On October 10, South Korea’s Financial Services Commission (FSC) signaled a significant step in the country’s crypto regulations by announcing the formation of a Virtual Asset Committee. This dedicated body aims to provide strategic oversight and guidance for the approval of spot crypto exchange-traded funds (ETFs) in South Korea. By placing the committee under the
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In a significant development within South Korea’s burgeoning cryptocurrency landscape, the Financial Services Commission (FSC) has announced an investigation into Upbit, the country’s leading crypto trading platform. This decision, confirmed by FSC Chairman Kim Byung-hwan, comes in response to growing concerns about Upbit’s substantial influence on the overall virtual asset market. As local news reports
In the rapidly evolving landscape of cryptocurrencies, gaining credibility and trust is paramount. ABD Systems, a seasoned player in the IT solutions arena with over 13 years of experience, has recently made headlines with the successful KYC verification of its innovative ABDS Token project through CertiK—distinguished by the awarding of the prestigious CertiK Gold Badge.
Taiwan is positioning itself at the forefront of the digital asset revolution with the launch of a new pilot program spearheaded by its Financial Supervisory Commission (FSC). Announced on October 8, this initiative is poised to enable financial institutions to explore opportunities in digital asset custody services. As various sectors in the economy increasingly recognize
The rise of stablecoins has undoubtedly transformed the landscape of international trade and finance. As digital currencies, particularly those pegged to stable assets like the US dollar, become more prevalent, governments around the world face the challenge of creating effective regulatory mechanisms to ensure their safe and responsible use. South Korea’s recent announcement regarding the
Taiwan is stepping into the forefront of cryptocurrency innovation by initiating a pilot program aimed at institutional crypto custody, spearheaded by the Financial Supervisory Commission (FSC). Set to begin accepting applications in early 2025, this initiative marks a significant advancement in the nation’s approach to digital asset management, signaling a deeper institutional interest in virtual
In a significant move that underscores the rapidly evolving landscape of cryptocurrency trading, Binance has announced plans to phase out support for certain underperforming digital assets. Effective immediately, Binance will begin converting specific delisted cryptocurrencies into USDC—one of the most widely used stablecoins—by April 28, 2025. This change impacts both individual investors and the broader
In a rapidly evolving global financial landscape, the voices advocating for the adoption of digital assets and distributed ledger technology (DLT) are becoming increasingly significant. Recently, Piero Cipollone, a crucial member of the European Central Bank’s (ECB) Executive Board, delivered an impassioned plea for Europe to not only embrace these innovations but also integrate them
In a significant regulatory shift, the United Arab Emirates (UAE) has announced an exemption for cryptocurrency transactions from its 5% value-added tax (VAT). This decision, made public via an amendment to the Executive Regulation accompanying the Federal Decree Law on VAT, is poised to take effect on November 15, 2024, while also applying retroactively to
Hong Kong is paving the way for a more inclusive and regulated cryptocurrency market as the Securities and Futures Commission (SFC) prepares to issue additional licenses to crypto enterprises before the end of the year. This decision, highlighted in a report by local media outlet Hong Kong 01, follows the SFC’s recent endorsement of HKVAX,