On the evening of October 25th, the cryptocurrency market witnessed a slight upward trend. Data from the OKX exchange revealed that Bitcoin’s price inched up by 0.3% over the past 24 hours, reaching $111,720.
Bitcoin Enters Accumulation Phase
Among altcoins, Ethereum (ETH) dipped by 0.5% to $3,950, while BNB fell over 1% to $1,115. Conversely, XRP surged by more than 4%, hitting $2.5, and Solana (SOL) saw a modest 0.2% increase to $194.
According to Cointelegraph, Bitcoin’s price remains locked in a narrow range, repeatedly failing to break above $112,000, while buying support holds steady between $107,000 and $108,000. This pattern suggests an accumulation phase preceding potential market volatility.
Bitcoin is currently trading at $111,720. Source: OKX
Inflows into Bitcoin ETFs remain robust, totaling $477 million, indicating continued accumulation by institutional investors.
Analysts predict that Bitcoin’s sideways movement may end early next week as the U.S. market anticipates key economic updates.
Seizing Illicit Cryptocurrency Assets
On October 25th, the signing ceremony for the United Nations (UN) Convention on Countering Cybercrime (the Hanoi Convention) officially commenced in Hanoi, running until October 26th.
This historic event marks a new era in international cooperation to combat cybercrime.
The Convention comprises 9 chapters and 71 articles, criminalizing acts such as unauthorized access to ICT systems, online fraud, child exploitation, and money laundering from illicit assets.
It also establishes international mechanisms for investigation, extradition, data sharing, and human rights protection in cyberspace.
Dr. Jeff Nijsse, Senior Lecturer in Software Engineering at RMIT University Vietnam, highlighted the Hanoi Convention as a testament to Vietnam’s growing role in the global fight against cybercrime.
“Being chosen as the host for the Convention’s signing ceremony underscores Vietnam’s strategic importance,” Dr. Nijsse noted.
Vietnam has risen to the top tier in the 2024 Global Cybersecurity Index (GCI), scoring nearly perfect marks. This reflects the rapid advancement of its national cybersecurity infrastructure.
Dr. Nijsse praised the Hanoi Convention’s modernity, particularly its inclusion of digital/virtual assets in the definition of property.
“This is a highly welcome development, as it addresses the misuse of cryptocurrencies by cybercriminals in ransomware attacks and money laundering. Clear regulations eliminate previous legal ambiguities and empower law enforcement to trace and seize illicitly sourced digital assets,” Dr. Nijsse explained.
He also emphasized the Convention’s requirement for each nation to designate a 24/7 contact point for urgent investigations and its classification of cybercrimes as extraditable offenses, preventing criminals from evading justice by crossing borders.
Money Laundering Through Illicit Bank Account and Business Transactions
High-tech criminals engaging in money laundering are becoming increasingly dangerous, sophisticated, and complex, making the need for robust anti-money laundering (AML) measures in the digital economy a critical challenge for nations worldwide, including Vietnam. As Vietnam’s economy becomes more open and interconnected, the urgency to enhance risk identification and mitigation in AML efforts has never been more pressing.
Unveiling the United Nations Cybercrime Convention: A Landmark Global Initiative
The United Nations Convention on Cybercrime’s signing ceremony and high-level conference was solemnly held under the theme “Combating Cybercrime, Sharing Responsibility, Shaping the Future.”
Today’s Crypto Market, October 23: Bitcoin Sees Slight Uptick, but Forecast Predicts Shock for Investors
Despite Bitcoin’s recent slight recovery, analysts warn that the cryptocurrency still faces the risk of a significant downturn.
Vietnam Landmark Officially Names Global Multilateral Treaty
Today, October 25th, marks a historic milestone as the Opening Ceremony for the Signing of the United Nations Convention on Combating Cybercrime takes place in Hanoi. Under the theme “Combating Cybercrime – Sharing Responsibility – Shaping the Future,” this event not only signifies a pivotal moment for the international community but also underscores Vietnam’s growing prominence on the global stage.
Binance Founder ‘CZ’ Granted Clemency
CZ expressed profound gratitude for the pardon and pledged to dedicate his efforts to establishing the United States as the global capital of cryptocurrency.
