South Korea Launches CBDC Pilot with Seven Local Banks
Seven South Korean financial lenders have been permitted to participate in a pilot project that will test digital financial services based on CBDCs. Seven domestic banks have been given permission by the Financial Services Commission of South Korea to take part in a pilot program that will test digital financial services based on deposit tokens […]
South Korean Foundation to Return Funds from Defunct Exchanges
The Digital Asset User Protection Foundation, established to facilitate the return of funds frozen in defunct exchanges, will provide a new ally to South Korean cryptocurrency exchange customers. The self-regulatory Digital Asset Exchange Joint Consultative Group (DAXA) submitted an initiative to establish the foundation to South Korea’s Financial Services Commission (FSC). Activities for the foundation […]
Taiwan to Unveil Crypto Regulation Guidelines by Month’s End
According to a local report, the Republic of China (Taiwan) is set to announce its official guidelines for regulating virtual asset service providers (VASPs) by the end of this month. The guidelines will cover key aspects such as anti-money laundering, asset custody, transaction transparency, and platform management. FSC to Supervise Crypto Industry in Taiwan The […]
FSC Chairman Seeks Regulatory Clarity for Crypto, Stablecoin
Patrick McHenry, chairman of the US House Financial Services Committee (FSC), announced a handful of bills, including three that seek regulatory clarity for the digital asset ecosystem: crypto, blockchain development, and stablecoin payments. On July 26, the Committee on Financial Services will markup, among other bills, H.R. 4763, the Financial Innovation and Technology for the […]
Taiwan Mobile Mulls Crypto Deals Ahead of New Rules
Taiwan Mobile Co. is reportedly in early talks with local crypto platforms, including XREX Inc., for potential collaborations or investments as Taiwan prepares to issue new rules for digital assets. Taiwan Mobile Co., a prominent telecom service provider in Taiwan, is exploring opportunities for collaboration with local crypto platforms as the island’s regulatory landscape for […]