Cryptocurrency

Cryptocurrency

Korea Issues Guidelines on Crypto Accounting & Disclosures

By Sanday Chongo Kabange | 13/07/2023

The new guidelines seek to enhance accounting and disclosure requirements for companies that issue or hold virtual assets.

Fraud, Scams & Cybercrime

Korea Prosecutors to Form New Unit Dedicated to Crypto Crime

By Sanday Chongo Kabange | 12/07/2023

The new Virtual Asset Joint Investigation Unit will launch by the end of the month and focus on investigating crypto-related crime including fraud.

Cryptocurrency

GDF Finalises Standards for Global Cryptoasset Market

By Manesh Samtani | 11/07/2023

Similar to the FX Global Code, the Standards include a “Statement of Commitment” form, allowing market participants to voluntarily sign up.

Fraud, Scams & Cybercrime

US Indicts Moroccan for Crypto and NFT Spoofing Scam

By Mark Johnston | 11/07/2023

A Moroccan man is accused of stealing cryptocurrency and NFTs by creating a fake OpenSea website.

CBDCs

BIS Study: 24 Central Banks to have CBDCs by 2030

By Jill Wong | 11/07/2023

A BIS study found 24 central banks would have their own digital currencies in circulation by 2030.

Cryptocurrency

Australia says NFTs Are Not Digital Currencies for GST Purposes

By Ranamita Chakraborty | 10/07/2023

The Australian Taxation Office clarifies that it does not consider crypto assets such as non-fungible tokens and stablecoins as digital currencies for GST purposes.

Cryptocurrency

FSC Korea to Require Employees to Report Crypto Holdings

By Editors | 07/07/2023

Employees that perform official duties related to the virtual assets sector will have to report their holdings to the FSC.

Resolution & Recovery

FSB to Conduct “In-depth” Review of G-SIB Resolution Framework

By Manesh Samtani | 07/07/2023

FSB members also approved the high-level recommendations for crypto-assets and stablecoins, which will be submitted to the G20 for endorsement this month.

Cryptocurrency

Korea to Start Work on Second Phase of Crypto Legislation

By Editors | 06/07/2023

The next phase of legislation will introduce rules for the issuance and distribution of virtual assets, as well as a regulatory system for stablecoins.