Cryptocurrency

Cryptocurrency

Japan: Cabinet Approves Bill to Allow VC Investment in Crypto

By Editors | 20/02/2024

The move is expected to enable VC firms to engage in projects that exclusively deal with crypto issuance, such as Web3 startups.

Anti-Money Laundering

KoFIU Workplan for 2024 Has a Heavy Focus on Crypto

By Manesh Samtani | 15/02/2024

KoFIU will also block “unqualified operators” from entering the market and “expel unqualified operators that have already entered the market”.

Fraud, Scams & Cybercrime

NYAG Expands Fraud Lawsuit Against Crypto Firms to $3b

By Mark Johnston | 13/02/2024

Investigations have revealed that additional investors were defrauded beyond the $1bn claimed in the original suit against Gemini, Genesis and DCG, filed in October 2023.

Cryptocurrency

Australian Court Rules Yield-earning Crypto Product Illegal

By Editors | 09/02/2024

The Federal Court ruled that Block Earner was offering unlicensed financial services through its “Earner” product.

Cryptocurrency

Korea: Regulator May Be Forcing Binance to Sell GOPAX Stake

By Sanday Chongo Kabange | 09/02/2024

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

Cryptocurrency

Hong Kong Proposes Regulatory Framework for OTC Crypto Venues

By Manesh Samtani | 09/02/2024

Firms providing “spot trade of any virtual assets for money” such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise.

Trading & Investment

Taiwan FSC Seeks to Launch Active ETFs by June – Reports

By Editors | 09/02/2024

The FSC has collected industry views on its proposals to allow active ETFs and is examining regulatory developments in other markets before finalising its rules.

Cryptocurrency

Korea Prepares to Implement Virtual Asset User Protection Act

By Manesh Samtani | 08/02/2024

The FSS released a roadmap to facilitate implementation of the new law, which will allow illegal activity to be punished with life.

Fraud, Scams & Cybercrime

South Korea Jails Two Bitsonic Executives for Crypto Theft

By Sanday Chongo Kabange | 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.