Argentina finalizes rules for virtual asset providers
Argentina’s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions.
The regulations were published on March 13 by the National Securities Commission, also known as the CNV, under General Resolution No. 1058.
According to a translated version of the announcement, the regulations impose “obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure” on VASPs operating in the country.
The stated goal of the rules is to guarantee “transparency, stability, and user protection in the crypto ecosystem,” the announcement said.
Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV.
US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserve
A new bill set to be introduced in Congress aims to formalize President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve, a move that could further integrate Bitcoin into the nation’s financial strategy.
Trump signed an executive order on March 7 to use Bitcoin seized in government criminal cases to establish a national reserve.
The legislation, introduced by US Representative Byron Donalds, seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.
“For years, the Democrats waged war on crypto,” Donalds, a Florida Republican, said in a statement to Bloomberg. “Now is the time for Congressional Republicans to decisively end this war.”
FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse
Newly revealed court documents show that FTX secretly liquidated $1.53 billion in Three Arrows Capital (3AC) assets just two weeks before the hedge fund collapsed in 2022. The disclosure challenged previous narratives that 3AC’s downfall was solely market-driven.
Once valued at over $10 billion, 3AC collapsed in mid-2022 after a series of leveraged directional trades turned sour. The hedge fund had borrowed from over 20 large institutions before the May 2022 crypto crash, which saw Bitcoin fall to $16,000.
However, recently discovered evidence shows that the FTX exchange liquidated $1.53 billion worth of 3AC’s assets just two weeks ahead of the hedge fund’s collapse.
3AC “asked a bankruptcy court to let it increase its claim against FTX from $120 million to $1.53 billion,” according to Mbottjer, the pseudonymous co-founder of FTX Creditor, a group FTX creditors and bankruptcy claim buyers.
SEC delays decision on XRP, Solana, Litecoin, Dogecoin ETFs
The US Securities and Exchange Commission has delayed its decision to approve several XRP, Solana, Litecoin and Dogecoin exchange-traded funds.
In a slew of filings on March 11, the agency said it has “designated a longer period”to decide on the proposed rule changes that would allow the ETFs to proceed.
Among the affected ETFs are Grayscale’s XRP and Cboe BZX Exchange’s spot Solana ETF filings, with the decisions on them pushed until May.
Russia using Bitcoin, USDt for oil trades with China and India: Report
Russian companies have been using cryptocurrencies like Bitcoin and USDt to facilitate trade with China and India amid international sanctions, according to a Reuters report.
Russian oil companies have used crypto assets including Bitcoin and Tether’s USDt for international trade, Reuters reported on March 14, citing four sources with direct knowledge of the matter.
One Russian oil trader reportedly conducts tens of millions of dollars worth of monthly transactions using digital assets, according to a source who spoke on condition of anonymity due to a non-disclosure agreement.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $84,322, Ether (ETH) at $1,911 and XRP at $2.39. The total market cap is at $2.74 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Story (IP) at 26.28%, Kaspa (KAS) at 16.83% and Celestia (TIA) at 12.92%.
The top three altcoin losers of the week are Ethena (ENA) at 18.67%, Pi (PI) at 18.57% and JasmyCoin (JASMY) at 16.64%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“As a long time Solana builder, the reason I stepped down is because I am far too trusting for how parasitic the memecoin space is.”
Ben Chow, co-founder of Meteora
“No felon would mind a pardon, especially being the only one in US history who was ever sentenced to prison for a single BSA [Bank Secrecy Act] charge.”
Changpeng “CZ” Zhao, former CEO of Binance
“With stablecoins under the government’s control, the result is the same, with the false veneer of decentralization added as a bonus.”
Jean Rausis, co-founder of Smardex
“The US administration is favorable toward cryptocurrencies and especially dollar-denominated stablecoins, which may raise certain concerns in Europe.”
Pierre Gramegna, managing director of European Stability Mechanism
“With Bitcoin dipping below $80,000, approximately 70% of all selling came from investors who bought within the last three months.”
Markus Thielen, CEO of 10x Research
“If Trump’s administration provides clearer regulations on stablecoins, ETFs and institutional adoption, altcoins could regain momentum.”
Alvin Kan, chief operating officer at Bitget
Top Prediction of The Week
Will Ethereum price bottom at $1.6K?
Ethereum’s native token, Ether, dropped below $2,000 on March 10, and the altcoin has struggled to regain a position above the psychological level.
While Bitcoin and XRP exhibited minor recoveries over the past 24 hours, Ether prices failed to display bullish momentum in the charts.
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Cryptocurrency trading addiction: What to look out for and how it is treated
The altcoin plummeted to a multi-year low of $1,752 on March 11. However, onchain data and technical analysis indicate that the price could drop an additional 15% in the coming weeks.
The current price deviation below $2,000 carried onchain implications for the altcoin. According to Glassnode, a data analytics platform, ETH dropped below its realized price of $2,054 for the first time since February 2023.
Top FUD of The Week
Bitcoin apparent demand reaches lowest point in 2025 — CryptoQuant
Apparent demand for Bitcoin has hit the lowest level in 2025, dropping down into negative territory, as traders and investors take a cautious approach to risk-on assets due to macroeconomic uncertainty.
According to CryptoQuant’s Bitcoin Apparent Demand metric, demand for Bitcoin has dropped down to a negative 142 on March 13.
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Decentralized social media: The next big thing in crypto?
Bitcoin’s apparent demand has been positive since September 2024, peaking around December 2024 before beginning the slow descent back down.
However, demand levels stayed positive until the beginning of March 2025 and have continued to decline since that point.
Crypto founders report deluge of North Korean fake Zoom hacking attempts
At least three crypto founders have reported foiling an attempt from alleged North Korean hackers to steal sensitive data through fake Zoom calls over the past few days.
Nick Bax, a member of the white hat hacker group the Security Alliance, said in a March 11 X post the method used by North Korean scammers had seen millions of dollars stolen from suspecting victims.
Generally, the scammers will contact a target with a meeting offer or partnership, but once the call starts, they send a message feigning audio issues while a stock video of a bored venture capitalist is on the screen; they then send a link to a new call, according to Bax.
Lazarus Group sends 400 ETH to Tornado Cash, deploys new malware
North Korean-affiliated hacking collective the Lazarus Group has been moving crypto assets using mixers following a string of high-profile hacks.
On March 13, blockchain security firm CertiK alerted its X followers that it had detected a deposit of 400 ETH worth around $750,000 to the Tornado Cash mixing service.
“The fund traces to the Lazarus group’s activity on the Bitcoin network,” it noted.
The North Korean hacking group was responsible for the massive Bybit exchange hack that resulted in the theft of $1.4 billion worth of crypto assets on Feb. 21.
Top Magazine Stories of The Week
Crypto fans are obsessed with longevity and biohacking: Here’s why
The truth about the links between the crypto and longevity communities runs deeper and weirder than you might expect.
Vitalik on AI apocalypse, LA Times both-sides KKK, LLM grooming: AI Eye
New evidence of AI deception, LA Times’ AI gives sympathetic view of KKK, Russians seed AI training data with propaganda.
Ridiculous ‘Chinese Mint’ crypto scam, Japan dives into stablecoins: Asia Express
Cebu airlines in The Philippines integrates blockchain tech, Bithumb chair’s acquittal upheld, Japan’s stablecoin bet.
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Cointelegraph Magazine writers and reporters contributed to this article.
