The National Police Agency of South Korea is planning to implement a real-time monitoring system for wallet addresses and freezing of funds.

This week, three major cryptocurrency platforms have announced exciting competitions for enthusiasts to expand their portfolios with Tether, Bitcoin, DogeMiyagi, and more.

Binance CEO, Changpeng Zhao, has stated that the company is unlikely to acquire any banking institutions to address the growing problem of crypto companies being debanked, including Binance's own operation in Australia. Zhao explained that the reality of buying a bank is much more complex than the concept, as banking regulators can still take away licenses for working with crypto, even if a bank is purchased.

Australian customers of Binance, a Dubai-based cryptocurrency exchange, are eager to withdraw their funds after the exchange lost its banking partners. Some are willing to accept a $6,000 reduction to liquidate their bitcoin holdings.

Binance CEO Changpeng Zhao believes there will not be a single thing that drives adoption in the cryptocurrency industry, but rather multiple new developments and concepts.

South Korean police are set to hold a "virtual asset exchange practical meeting" with the country's top five cryptocurrency exchanges and Binance, according to a report by the Korea Economic Daily.The meeting aims to establish a system that will allow the police to confirm virtual asset wallet addresses and request the freezing of funds, not only for the top five domestic exchanges but also for overseas exchanges such as Binance.

Binance, the world's largest crypto exchange, is considering making cash investments in traditional financial institutions to encourage them to adopt pro-crypto policies. CEO Changpeng Zhao revealed that the company may become a minority investor in banks, but ruled out the possibility of acquiring a traditional finance bank due to regulatory and logistical challenges. Binance previously stated its intention to spend over $1 billion on deals in 2023, including potential bank acquisitions. Zhao also expressed concerns about the risky business models of banks.

The partnership will involve Ronaldo and Binance creating exclusive collections that can only be bought on the Binance NFT exchange, with the first collection set to launch later this year. The collaboration between Binance and Ronaldo highlights the growing overlap between the crypto industry and sports, and has the potential to significantly impact the cryptocurrency market by introducing the benefits of digital currencies to a wider audience. The initial release of CR7 NFTs on the Binance NFT marketplace was a complete sell-out, with some NFTs being auctioned for starting bids of 10,000 BUSD and selling for an average of 22,800 BUSD, indicating a surge in interest in cryptocurrencies.

According to Binance CEO Changpeng Zhao, the next bull market in the crypto industry could see multiple successes and new narratives emerge. He believes that the industry has grown beyond one single driving force and that there are many potential developments, including NFTs, DeFi, and social media for crypto. Zhao also notes that old narratives, such as payments, could make a comeback with the help of faster blockchains and new technologies. He predicts that the industry will see multiple unicorns and successful startups shaping its future.

Binance has launched a new tool called Binance Tax to simplify the process of filing crypto taxes, which can be confusing and time-consuming for many users. The tool supports popular cost basis methodologies and provides precise information on transactions, including spot trades, crypto donations, and blockchain fork prizes. However, the tool currently only provides country-specific tax standards for France and Canada, and users are advised to consult with a tax expert to determine if country-specific rules apply. Users can download reports, edit transactions, and add transactions conducted outside of Binance to Binance Tax.