Crypto Market Update: South Korea Lifts Ban on Corporate Crypto Investing, BitGo Files for IPO

Here's a quick recap of the crypto landscape for Monday (January 12) as of 9:00 p.m. UTC. Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news. Bitcoin and Ether price update Bitcoin (BTC) was priced at US$91,382.72, up by one percent over 24 hours. Chart via TradingView.Bitcoin price performance, January 12, 2025.Ether (ETH) was priced at US$3,099.87, down by 0.3 percent over the last 24 hours. Altcoin price update XRP (XRP) was priced at US$2.06, up by 0.1 percent over 24 hours.Solana (SOL) was trading at US$140.07, up by 1.3 percent over 24 hours. ​Today's crypto news to know BitGo files for IPOBitGo Holdings has formally launched the initial public offering (IPO) process, according to a Form S-1 filing submitted to the US Securities and Exchange Commission (SEC) on Monday.The offering will comprise approximately 11.8 million shares in total. This includes 11 million shares of Class A common stock issued directly by the company and 821,595 shares offered by existing stockholders.Based on an anticipated price range of US$15 to US$17 per share, the IPO is projected to raise as much as US$201 million. BitGo initially signaled its intent to go public in September 2025, when it first filed a Form S-1 with the SEC to list on the New York Stock Exchange under the ticker BTGO.The final IPO price will be determined on January 21, with trading scheduled to begin on January 22. World Liberty Markets launches for crypto lending and borrowingWorld Liberty Financial has launched World Liberty Markets, a new platform for cryptocurrency lending and borrowing. The platform is centered around World Liberty’s US dollar-backed stablecoin, USD1, and its governance token, WLFI.Users can lend and borrow digital assets within a single onchain marketplace. Currently accepted collateral includes Ether, a tokenized version of Bitcoin, and major stablecoins like USD Coin and Tether. Dolomite, a DeFi money market protocol, will serve as the underlying technical infrastructure and decentralized money market protocol that powers the platform. According to World Liberty co-founder Zak Folkman, the company plans to introduce additional collateral types over time, potentially including tokenized real-world assets. SEC extends ETF deadlines, opens comment period The SEC has extended its decision deadlines for two major crypto exchange-traded funds (ETFs), pushing the Canary Pudgy Penguins ETF to March 11, 2026, and the T. Rowe Price Active Crypto ETF to February 26, 2026. Additionally, the commission opened a public comment window for the proposed listing of standardized options for the Grayscale CoinDesk Crypto 5 ETF. These delays were issued to allow for further evaluation of market integrity, investor protection and potential manipulation.South Korea lifts nine year ban on corporate cryptoSouth Korea has lifted a nine year ban on corporate crypto investing, allowing public companies and professional investors to allocate up to 5 percent of their equity capital to digital assets. The country's Financial Services Commission said eligible assets will be limited to the top 20 cryptocurrencies by market capitalization traded on the country’s five licensed exchanges. The shift reverses years of policy that kept institutional money out of the market and left crypto trading dominated by retail investors.Regulators estimate that restrictive rules contributed to roughly US$110 billion in crypto capital outflows in 2025. Meanwhile, legislators framed the move as part of the government’s 2026 economic growth strategy aimed at modernizing capital markets and retaining domestic investment. While stablecoins are not yet included, authorities said discussions on their treatment are ongoing.Coinbase may pull support for US Senate Crypto BillCoinbase Global (NASDAQ:COIN) is threatening to withdraw its backing for a major US Senate crypto bill if lawmakers impose limits on stablecoin rewards beyond enhanced disclosure requirements. According to Bloomberg, the dispute centers on proposed language that would restrict platforms from offering yield on stablecoins unless they operate as regulated banking institutions. The company argues that such provisions would give banks an unfair advantage and undermine competition from crypto-native firms.The warning comes ahead of a Thursday (January 15) markup set by Senate Banking Committee Chair Tim Scott, after repeated legislative delays throughout 2025. Coinbase CEO Brian Armstrong has previously said banks are likely to lobby for exclusive control over stablecoin yield as adoption grows. While Coinbase has applied for a national trust charter that could eventually allow it to offer rewards under stricter rules, the firm is pushing to preserve non-bank models. Dubai bans privacy tokens, tightens stablecoin rulesDubai’s financial regulator has banned privacy-focused crypto tokens and tightened its stablecoin framework as part of a broader overhaul of digital asset rules. The Dubai Financial Services Authority said privacy coins are incompatible with anti-money laundering and sanctions compliance standards, and will no longer be permitted in the Dubai International Financial Center. Under the updated regime, only fiat-backed stablecoins supported by high-quality, liquid assets will qualify as stablecoins, while algorithmic models will be treated as ordinary crypto tokens. The rules take effect on Monday and reflect a shift away from regulator-approved token lists toward firm-led suitability assessments. Licensed companies will now be responsible for determining whether crypto assets meet regulatory standards and must keep those assessments under ongoing review. Don't forget to follow us @INN_Technology for real-time news updates!Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.