Factor Behind BTC Pump
Mike Novogratz, the famous CEO of Galaxy Digital, argued that the reason behind the pump that carried Bitcoin above the $ 10000 level was the atmosphere of crisis and uncertainty in the USA. Markets shaken by the COVID-19 pandemic in March are now in an uncertainty due to protests based on racial inequality. Bitcoin, on the other hand, was an investment tool that performed better than other markets in these crisis environments and showed people that it is a safe haven. He stated that Bitcoin will be profitable and have more places to rise from this crisis environment in Novogratz.

Tether Transactions Will Now Be Performed on the OMG Network
Tether USDT, the most important and most trading stable of the cryptocurrency world, will be executed through OMG Network, renamed OmiseGo, to reduce both fees and delays. As of June 1, all Tether transfers on the Bitfinex stock exchange will take place via the OMG network, and transfers will be handled by Plasma, the second tier infrastructure, not directly over the ETH network. With the confirmation of this news, OMG attracted a lot of attention and gained about 20% during the day.

 It was announced that today Tether transfers in Bitfinex will switch to OMG network in order to solve scalability problems. It was stated in the official statement that the transfers of the ERC-20 version of Tether will be carried out through Plasma, not directly through ETH. OMG Network has also become a partner of this integration.

After this development, OmiseGO prices also increased. While the cryptocurrency was around $ 1.44 yesterday, it is now trading at $ 1.72.

South Korea Taxes Crypto Assets
The South Korean Ministry of Economy and Finance proposed making amendments to the current tax law, including cryptocurrencies. These changes, brought with the participation of the Ministry of Information and Technology, will be presented to the parliament in September 2020. South Korea will start to charge taxes from crypto assets with the law, which will come into force by 2021, if approved. Profit generated by selling cryptocurrencies for cash will be taxed, but trading between cryptocurrencies will be exempt from tax.

Canadian Crypto Companies Will Be Audited
All new crypto-related businesses will be subject to audits and regulations under Canadian Money Services Businesses (MSB) with the new regulations. All businesses operating in this field, including crypto exchanges, will comply with regulations and enroll in the Canadian Financial Intelligence Unit (FINTRAC). The collapse of QuadrigaCX, one of the largest cryptocurrency exchanges in the country in Canada last year, accelerated these new regulations. The CEO of the stock exchange kept all assets under his control, and when he passed away, many people became victims because of the private key that no one could reach.