South Korea Crypto Regulation Bill Passes Committee
- Regulatory Framework Established: The South Korean Finance and Economy Committee has passed an amendment to the Foreign Exchange Transactions Act, bringing virtual asset service providers (VASPs) under regulatory oversight, mandating that businesses offering virtual asset transfer services register with the Minister of Finance, thereby establishing a formal monitoring system for cross-border crypto flows and enhancing market transparency.
- Increased Compliance Requirements: The new law imposes strict reporting obligations on VASPs regarding transaction volumes and counterparties, with penalties or license revocation for non-compliance, aimed at reducing money laundering and tax evasion while increasing market trust.
- Impact on Major Exchanges: Major exchanges like Upbit, Bithumb, and Coinone must update their systems to comply with the new regulations; while users may face delays in international transfers, this move is expected to attract institutional investors, enhancing the legitimacy and stability of the market.
- Alignment with International Standards: The amendment aligns with the Financial Action Task Force (FATF) recommendations for regulating virtual asset transfers, and although some experts express concerns about overregulation stifling innovation, it ultimately provides a clearer legal framework for South Korea's crypto market.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 6 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0147 | 0.0354 | 0.0485 | 0.0692 | 0.0823 | 0.103 | 0.116 |
| Fibonacci | 0.0354 | 0.0483 | 0.0563 | 0.0692 | 0.0822 | 0.0901 | 0.103 |
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