrastructure. Coinme is one of the earliest US Bitcoin ATM operators, operating since 2014, with over 50,000 ATMs across 49 states, covering a broad user base.

For Polygon, acquiring Coinme is more than an asset purchase; it could be a key step in bridging on-chain ecosystems with offline fiat access. Through the ATM network, Polygon can extend its on-chain applications, stablecoins, and payment scenarios into the physical world, boosting its penetration in real-world use cases. This move is seen as a strategic long-term effort to expand user entry points and practical applications.

However, Coinme faces regulatory pressures. Last month, Washington State’s financial regulator ordered Coinme to cease all remittance services, accusing it of including unexchanged customer funds as revenue. The regulator also demanded repayment of over $8 million. Investigations show Coinme’s model involves paper vouchers, with balances retained if not redeemed within a period.

In this context, Coinme risks losing licenses, facing fines up to $300,000, and restrictions on its CEO Neil Bergquist. This complicates Polygon’s acquisition motives, which could be a strategic opportunity at a low valuation or entail compliance and integration costs.

Notably, Polygon raised $450 million in 2023 led by Sequoia Capital India, supporting its expansion. If the acquisition proceeds, Polygon could become one of the few EVM networks controlling both on-chain scaling and offline crypto infrastructure.

In early 2026, Ethereum Layer 2 competition shifts from technical narratives to real user entry points. Polygon’s move may significantly influence the entire crypto ecosystem’s user growth trajectory.

13. Cardano (ADA) Price Could Hit Historic Breakthrough? Analyst Says E-Wave Begins, Targeting $5–$10 Range

Long-term price outlook for Cardano (ADA) heats up again. Analyst Quantum Ascend recently indicated that Cardano may be at a critical technical inflection point, with current oscillations near $0.39 possibly just a buildup before an upward breakout. With multiple bullish signals, he believes a trend breakout for ADA is “only a matter of time,” with potential long-term gains of 12 to 24 times.

Structurally, Quantum Ascend notes that Cardano has been trading within a clear long-term channel since 2018, forming a typical ABCD wave pattern. Currently, the price is considered in the final phase of wave D, nearing the end of an adjustment. Recently, the price re-entered a wedge pattern, seen as an early sign of renewed strength.

He further emphasizes that a rebound from the wedge’s lower boundary often signals the end of correction and the start of wave E, which typically indicates a strong trend. Based on this model, he sets two core targets: ideally, wave E’s high could reach $10.40, about 24 times the current price; conservatively, ADA could rise to $5, about 12 times higher.

Historical patterns support this view. The analyst compares the current formation to Cardano’s 2020 bottom structure. Back then, ADA rebounded from around $0.017 after a deep correction, initiating a long bull run that completed a full cycle. The wave structure suggests the current pattern resembles the late correction phase of that period, implying a possible bottom or ongoing formation.

On technical indicators, the weekly stochastic RSI has begun turning up from lows, similar to early 2020. That year, the indicator surged from below 25 to high levels during a trend reversal. MACD histogram shows weakening bearish momentum; a future bullish crossover would further confirm a trend reversal.

All these signals—wave structure, historical comparison, momentum indicators—point to ADA potentially entering a new upward cycle. Despite short-term volatility, the medium to long-term technical setup supports a bullish outlook, fueling market optimism about Cardano’s price.

14. Bitcoin, Ethereum, and XRP All Correct; ETF Flows and Fed Expectations Key Variables

After weakening momentum in early January, the crypto market cooled sharply this week, losing about $120 billion in total market cap. The previous rally driven by spot ETF inflows failed to sustain, and sentiment deteriorated under macro and liquidity pressures. Bitcoin, Ethereum, and XRP led the correction.

Fund flows are a major trigger. Data shows US spot Bitcoin ETF inflows reversed midweek, with about $729 million out in two days. This caused Bitcoin’s price to drop from around $94,500 to $90,000, a decline of over $4,500 in a week. ETF outflows are seen as a short-term risk-off signal.

On the macro front, Fed policy expectations also pressure markets. The market now expects a pause in rate hikes at the January 29 meeting, with an 86.7% probability, but asset prices have corrected as if the good news was already priced in. The current rate range of 3.50%–3.75% is expected to persist longer, reducing expectations of quick easing. Upcoming employment and inflation data are key to future policy and crypto trends.

Structurally, altcoins’ corrections are deeper than Bitcoin’s. XRP fell from $2.40 to about $2.00, down roughly 14%, nearly half its January gains. The $2.00 level, coinciding with the 50-day moving average, is a key support; holding could allow a rebound, but breaking below might lead to further declines toward $1.80.

Ethereum dropped from $3,300 to about $3,000, down roughly 6%. Its technical pattern shows a symmetrical triangle, with a decision point. A breakout upward could target $3,600; a break below $2,900 might open further downside.

Notably, despite short-term pressure, the altcoin season index has rebounded from 25 to 57, entering neutral territory. This suggests that after a phase of correction, the market still expects a structural rebound in late January, with future moves depending on fund flows and macro signals.

15. Colombia Announces New Crypto Tax Rules, Mandating Exchange Reporting of User Data

Colombia’s crypto regulation is intensifying. According to local media CriptoNoticias, the National Tax and Customs Directorate (DIAN) has officially issued Resolution No. 000240, requiring all crypto platforms serving Colombian residents or taxpayers to collect and submit user and transaction data. This marks a key step toward systematic and comprehensive crypto tax regulation.

The resolution covers platforms handling Bitcoin, Ethereum, stablecoins, and related services, whether domestic or foreign, as long as they serve Colombian tax residents. Reported data includes account ownership, transaction amounts, transfer counts, end-of-period market value, and net asset balances, significantly enhancing tax authorities’ visibility into crypto flows.

DIAN states that the new rules align with OECD’s crypto reporting frameworks, aiming to improve transparency and prevent tax evasion or concealment of wealth via cryptocurrencies. Although effective from late 2025, the reporting obligations will start in the 2026 tax year, with the first comprehensive report due by the last working day of May 2027.

Previously, individuals in Colombia were asked to disclose crypto holdings and gains in annual income tax filings, but lacked third-party verification channels. The new rules enable DIAN to cross-check individual declarations, integrating crypto assets more fully into the national tax system. Non-compliance or inaccurate reporting can result in fines up to 1% of unreported transactions.

Market-wise, Colombia holds an important position in Latin America’s crypto ecosystem. Chainalysis data shows the country’s crypto transaction volume reached $44.2 billion between 2024 and 2025, ranking high regionally. This regulatory upgrade is seen as a significant step forward in Latin America’s crypto compliance efforts, potentially impacting local users and platform operations.