South Korean foundation to recover funds from defunct crypto exchanges

The Digital Asset User Protection Foundation will be set up by the DAXA self-regulatory organization and receive support from financial authorities.

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SFC Issues Warning on ICE Global Professional Station for Fraud and Impersonation

The SFC has issued a warning about ICE Global Professional Station, citing impersonation and suspected virtual asset-related fraud. (Read More)

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Hong Kong's SFC Alerts Public on Seven Entities Suspected of Virtual Asset Fraud

The SFC has issued a public warning about seven entities involved in suspected virtual asset-related fraud, urging caution. (Read More)

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Nigerian SEC mandates local offices for crypto firms

The requirement also states that applicants must report customer complaints and emergent risks and be subject to SEC inspections, audits and monitoring.

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Hong Kong unveils new stablecoin licensing regime

The Hong Kong FSTB and HKMA outline plans for a new regulatory framework for stablecoin issuers following broad public support and stakeholder feedback.

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Hong Kong invites global opinions on web3 and virtual assets future

The Hong Kong Legislative Council is actively seeking feedback on several critical aspects of Web3 policy development, including balancing technical, legal, and regulatory frameworks.

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Hong Kong invites global opinions on future of Web3 and digital assets

The Hong Kong Legislative Council is actively seeking feedback on several critical aspects of Web3 policy development, including balancing technical, legal and regulatory frameworks.

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Nigerian SEC announces new rules, compliance program for digital assets

While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date.

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Singapore flags digital payment tokens as high-risk in AML landscape

Singapore said digital payment token service providers, also known as virtual asset service providers, stand out as a high-risk category within the financial sector.

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McDonalds metaverse in Singapore, South Korea classifies NFTs as virtual assets: Nifty Newsletter

NFT sales surge volumes across various platforms and blockchains, with Bitcoin-based digital collectibles leading the charge.

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South Korea labels mass-produced NFTs as virtual assets

NFTs considered as virtual assets are eligible to receive interest when deposited to exchanges according to the FSCs guidelines published in 2023.

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New South Korean leadership will press for Bitcoin ETF trading

The Democratic Party of Korea promised to allow Bitcoin exchange-traded funds, and it expects to follow through one way or another.

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Nigerian fintechs crack down on crypto, users face account blocks

The Nigerian central banks attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.

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US Treasury strategy would tighten virtual asset regulations, increase AI use

The Treasurys fight against illicit finance will focus on better regulations, greater enforcement and AI.

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Interpol Nigeria boosts cybersecurity with virtual asset training

The training will enable officers to effectively address cybercrimes involving virtual assets, particularly stablecoins.

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Over 220 Web3 Companies Settle in Hong Kong, Boosting Virtual Asset Development

Hong Kong has welcomed over 220 Web3 companies from 20 countries and regions, focusing on sectors like virtual asset exchanges, blockchain infrastructure, network security, and payment services, aiming to balance development with regulatory frameworks. (Read More)

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Report: South Korean National Assembly to Pass Digital Asset Law in April

After several failed attempts in the past, the South Korean National Assembly is now expected to pass its digital asset market regulation in April, a report has said. Kim Hee-gon, a member of the Political Affairs Committee’s first subcommittee, said the prospects of this happening were bolstered after members agreed to narrow their differences. Politicians [...]

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Dubai Regulator Unveils Schedule of Fees for Virtual Asset-Related Activities

The Dubai Virtual Asset Regulatory Authority (VARA) recently announced the schedule of fees “covering the issuance of no-objection certificates to proprietary traders, amendments or withdrawal of licence applications, and the submission of whitepapers for VARA review.” According to VARA, licensed entities seeking to completely withdraw from Dubai will be asked to pay a license withdrawal [...]

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UAE’s Clear Rules and Openness to ‘Experimentation’ Key to Attracting Crypto Firms, Says Ben Caselin of Maskex

Players in the crypto space are attracted to the United Arab Emirates (UAE) because the region not only has clear rules but is also “open to experimentation,” Ben Caselin, the Vice President and Chief Strategy Officer (CSO) at the crypto exchange Maskex, has said. Caselin also said the UAE and the Middle East’s perceived neutrality [...]

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Ukraine to Adopt Europe’s Crypto Rules, Clarifies Taxation

Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader [...]

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