Crypto / Digital Assets

The FSA plans to make submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.

The month-long testing phase facilitated more than 160 transfers and FX exchanges worth USD 22 million on the mBridge Ledger.

FTX won a "highly competitive auction process" that lasted two weeks with the "highest and best bid for its assets", valued at just over USD 1.4 billion.

Crypto firm bZeroX transferred its software protocol to a DAO and then marketed this as a way to be "enforcement-proof".

Accredited wealth clients are able to trade four cryptocurrencies on DDEx - Bitcoin, Bitcoin Cash, Ethereum, and XRP.

FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.

The largest seizure from a single delinquent taxpayer was worth around KRW 12.5 billion, or about USD 8.8 million.

The CBDC will be called eAUD. Industry participants are invited to propose CBDC use cases, and to participate in testing. Expressions of interest are due by 31 October.

The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.

An FSC official said new legislation for the crypto sector will only be effective if there is international consistency.