According to PANews, reports indicate that the South Korean National Assembly has commenced a full session. Additionally, CCTV News has reported that martial law forces in South Korea attempted to breach the parliament building to arrest participating lawmakers. In a related development, the South Korean Finance Minister is scheduled to hold an emergency meeting concerning the economy and financial markets at 7 a.m. KST (6 a.m. UTC+8). This meeting underscores the urgency of addressing the current economic and financial challenges facing the country.

According to market news, the South Korean National Assembly passed a request to lift martial law. (Jinshi)

Coinbase International announced that it has added support for Morpho perpetual futures on Coinbase International and Coinbase Advanced, and the MORPHO-PERP market will open on or after 9:30 am on December 5, 2024.

South Korean crypto exchange Bithumb said that cryptocurrency withdrawals were delayed due to excessive trading volume, according to an official announcement. Withdrawals are being processed in order, and the exchange will provide updates after resuming normal operations.

As the crypto market prepares for a new season of growth, XRP has opted to reduce its reserves 10 times lower. The current adjustment reflects a decrease to $2.64 from $26.40. This presents an opportunity for new network users to fund their wallets with a smaller amount of crypto, thereby attracting a larger user base.  […] source: https://www.cryptopolitan.com/xrp-ledger-cuts-reserve-requirement-10-to-1/

According to market sources, South Korea's finance minister will hold another emergency meeting on the economy and financial markets at 7 a.m. Korea Standard Time (6 a.m. Beijing time).

According to Odaily, in the early hours of December 4, a significant number of South Korean parliament members gathered in the National Assembly. The session, which saw more than half of the legislators in attendance, focused on a critical resolution. If a majority of the members agree, the South Korean Parliament is poised to pass a resolution calling for the lifting of martial law. The decision to convene this session comes amid growing discussions and debates within the political landscape of South Korea. The potential lifting of martial law is a significant move, reflecting the evolving political climate and the government's response to current national issues. The outcome of this session could have substantial implications for the country's governance and civil liberties. As the session progresses, all eyes are on the parliament to see if the resolution will indeed pass. The decision will not only impact the immediate political environment but also set a precedent for future legislative actions in South Korea. The international community is also closely monitoring the situation, given its potential ramifications on regional stability and diplomatic relations.

According to Odaily, the South Korean government has announced its readiness to provide unlimited liquidity to the market if necessary. This move is seen as a precautionary measure to stabilize the financial environment during times of significant political upheaval or transitions in power. Brad Bechtel, the Global Head of Foreign Exchange at Jefferies, noted that South Korea's leadership has previously employed such strategies during periods of political instability. However, he expressed concerns about the current situation, suggesting that the South Korean won is likely to remain volatile in the near term. The potential volatility of the won is largely contingent on the reactions of foreign investors to the South Korean stock market. Should these investors begin to sell off their holdings significantly, it could lead to a depreciation of the won against the US dollar, potentially reaching an exchange rate of 1450 won per dollar. This scenario underscores the delicate balance South Korea must maintain to ensure economic stability while navigating political challenges. The government's commitment to providing liquidity is aimed at reassuring markets and preventing a sharp downturn in investor confidence.

France is reportedly moving to implement a controversial crypto tax that targets unrealized gains on Bitcoin and other digital assets. With the policy gaining momentum after a recent Senate vote, the crypto community is sounding the alarm over its potential economic and regulatory fallout. This bold plan, part of the ‘Impôt sur la fortune improductive’ (Tax on Unproductive Wealth), could mark... source: https://news.shib.io/2024/12/03/frances-bold-crypto-tax-plan-faces-unprecedented-scrutiny/?utm_source=rss&utm_medium=rss&utm_campaign=frances-bold-crypto-tax-plan-faces-unprecedented-scrutiny

According to Arkham monitoring, the Grayscale Bitcoin ETF transferred 700.004 BTC worth US$65.84 million to an unknown address 1 hour ago.

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