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South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions
15.2.2024
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency...
South Korea Imposes Stricter Punishments For Crypto Trading Offenses
7.2.2024
South Korea’s financial regulators have slated July 19 for the implementation of the Virtual Asset User Protection Act and the Virtual Asset Industry Supervision Regulations. According to local media outlets, The Financial Service Commission (FSC) disclosed on Feb 7 the date for both regulations...
Blockchain Can Help Advance Healthcare Data Management Solutions
3.2.2024
Advanced data management solutions within the healthcare sector are becoming increasingly important as organizations realize the need to manage, govern, exchange, and analyze both internal and external datasets. In addition, providing adequate data protection has become a major concern...
House Financial Services Committee Members Demand More Time to Debate New Digital Payment Proposal
2.2.2024
Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on digital consumer payment applications. This...
Rich Dad Poor Dad Author Explains Why He Owns Bitcoin Over Stocks
31.1.2024
Robert Kiyosaki – author of the famous personal finance book Rich Dad Poor Dad – has come out with another statement in support of Bitcoin (BTC) as a superior money and investment asset compared to traditional stocks. “Bitcoin is protection against the theft of our wealth via our money,” read...
Hong Kong Initiates Probe into Worldcoin Over Privacy Fears
31.1.2024
OpenAI CEO Sam Altman’s Worldcoin project continues to raise privacy concerns — and is now under probe in Hong Kong. Local media outlet HKET reported that Hong Kong’s data protection authority investigated six Worldcoin booths, using a court warrant on Wednesday. They also requested the operators...
Terraform Labs Says Bankruptcy Protection Would Allow it Appeal against SEC’s Securities Fraud Lawsuit
31.1.2024
Terraform Labs has said that its Chapter 11 bankruptcy protection filing would enable the pursuit of an appeal against the US Securities and Exchange Commission’s (SEC) securities fraud lawsuit. In a recent filing, Terraform Labs CEO Chris Amani emphasized the importance of bankruptcy...
AI Hype: CFTC Urges Investors to be Wary of AI-Created Crypto-Asset Arbitrage Algorithms
28.1.2024
The Commodities Futures Trading Commission has urged investors to be wary of artificial intelligence-created algorithms which promise dubious returns on crypto asset investments. The commission said investors should conduct background research on the companies or individuals who offer such...
Do Kwon’s Terraform Labs Files for Bankruptcy Protection in US
22.1.2024
Terraform Labs, the issuer of the collapsed stablecoin TerraUSD (UST), has filed for Chapter 11 bankruptcy protection in the United States. The filing by Terraform Labs was officially submitted to the U.S. Bankruptcy Court for the District of Delaware. This action marks a significant legal step...
Thai Securities and Exchange Commission Lifts Restrictions on Digital Asset Investments
19.1.2024
Thailand’s securities regulator has removed investment restrictions on retail investors who invest in real estate-based digital tokens. The Thai Securities and Exchange Commission (SEC) said digital asset entities that want to diversify to other businesses need to get its approval first....
Thailand’s SEC Eases Investment Restrictions in Select Digital Assets
18.1.2024
The Securities and Exchange Commission (SEC) of Thailand has updated the criteria for investing in digital tokens, easing some restrictions. In a meeting held on March 2, 2023, the SEC Committee approved the principles for improving investment criteria and related criteria for digital asset...
South Korean Bankruptcy Court Judge Calls for More Crypto Regulation
17.1.2024
Source: Valerii Evlakhov/Adobe A South Korean bankruptcy court judge has called on the government to bolster regulation in the crypto industry, claiming investors need more protection. Per Newsis, the claims were made by Judge Lee Seok-jun, of the Seoul Bankruptcy Court. Lee wrote a paper...
Australian Government Official to Question Regulator Over Its Failure to Warn Crypto Investors
10.1.2024
The Australian government’s assistant treasurer, Stephen Jones, has stated his intention to query the country’s securities regulator over its failure to warn investors about the risks of investing in the now-collapsed crypto investment firm Hyperverse. Jones stated that a “bunch”...
Bitcoin Traders Seek Protection From Price Declines as ETF Deadline Looms: Deribit
10.1.2024
Puts are overbought and calls [are] being sold, Deribit's CCO Luuk Strijers told CoinDesk, noting the decline in the bitcoin implied volatility index
Blockchain Association Rebuffs CFPB’s Proposal on Payment Apps and Digital Assets
9.1.2024
In a detailed critique, the Blockchain Association counters the CFPB’s latest proposal to oversee digital consumer payment applications, citing legal and jurisdictional overreaches in the bureau’s approach to cryptocurrencies and digital assets. CFPB Faces Criticism from Blockchain...
Safemoon Files for Chapter 7 Bankruptcy Protection Amid Securities and Wire Fraud Charges
17.12.2023
In the latest development, Safemoon, a crypto company, voluntarily initiated Chapter 7 bankruptcy proceedings in the District of Utah, as stated in their bankruptcy documentation. This action comes on the heels of the company’s founders facing indictment for securities fraud, wire fraud,...
Safemoon Files for Chapter 7 Bankruptcy Month After SEC Charged Founders With Fraud
15.12.2023
Source: Pixabay Decentralized finance protocol SafeMoon has officially filed for Chapter 7 bankruptcy protection in the face of mounting allegations of fraud and mismanagement. The company’s founders Kyle Nagy, Thomas Smith, and Braden Karony, accused of misleading investors, are facing...
CFTC Proposes New Rule to Strengthen Customer Protections After FTX Collapse
14.12.2023
Source: Pixabay The Commodity Futures Trading Commission has voted on a proposal to introduce a rule aimed at enhancing safeguards for individuals engaging in trades through a derivatives clearing organization. The rule, called the “Protection of clearing member funds held by derivatives clearing...
South Korea to Prioritize Innovation in Next Phase of Crypto Regulations
14.12.2023
Source: Pexels South Korea’s authorities have expressed a commitment to balance investor protection with fostering technological innovation in next phase of crypto regulations. Kim So-young, Vice Chairman of the Financial Services Commission, emphasized the need for regulations to strike this...
South Korea Financial Regulator Proposes Consumer Protection Rules for Crypto Users
11.12.2023
The rules are scheduled to take affect on July 19 next year