On October 10, 2023, a significant development unfolded in South Korea’s approach to cryptocurrency regulation with the announcement by the Financial Services Commission (FSC) regarding the establishment of a Virtual Asset Committee. This committee aims to tackle essential issues surrounding the approval process for spot cryptocurrency exchange-traded funds (ETFs) in the nation. The decision underscores
Regulation
Taiwan’s Financial Supervisory Commission (FSC) is making significant strides in the realm of digital assets, as it gears up to launch a pilot program aimed at fostering secure custody services for cryptocurrencies and other virtual assets. This initiative, announced on October 8, marks Taiwan’s proactive approach in the rapidly evolving financial landscape, paving the way
On October 8, Crypto.com, one of the prominent players in the cryptocurrency exchange sector, announced it has initiated a legal battle against the U.S. Securities and Exchange Commission (SEC). This lawsuit arises from a perceived overreach by the SEC in regulating the burgeoning and evolving cryptocurrency ecosystem. Crypto.com is not merely reacting to a Wells
In recent years, the European crypto landscape has seen a mix of acceptance and hesitation as various countries navigate the complexities of integrating digital currencies into traditional financial systems. This inconsistency has become a pressing concern, as emphasized by 21Shares, a prominent crypto investment firm. Their call to the European Securities and Markets Authority (ESMA)
In the face of the increasing prevalence of stablecoins in global commerce, South Korea has announced new measures to regulate cross-border transactions involving these digital currencies. This strategic move, highlighted by local media on October 8, underscores the government’s intent to establish a stable regulatory framework amidst a rapidly changing financial environment. With stablecoins, particularly
In an age characterized by rapid technological advancements, the financial landscape is undergoing a fundamental transformation. Piero Cipollone, a prominent member of the European Central Bank’s (ECB) Executive Board, recently articulated the case for Europe to adopt digital assets and distributed ledger technology (DLT) in a speech at the Bundesbank Symposium. His arguments underline the
In recent months, the Hong Kong Securities and Futures Commission (SFC) has embarked on a crucial journey to reshape its regulatory framework for the burgeoning cryptocurrency industry. Local media reported on October 7 that the SFC plans to issue more licenses to crypto businesses by the end of the calendar year. This development follows the
The Hong Kong Virtual Asset Exchange (HKVAX) has recently made headlines by securing critical licensing from the Hong Kong Securities and Futures Commission (SFC). This pivotal moment marks a significant milestone, positioning HKVAX as the third licensed cryptocurrency exchange in the region and the first to operate under a regulatory framework specifically designed for virtual
The U.S. Securities and Exchange Commission (SEC) has recently postponed its decisions regarding options trading for BlackRock and Bitwise’s spot Ethereum exchange-traded funds (ETFs) until mid-November. As stated in filings from September 24, the revised deadlines for these two significant players in the ETF space are Nov. 10 and Nov. 11, respectively. This delay comes
The recent settlement between TrustToken and TrueCoin regarding their TrueUSD (TUSD) stablecoin paints a complex picture of regulatory challenges in the cryptocurrency sector. The U.S. Securities and Exchange Commission (SEC) charged these companies with engaging in unregistered sales of TUSD as investment contracts, leading to a substantial financial penalty of $700,000. Interestingly, TrustToken and TrueCoin