South Korean authorities are intensifying their efforts to track down and arrest Shin Hyun-Seong, also known as Daniel Shin, co-founder of cryptocurrency platform Terra. This follows the recent arrest of his fellow co-founder, Do Kwon, who was detained in Montenegro while attempting to board a plane using fake travel documents. The authorities have suspected the … Continue reading Terra co-founder sought for arrest
Australia has been known for its progressive stance on cryptocurrency regulation. Recently, Senator Andrew Bragg submitted a private senators’ bill titled Digital Assets (Market Regulation) Bill 2023 to the Australian Parliament. The bill proposes regulatory recommendations for stablecoins, licensing of exchanges, and custody requirements to protect consumers and promote investment in the country’s cryptocurrency market. … Continue reading Australian Senator Proposes Digital Asset Regulation Bill
The Bank of Russia’s central bank digital currency (CBDC) pilot, which was scheduled to begin on April 1, has been delayed indefinitely due to specific legislation only passing through the first reading in the Federal Assembly’s lower house. The legislation is expected to be enacted by early May, according to a report by the state-owned … Continue reading Bank of Russia Delays CBDC Pilot Rollout
El Salvador made history in September 2021 by becoming the first country to establish Bitcoin as a legal tender. The move was aimed at countering hyperinflation and dependence on the US dollar, which has long been a significant concern for the country. Since then, El Salvador has been restrategizing its Bitcoin investments and utilizing capital … Continue reading El Salvador Eliminates Taxes on Technology Innovations
The National Futures Association (NFA), the self-regulatory organization for derivatives markets in the United States, has issued a new compliance rule for its members engaged in digital asset commodities. The rule, which takes effect on May 31, is aimed at addressing fraud and misconduct committed by the over 100 NFA members involved in activities related … Continue reading NFA issues new rule for digital asset commodities
Japan’s Financial Services Agency (FSA) has issued a warning letter to several foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, for conducting business in the country without proper registration, violating the nation’s fund settlement laws. The FSA stated that the listed exchanges had breached Japan’s fund settlement regulations by conducting crypto asset exchange … Continue reading Japan's FSA Warns Binance and Others for Operating Without Registration
The Web3 project team of Japan’s ruling Liberal Democratic Party has released a white paper containing suggestions for expanding the country’s cryptocurrency industry. The white paper has been incorporated into the national strategy by Prime Minister Fumio Kishida’s administration. The Web3 project team aims to bypass the usual bureaucratic processes to formulate regulatory proposals for … Continue reading Japan's Web3 Project Team Releases White Paper to Boost Crypto Industry
South Korean prosecutors are actively tracing illicit funds linked to Terraform Labs co-founder Do Kwon and his associates. A recent investigation identified 414.5 billion won ($314.2 million) in illegal assets, with approximately 91.4 billion won ($69 million) of that amount directly linked to Kwon. Despite the large sum of money tied to Kwon, the South … Continue reading South Korean prosecutors trace millions in illicit funds tied to Terra co-founder
The Bank of England and the Bank for International Settlements (BIS) Innovation Hub London Center have successfully tested a distributed ledger technology-powered settlements system between the institutions. As a result, the Bank of England will use the insights from this project in its real-time gross settlement (RTGS) system. The joint pilot project, called Project Meridian, … Continue reading Bank of England Tests DLT Settlement System
In a Twitter Spaces discussion with Coinbase CEO Brian Armstrong and listeners, former Department of State official Anja Manuel cautioned that the US’s ability to enforce sanctions on “bad actors” like Iran or North Korea could be threatened if it fails to maintain its leadership in financial innovation and payments. According to Manuel, the US’s … Continue reading US National Security at Risk Due to China Dominance in Mobile Payments, says former State Department Official