Crypto / Digital Assets

Korea: Regulator May Be Forcing Binance to Sell GOPAX Stake

09/02/2024

A year after Binance bought a majority stake in crypto exchange GOPAX, the regulator still has not approved the shareholding revision.

Fintech / Regtech

Operational Procedures Updated for GBA Fintech Facility

09/02/2024

The HKMA, PBOC and AMCM updated their operational procedures to reflect Macau’s participation in the facility.

Securities / Derivatives

ASIC Offers Limited Relief for Unfair Contract Terms Regime

09/02/2024

ASIC granted no-action relief to address concerns that the regime could apply to sophisticated participants, who are not the intended targets of the regime.

Crypto / Digital Assets

UBS Launches Hong Kong’s First Tokenised Warrant

09/02/2024

UBS said tokenisation opens a new channel for investors to access digital structured products.

Market Infrastructure

Korea to Reform FX Market to Attract Foreign Investors

08/02/2024

Reforms will address settlement failure risks. Pilot run to extend trading hours kicked off. Foreign FIs now have access to Korean FX market.

Crypto / Digital Assets

South Korea Jails Two Bitsonic Executives for Crypto Theft

08/02/2024

The CEO and CTO were sentenced to seven years and one year in jail, respectively, for embezzling KRW 10 billion in customer funds.

Capital / Liquidity

Korea to Boost Supervision of Troubled Credit Cooperative

08/02/2024

Korea’s Ministry of the Interior and Safety will bolster its supervision over MG Community Credit Cooperative with help from the FSC.

ESG / Sustainability

EU Agrees Regulatory Approach for ESG Rating Providers

07/02/2024

ESG rating providers will need to be authorised and supervised by the ESMA and comply with transparency requirements.

Victims of Predatory Lending to Get Free Legal Support in Korea

07/02/2024

The FSS and Korea Legal Aid Corporation will offer free legal support to victims of illegal predatory lending.