🚀 South Korea to Appoint Private Custody Provider for Seized Virtual Assets
#SouthKorea #VirtualAssets #TaxService #PrivateCustody #SeizedAssets #NS3AI #UserProtection #Security #Insurance #VirtualAssetRegulation
South Korea's National Tax Service is preparing to appoint a private custody provider for seized virtual assets, potentially as early as the first half of this year. According to NS3.AI, the tax agency is in the process of drafting selection standards, which may encompass security requirements, company size, and insurance coverage, in accordance with the Virtual Asset User Protection Act.#SouthKorea #VirtualAssets #TaxService #PrivateCustody #SeizedAssets #NS3AI #UserProtection #Security #Insurance #VirtualAssetRegulation
🚀 Expert Advocates Risk-Based Approach for Broker Regulations
#BrokerRegulations #RiskBasedApproach #AML #VirtualAssets #Securities #AI #Compliance #FinancialRegulation
Chen Zhihua has highlighted the ongoing debate regarding brokers' requirement for clients to pre-register designated bank accounts, suggesting it may indicate the application of virtual asset regulatory concepts to traditional securities. According to NS3.AI, Chen emphasized that regulators should adopt a risk-based anti-money laundering strategy, concentrating on beneficial owners, abnormal fund flows, same-name account standards, and AI monitoring.#BrokerRegulations #RiskBasedApproach #AML #VirtualAssets #Securities #AI #Compliance #FinancialRegulation
🚀 South Korea to Develop Public Manual for Virtual Asset Storage After Security Breaches
#SouthKorea #VirtualAssets #CryptoSecurity #PublicManual #FinancialRegulation #CyberSecurity #AssetStorage #PrivateCustody
South Korea's Ministry of Economy and Finance, along with the Financial Services Commission, is set to develop and distribute a public manual for the storage of virtual assets. According to NS3.AI, this initiative comes in response to recent security breaches at several agencies. The manual is anticipated to mandate that seized assets be stored in an environment isolated from the internet. Additionally, authorities are considering the use of private custody services to enhance security measures.#SouthKorea #VirtualAssets #CryptoSecurity #PublicManual #FinancialRegulation #CyberSecurity #AssetStorage #PrivateCustody
🚀 South Korea's Proposed Legislation to Enhance Crypto Disclosures
#SouthKorea #CryptoLegislation #DigitalAssets #CryptocurrencyDisclosures #DARTFilingSystem #VirtualAssets #FinancialConsumerProtectionAct #CryptoExchanges #DAXA #NS3AI
South Korea is considering a second-phase digital asset legislation that aims to elevate cryptocurrency disclosures to align with the country's DART filing system. According to NS3.AI, a commissioned research report suggests the introduction of new licensed business categories for virtual asset evaluation, advisory, and disclosure services. The report emphasizes that the regulations for these services should match the strength and scope of the Financial Consumer Protection Act. Additionally, the study highlights structural conflicts of interest faced by DAXA but does not recommend imposing limits on the shareholdings of major crypto exchange owners.#SouthKorea #CryptoLegislation #DigitalAssets #CryptocurrencyDisclosures #DARTFilingSystem #VirtualAssets #FinancialConsumerProtectionAct #CryptoExchanges #DAXA #NS3AI
🚀 South Korea's Cryptocurrency Tax Faces Criticism Ahead of Implementation
#SouthKorea #Cryptocurrency #CryptoTax #TaxCriticism #VirtualAssets #FinancialRegulation #MarketImpact #TaxPolicy
South Korea's upcoming cryptocurrency tax, set to begin next year, is facing criticism from various quarters. According to NS3.AI, critics argue that the proposed tax framework discriminates against cryptocurrencies compared to untaxed domestic stocks and lacks clarity on several transaction types. Kang Hyung-koo has emphasized the need for the government to first define the structures of virtual asset transactions. He also warned that categorizing gains as other income could increase administrative burdens and potentially contract the market.#SouthKorea #Cryptocurrency #CryptoTax #TaxCriticism #VirtualAssets #FinancialRegulation #MarketImpact #TaxPolicy
🚀 Brazil's Finance Minister to Postpone Crypto Tax Consultation
#Brazil #Finance #Cryptocurrency #Tax #IOF #Regulation #Stablecoin #VirtualAssets #CryptoPolicy
Brazil's new finance minister, Dario Durigan, is anticipated to delay the public consultation regarding the application of Brazil's IOF tax on certain cryptocurrency transactions. According to NS3.AI, the proposed draft decree aims to categorize some crypto transactions as foreign exchange operations, with applicable foreign exchange rates ranging from 0.38% to 3.5%. Industry groups have raised concerns, arguing that applying the IOF tax to stablecoin transactions would contradict Brazil's constitution and the 2022 Virtual Assets Law.#Brazil #Finance #Cryptocurrency #Tax #IOF #Regulation #Stablecoin #VirtualAssets #CryptoPolicy
🚀 South Korean Officials and Families Continue to Hold Virtual Assets in 2026 Disclosure
#SouthKorea #VirtualAssets #Cryptocurrency #LeeJaeMyung #XRP #Tether #AssetDisclosure #2026
The 2026 regular asset disclosure has revealed that officials in the Lee Jae-myung administration, along with their families, continue to hold virtual assets. According to NS3.AI, Lee Min-joo reported holding cryptocurrency valued at 170.32 million won. Additionally, President Lee Jae-myung's eldest son disclosed holdings worth 41.06 million won, primarily in XRP and Tether.#SouthKorea #VirtualAssets #Cryptocurrency #LeeJaeMyung #XRP #Tether #AssetDisclosure #2026
🚀 Alchemy Pay's Hong Kong Investment Receives SFC Approval for Virtual Asset Trading
#AlchemyPay #HongKong #SFC #VirtualAssets #CryptoTrading #Blockchain #Stablecoin #Investment #Fintech #LicenseUpgrade #ACH
Alchemy Pay has announced that its strategic investment in Hong Kong, HTF Securities Limited, has received approval from the Hong Kong Securities and Futures Commission (SFC) to upgrade its Type 1 (securities trading) license to include virtual asset trading services. According to Foresight News, this upgrade will cater to both professional and retail investors.
Previously, both parties had successfully completed the upgrade of their Type 4 license for virtual assets and are currently working on the application for a Type 9 license upgrade. Additionally, Alchemy Pay's stablecoin payment blockchain, Alchemy Chain, launched its testnet in March this year, with over 150,000 test addresses since its inception.#AlchemyPay #HongKong #SFC #VirtualAssets #CryptoTrading #Blockchain #Stablecoin #Investment #Fintech #LicenseUpgrade #ACH
🚀 U.S. President Trump Highlights Bitcoin's Influence at Miami Summit
#Trump #Bitcoin #MiamiSummit #FutureInvestmentInitiative #VirtualAssets #USLeadership #Cryptocurrency #BTC
U.S. President Donald Trump emphasized the significant impact of Bitcoin during the Future Investment Initiative Summit held in Miami. According to Odaily, he stated that the United States should maintain a leading position in the field of virtual assets. Trump noted the growing number of users interested in using virtual assets, particularly Bitcoin, for payments, underscoring the need for the U.S. to be at the forefront of these developments.#Trump #Bitcoin #MiamiSummit #FutureInvestmentInitiative #VirtualAssets #USLeadership #Cryptocurrency #BTC
🚀 South Korea Expands Crypto Travel Rule to All Transactions
#SouthKorea #Crypto #TravelRule #VirtualAssets #Regulation #FIU #VASPs #AML #Cryptocurrency #TransactionCompliance
South Korea's Financial Intelligence Unit (FIU) has broadened the scope of the crypto Travel Rule to encompass all virtual asset transactions, eliminating the previous threshold of 1 million won. According to NS3.AI, this move is part of a broader effort to enhance regulatory oversight in the cryptocurrency sector. The FIU is also implementing stricter entry requirements and anti-money laundering obligations for Virtual Asset Service Providers (VASPs). Additionally, recipient VASPs are now required to obtain and secure comprehensive transaction information. The FIU has also extended its scrutiny of major shareholders during the business registration process.#SouthKorea #Crypto #TravelRule #VirtualAssets #Regulation #FIU #VASPs #AML #Cryptocurrency #TransactionCompliance
🚀 Cuba Central Bank Approves Cryptocurrency Use for International Payments
#Cuba #CentralBank #Cryptocurrency #InternationalPayments #Bitcoin #VASPs #VirtualAssets #SMEs #CrossBorderPayments #Regulation #BTC
Cuba's Central Bank (BCC) has granted approval to ten companies, including nine small and medium-sized enterprises and one joint venture, to use cryptocurrency for international payments. According to Foresight News, the license is valid for one year and can be renewed. The companies are permitted to use crypto assets solely for cross-border payments related to their main business operations. Transactions must be conducted through virtual asset service providers (VASPs) authorized by the Cuban Central Bank, and companies are required to report transaction amounts, currencies used, and intermediary service provider information to regulatory authorities on a quarterly basis.
Since 2021, the Cuban Central Bank has been regulating virtual assets. In April 2022, the use of Bitcoin and other cryptocurrency platforms was allowed, but always under official authorization. This marks the first time Cuban companies have received direct licenses to operate international payment businesses using cryptocurrencies.#Cuba #CentralBank #Cryptocurrency #InternationalPayments #Bitcoin #VASPs #VirtualAssets #SMEs #CrossBorderPayments #Regulation #BTC
🚀 South Korea Reviews Bill for Virtual Asset Market Oversight
#SouthKorea #VirtualAssets #CryptoRegulation #Blockchain #FinancialOversight #Legislation #CryptoMarket #PolicyReview
South Korea's National Policy Committee initiated a review on March 31 of a proposed bill to establish a new body for monitoring the virtual asset market. According to NS3.AI, the legislation seeks to create a more structured framework for overseeing the virtual asset sector.#SouthKorea #VirtualAssets #CryptoRegulation #Blockchain #FinancialOversight #Legislation #CryptoMarket #PolicyReview
🚀 Binance to Implement Spot Price Range Execution Rule
#Binance #SpotPriceRangeExecutionRule #PRER #trading #marketconditions #liquidity #priceexecution #volatility #fairmarket #security #cryptotrading #virtualassets #cryptocurrency
According to the announcement from Binance, the Spot Price Range Execution Rule (PRER) will be gradually introduced starting on 2026-04-14. This new feature aims to ensure that trading occurs at prices reflecting a fair and orderly market by allowing order execution only within a dynamic price range. The mechanism is designed to prevent user orders from being executed at abnormal prices during extreme market conditions.
The PRER restricts orders to execute only against liquidity priced within specified ranges, thereby preventing executions when prices deviate significantly due to abnormal activity. Under normal market conditions, this mechanism will not affect daily transactions. Key features of the Spot Price Range Execution Rule include the expiration of all order types acting as a taker with execution prices outside the specified range, protection of the market from large, rapid price movements, and maintenance of fair and orderly market conditions during periods of unusual volatility.
Binance emphasizes that while the Price Range Execution Rule is designed to support fair and orderly market conditions, it does not eliminate the risks associated with trading in virtual assets. Users are advised to conduct their own research and seek independent professional advice before making any trading decisions. Binance reserves the right to modify, suspend, or discontinue the Price Range Execution Rule at its discretion. The introduction of this rule marks a significant step in enhancing the trading environment on the Binance platform, aiming to provide users with a more stable and secure trading experience.#Binance #SpotPriceRangeExecutionRule #PRER #trading #marketconditions #liquidity #priceexecution #volatility #fairmarket #security #cryptotrading #virtualassets #cryptocurrency
🚀 South Korea Implements Enhanced Withdrawal Delay System for Virtual Assets
#SouthKorea #VirtualAssets #FSC #FSS #DAXA #WithdrawalDelay #CryptoRegulation #TelecommunicationFraud #CryptoSecurity #DigitalAssets
South Korea's Financial Services Commission (FSC) and Financial Supervisory Service (FSS) have announced the implementation of an enhanced withdrawal delay system in collaboration with the Digital Asset Exchange Association (DAXA) and various virtual asset exchanges. According to Foresight News, the authorities have strengthened the criteria for withdrawal delay exceptions and established unified internal standards.
The new system aims to prevent telecommunication fraud by restricting certain groups, such as new users, from withdrawing virtual assets within a specified period. Previously, the lack of clear benchmarks and inconsistent standards across exchanges allowed criminals to exploit these loopholes. Statistics indicate that from June to September last year, 59% of fraud accounts at virtual asset exchanges were classified as 'exception accounts' under the withdrawal delay system.#SouthKorea #VirtualAssets #FSC #FSS #DAXA #WithdrawalDelay #CryptoRegulation #TelecommunicationFraud #CryptoSecurity #DigitalAssets
🚀 South Korea's Unclear Tax Standards for Crypto Income Raise Concerns
#SouthKorea #CryptoTax #DeFi #Staking #Lending #VirtualAssets #TaxRegime #NationalTaxService #CapitalFlight #InternationalLegislation
South Korea's National Tax Service has yet to establish definitive tax guidelines for decentralized finance (DeFi), staking, lending, and other forms of cryptocurrency income ahead of the new virtual asset tax regime set to begin next January. According to NS3.AI, the agency, in a written response to lawmaker Song Eon-seog, indicated that it is currently gathering international legislative examples and expert opinions to inform its approach. The lack of clarity on taxing profits from overseas exchanges outside the 56 jurisdictions covered by the Crypto-Asset Reporting Framework could lead to issues of fairness and potential capital flight.#SouthKorea #CryptoTax #DeFi #Staking #Lending #VirtualAssets #TaxRegime #NationalTaxService #CapitalFlight #InternationalLegislation
🚀 Dubai's VARA Issues Guidance on Virtual Asset Issuance
#Dubai #VARA #VirtualAssets #Stablecoins #RealWorldAssetTokens #RegulatoryGuidance #IssuancePathways #CryptoRegulation #Blockchain #DigitalAssets
Dubai's Virtual Assets Regulatory Authority (VARA) has released guidance detailing the structuring, disclosure, and distribution of virtual assets, including stablecoins and real-world asset tokens. According to NS3.AI, the document outlines three issuance pathways, specifying that Category 2 issuances must be distributed through intermediaries licensed by VARA. This guidance serves to interpret VARA's existing issuance rulebook rather than establish new laws. Ruben Bombardi, general counsel at VARA, stated that the framework aims to provide issuers with enhanced regulatory clarity and assist users in making more informed decisions.#Dubai #VARA #VirtualAssets #Stablecoins #RealWorldAssetTokens #RegulatoryGuidance #IssuancePathways #CryptoRegulation #Blockchain #DigitalAssets
🚀 South Korea Implements New Rules for Managing Public-Sector Virtual Assets
#SouthKorea #PublicSector #VirtualAssets #Cryptocurrency #Regulations #DigitalAssets #CryptoSecurity #ColdWallet #Blockchain #CryptoPolicy
South Korea has approved a plan to manage 78 billion won, equivalent to approximately $57.7 million, in public-sector virtual assets. According to NS3.AI, the new regulations mandate that any seized or confiscated cryptocurrency from personal wallets must be promptly transferred to an institutional cold wallet, which is not connected to the internet. Additionally, the rules stipulate that private keys and recovery phrases must be controlled by at least two individuals through a split-access arrangement.#SouthKorea #PublicSector #VirtualAssets #Cryptocurrency #Regulations #DigitalAssets #CryptoSecurity #ColdWallet #Blockchain #CryptoPolicy
🚀 South Korea Considers Seizing Principal in Virtual Asset Insider Trading Cases
#SouthKorea #VirtualAssets #InsiderTrading #FinancialRegulation #Legislation #InvestmentPrincipal #FinancialSupervisoryService #FinancialServicesCommission #MarketManipulation #UserProtection #StockMarket
South Korea's financial regulators are contemplating the inclusion of a clause to seize the principal in virtual asset insider trading cases in the upcoming second phase of legislation expected later this year. According to PANews, under the current Virtual Asset User Protection Act, the government can only confiscate investment principal in cases of fraudulent transactions or market manipulation. There is no legal basis for seizing the principal in insider trading cases.
The Financial Supervisory Service has recently submitted this issue to the Financial Services Commission, which is currently reviewing whether to incorporate it into the second phase of the law. In the stock market, all improper trading crimes can result in the confiscation of the investment principal.#SouthKorea #VirtualAssets #InsiderTrading #FinancialRegulation #Legislation #InvestmentPrincipal #FinancialSupervisoryService #FinancialServicesCommission #MarketManipulation #UserProtection #StockMarket
🚀 Argentina Revises Investor Qualification Rules to Include Virtual Assets
#Argentina #virtualassets #qualifiedinvestors #investmentregulations #crowdfunding #publicofferings #securitiesinvestments #bankdeposits #UVA #financialregulation #investmentrules
Argentina's National Securities Commission (CNV) has issued Resolution No. 1125/2026, revising the definition of qualified investors to include virtual assets. According to Foresight News, the new regulation allows individuals or entities to combine virtual assets with securities investments and bank deposits to meet the threshold of 350,000 UVA (Argentinian inflation-linked units) for qualification.
The revision also introduces provisions related to crowdfunding, permitting non-qualified investors to participate in specific public offerings. The investment limit for a single transaction is set at 3,000 UVA, with a cumulative cap of 10,000 UVA, and must not exceed 5% of the investor's personal assets per transaction or 10% cumulatively.#Argentina #virtualassets #qualifiedinvestors #investmentregulations #crowdfunding #publicofferings #securitiesinvestments #bankdeposits #UVA #financialregulation #investmentrules
🚀 South Korea Warns of Crypto Market Abuse via APIs
#SouthKorea #Crypto #Cryptocurrency #API #MarketAbuse #Regulation #ConsumerProtection #AutomatedTrading #VirtualAssets #InvestorAwareness
South Korea's Financial Supervisory Service has issued a warning to consumers regarding increasing abuse in the cryptocurrency market linked to APIs. According to NS3.AI, these application programming interfaces are responsible for approximately 30% of the nation's virtual asset trading volume. The regulator highlighted that automated trading programs are being utilized to artificially inflate transactions and manipulate market conditions. In response, a consumer advisory was released, providing examples of such misconduct to raise awareness among investors.#SouthKorea #Crypto #Cryptocurrency #API #MarketAbuse #Regulation #ConsumerProtection #AutomatedTrading #VirtualAssets #InvestorAwareness